Newton Energy Corporation

June 23, 2011 16:22 ET

Newton Energy Corporation Announces First Quarter Results for 2011 and Provides Update

CALGARY, ALBERTA--(Marketwire - June 23, 2011) - Newton Energy Corporation (the "Company" or "Newton") (TSX VENTURE:NTN) is pleased to report its financial results for the three months ended March 31, 2011. The first quarter financial statements and Management's Discussion & Analysis were filed today on SEDAR at

Newton's CEO, Steve Engwall, provided the following update to shareholders:

"I am delighted to announce that full approval was received at a Board Meeting on 20th June for our plans to carry out wellsite preparatory works on our Harlequin prospect in the East Midlands basin and to commence drilling before the end of 2011. In addition, strong support was given to concluding our negotiations with third parties on a number of farm-in opportunities where exploration wells are planned in 2011 and 2012 in other onshore UK areas. These activities demonstrate Newton's intention to grow the Company through exploration success and we look forward to the start of a focused work program over the next few months."

About Newton

Newton is an emerging oil exploration company primarily focused on the underdeveloped basin in the East Midlands area of the United Kingdom, a contiguous area covering 100,000 acres located to the East of the city of Nottingham. Newton has an additional licence covering an additional and adjacent 50,000 acres jointly with another United Kingdom company. With its 150,000 acres of exploration licences on six contiguous blocks, with an additional licensing round expected in 2011 and farm-ins or acquisitions, management believes it will become a leading onshore United Kingdom oil company. Newton maintains offices in Woking, England and Calgary, Alberta.


Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates", and similar expressions, are forward-looking statements that represents management of Newton's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Newton. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Newton's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Newton's filings with the Canadian securities authorities. Accordingly, holders of Newton's shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Newton disclaims any responsibility to update these forward-looking statements except as required by applicable securities legislation.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

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