Newton Energy Corporation

Newton Energy Corporation

August 23, 2011 19:15 ET

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

CALGARY, ALBERTA--(Marketwire - Aug. 23, 2011) - Newton Energy Corporation (the "Company" or "Newton") (TSX VENTURE:NTN) is pleased to report its financial results for the interim period ended June 30, 2011. The second 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:

"Newton is entering a new and exciting phase of its operations in the East Midlands. Yesterday, work commenced on the preparation of the well site and access road for our Harlequin prospect on PEDL 254 to allow drilling to start before year end. Harlequin was first drilled in the 1950s and encountered a thick section of oil bearing rock that was never properly tested by the operator at that time. The new well is designed with optimised completion techniques to give this fractured reservoir the best possible conditions to deliver the full flow potential of this zone.

Additionally, after carrying out detailed geophysical mapping of nearby PEDL 205, Newton has decided that there is insufficient prospectivity on this licence to warrant any further investment. Newton has therefore informed the British Department of Energy and Climate Change ("DECC") that it will be relinquishing the licence for PEDL 205 with immediate effect."

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 UK company. With its 150,000 acres of exploration licences on six contiguous blocks, with 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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