Unbridled Energy Corporation
TSX VENTURE : UNE
FRANKFURT : O4U
OTC Bulletin Board : UNEFF

Unbridled Energy Corporation

March 18, 2009 09:00 ET

Unbridled Energy Announces Sale of Joint Venture Interest to Canadian Phoenix Resources Corp.

CALGARY, ALBERTA and PITTSBURGH, PENNSYLVANIA--(Marketwire - March 18, 2009) - Unbridled Energy Corporation (TSX VENTURE:UNE)(OTCBB:UNEFF)(FRANKFURT:O4U) (the "Company") announces it has completed the sale to Canadian Phoenix Resources Corp. ("Canadian Phoenix", formerly Arapahoe Energy Corporation) of the Company's 50% interest in a joint venture with Canadian Phoenix relating to petroleum and natural gas rights on the Tsuu T'ina First Nation Reserve (or Sarcee Reserve) located immediately SW of Calgary, Alberta (the "Sarcee Joint Venture Agreement") for CDN$1.1 million. The Company acquired its interest in the Sarcee Joint Venture Agreement in March 2006. As part of the transaction, the Company has been relieved of any further liability for past, existing and future liabilities of the Joint Venture, including all liabilities with respect to the lands, including reclamation of lands, that were the subject matter of the Joint Venture. Receipt of the cash improved the Company's cash position, and the Company now has over CDN$2.8 million in its bank accounts to pursue development of the Company's properties in Alberta and in the United States.

UNBRIDLED ENERGY CORP.

Joseph H. Frantz, Jr., President & CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Unbridled Energy Corporation
    Brad Holmes
    Investor Relations Consultant
    1-800-940-6781
    Website: www.unbridledenergy.com