Unbridled Energy Corporation
OTC Bulletin Board : UNEFF

Unbridled Energy Corporation

December 30, 2008 09:00 ET

Unbridled Energy Provides Overview

CALGARY, ALBERTA and PITTSBURGH, PENNSYLVANIA--(Marketwire - Dec. 30, 2008) - Unbridled Energy Corporation (TSX VENTURE:UNE)(OTCBB:UNEFF)(FRANKFURT:O4U) (the "Company" or "Unbridled") provides an overview on its USA and Canadian properties.

Due to dramatic changes in both the oil and gas industry and the national economy, combined with the extremely tight capital markets, Unbridled has revised its strategic plan for 2009. At this time, Unbridled will not proceed with the two previously announced joint venture opportunities in Pennsylvania. These include the farm-in on a tight sand oil play in southern Pennsylvania and the 8,000 acre Marcellus shale joint venture. Further, Unbridled has finished production testing in its three horizontal wells in Ohio and, due to low gas prices and well productivity results, the Company does not plan to proceed with the development of this play. The Company intends to farm out or sell the acreage.

Unbridled will now focus its capital expenditures in Q1 and Q2 2009 on cash flow and reserve building operations within its New York and Alberta properties. These operations include fracturing a new shale formation and drilling a deep test well in New York, as well as fracturing a new shale formation and acidizing a carbonate formation in Alberta. Management looks forward to providing more specifics on these cash flow and reserve building operations in early January 2009.


Joseph H. Frantz., Jr., President & CEO

Forward-looking Statements

This press release contains certain "forward-looking statements", as defined in the United States Private Securities Litigation Reform Act of 1995, and within the meaning of Canadian securities legislation, relating to contemplated and proposed petroleum and natural gas land acquisitions and related agreements, additional exploration permitting, future drilling programs, exploration plans and proposed wells, ongoing evaluation of certain exploration results, and production rates, and sales.

Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as required by applicable law. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include: the possibility that ongoing negotiations will not result in definitive agreements, the volatility of natural gas and oil prices, the possibility that exploration efforts will not yield economically recoverable quantities of gas or oil, accidents and other risks associated with gas exploration and development operations, the risk that the Company will encounter unanticipated geological factors, the need of the Company and its co-joint venturers for and ability to obtain additional financing to fund continued operations, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration and development plans, and the other risk factors discussed in greater detail in the Company's various filings on SEDAR (www.sedar.com) with Canadian securities regulators, including the Company's annual MD&A dated April 28, 2008, and its filings with the U.S. Securities and Exchange Commission, including the Company's most recent Form 20-F.

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
    Website: www.unbridledenergy.com