Unbridled Energy Corporation

Unbridled Energy Corporation

September 21, 2007 09:00 ET

Unbridled Energy Provides an Update on Canadian Operations in Chambers Area, Alberta and North East, British Columbia

CALGARY, ALBERTA and PITTSBURGH, PENNSYLVANIA--(Marketwire - Sept. 21, 2007) - Unbridled Energy Corporation (TSX VENTURE:UNE)(FRANKFURT:O4U) (the "Company") is pleased to provide a drilling update on its Option Well, located at 16-21-41-11 W5M ("16-21") in the gas and condensate Chambers/Ferrier area, northwest of Calgary. The well was spudded August 26, 2007 by Unbridled as operator, and its partner. On September 20, 2007, the 16-21 Well reached its intended total vertical depth of 3,290 metres. Openhole logging will now commence. Importantly, the Company reports the drilling costs were within budget.

As announced previously, the Company holds an average of 35% working interest ("WI") in 10,240 acres (16 sections) with an option on an additional 3,840 acres (six sections) on contiguous lands in the Chambers/Ferrier area. The Company holds a 58.5% WI in the 16-21 Option Well and, with the drilling of the 16-21 Well, will now earn an interest in an additional 1,920 acres (three sections) of land and an option to earn the remaining three sections with a second Option Well.

North East, British Columbia

In the Horn River Basin of North East, British Columbia, Unbridled has initiated joint venture negotiations to include all petroleum and natural gas rights on several tracts of land. Various material aspects of these joint venture negotiations have yet to be agreed upon, as a result there is no assurance these negotiations will result in any new definitive agreements.

About Unbridled Energy

Unbridled Energy is an independent natural gas evaluation and production company specializing in shale gas and tight gas sands ("TGS") opportunities in two main basins within North America; the eastern US Appalachian Basin and the Western Canadian Sedimentary Basin. The Company is applying a lower risk production enhancement strategy on existing wells, and the latest horizontal drilling and fracing technologies on new wells in well known shale gas and TGS formations in the Appalachian Basin. Importantly, management is also employing a "first mover" approach to large scale shale gas and TGS resource opportunities in the 580,000 square mile Western Canadian Sedimentary Basin. The Company has offices in Pittsburgh, Pennsylvania and Calgary, Alberta.

By Order of the Board of Directors

Unbridled Energy Corporation

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. 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 undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. 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 prices, the possibility that exploration efforts will not yield economically recoverable quantities of gas, accidents and other risks associated with gas exploration and development operations, the risk that the Company will encounter unanticipated geological factors, the Company's need for and ability to obtain additional financing, 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 and its filings with the U.S. Securities and Exchange Commission, including the Company's Form 20-F (Amended) dated January 9, 2007.

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
    Mark Mastilliak
    Investor Relations Consultant
    Website: www.unbridledenergy.com