SOURCE: UnionTown Energy Inc.

UnionTown Energy Inc.

May 10, 2011 08:47 ET

UnionTown Energy Inc. Announces Independent Analyst Coverage Initiated With $8.00 Price Target

SISM Research of Zurich, Switzerland Impressed With the Speed of UnionTown's Management to Acquire, Finance, Develop and Finally Produce Hydrocarbonate

BILLINGS, MT--(Marketwire - May 10, 2011) - UnionTown Energy Inc. (OTCBB: UTOG) is pleased to announce that SISM Research of Zurich, Switzerland has initiated analyst coverage on UnionTown with a Speculative Buy rating and a 12 to 18 month price target of $8.00.

SISM's in-depth, 18-page report was authored by Ernest C. Schlotter, a senior analyst with the company and a four star analyst, according to equity research rating firm StarMine.

According to Schlotter's report:

"UnionTown Energy, Inc. is a rapidly growing resource player acquiring assets in the Wyoming Thrust Belt and in Montana's under-developed shale fields. The Company closed on two properties in Montana, with estimated combined conventional recoverable oil reserves exceeding 12.8 million barrels of oil. In Wyoming, UTOG has entered into a purchase agreement to acquire the Darby Block Prospect, with estimated P90 recoverable reserves of more than 134 million barrels of oil equivalent. Within the next ten days, UnionTown will begin its first horizontal drilling program, the New Miami #42-20H well, which will be vertically drilled to its primary target, the Madison Formation, at 5,277 feet, followed by the horizontal, directional drill program."

Schlotter's report also notes: "We are impressed with the speed of UnionTown's management to acquire, finance, develop and finally produce hydrocarbonate. The New Miami Property was just recently acquired, and the drilling program has already been implemented. We hope to see good results within the next few weeks when the Company, for the first time in its history, becomes a producing oil and gas company. The recent acquisition of the former Talisman Darby Block is stunning and only a fraction has to work to be a company-making asset."

The comprehensive report can be obtained from the SISM Research website at http://www.sism.com/researchreportsutog.htm).

About SISM Research

SISM Research (http://www.sism.com) is a private investment research firm, based in Zurich, Switzerland, offering independent, fundamental research on public companies since 1995. SISM Research publishes research on micro- to small-cap companies trading on the OTC, NASDAQ, AMEX and TSX stock exchanges. SISM research coverage platforms are geared toward institutional and individual investors in both North America and in Europe. SISM Research, as a member-provider of the FIRST Research Consortium, takes steps to ensure the independence and integrity of SISM's published research that exceed those of the CFA Institute Code of Ethics and Standards of Professional Conduct and the CFA-NIRI Guidelines, by following the exacting "Standards for Independent Research Providers," which are also in accordance with guidance set forth by U.S. Securities and Exchange Commission's Advisory Committee on Smaller Public Companies. The full report includes important disclosures, disclaimers and analyst information. SISM Research advises investors to exercise a reasonable degree of due diligence before trading in the equities of any public company, including carefully reading entire analyst reports and report disclosures, and then only in conjunction with advice from a registered financial advisor or broker. SISM Research further advises that any analyst rating, recommendation, target valuation, price target or opinion should be considered merely a portion of an investor's total investigative process.

About UnionTown Energy
UnionTown Energy Inc. is focused on the acquisition, exploration, development and production of oil and natural gas properties. Our strategy is to build a portfolio of properties in known and producing oil and gas fields throughout North America. We recently completed acquisitions of the Musselshell Property, New Miami Property and Darby Block Property, and we're now moving rapidly to bring the first wells to production. We're also in the advanced stages of acquisition of other oil and gas properties, including the Teton River, and continue to develop a pipeline of additional potential acquisitions to add to our land package. For more information about our company, please visit www.UnionTownEnergy.com.

Safe Harbor
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to UnionTown, the potential reserves, production and ability to establish wells on the Musselshell, New Miami Prospect, Darby Block Property, and the Teton River, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the nature of business negotiations, the operational details of oil and gas properties, the competitive environment within the industry, the ability of UnionTown to expand its operations, the level of costs incurred in connection with UnionTown's expansion efforts, economic conditions in the industry and UnionTown's financial strength. UnionTown does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

Contact Information

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    Patrick Smyth
    Vice President of Finance
    Phone: (702) 530-3241
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