SOURCE: UnionTown Energy Inc.

UnionTown Energy Inc.

March 25, 2011 10:34 ET

UnionTown Energy Inc. Announces Major Authorized Stock Reduction

Company Also Looking at Name Change and New CUSIP to Reflect Montana-Based Business Model

BILLINGS, MT--(Marketwire - March 25, 2011) - UnionTown Energy Inc. (OTCBB: UTOG) today reported the initiation of a reduction in authorized capital to 300 million common shares to provide strong shareholder protection and exceptional corporate growth. The Company is focused on shareholder value and views this corporate action as a major step in propelling Uniontown Energy towards its goal of becoming a successful major oil and gas entity. 

The Company is discussing agreements with counsel for the immediate CUSIP and a name change to accommodate the aggressive corporate moves to acquisition and production. This may result in delivery of all Union Energy Inc. stock to the Company's current transfer agent on an immediate delivery protocol.

About UnionTown Energy Inc.
UnionTown Energy Inc. (UTOG) (the "Company") is focused on the acquisition, exploration, development and production of oil and natural gas properties. The Company is pursuing a strategy of building a portfolio of energy producing assets in known and producing regional oil fields throughout North America. The acquisition of the Musselshell Property is only the first property in the Company's land package acquisition strategy. For more information, please visit www.uniontownenergy.com.

Safe Harbor
The information in this release includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Although the Company believes that its expectations are based on reasonable assumptions, actual results may differ materially. These forward-looking statements, future exploration activities and the potential results of exploration activities on these properties, involve risks and uncertainties that include, among others, fluctuations in natural gas and crude oil prices; the timely receipt of necessary permits and approvals; market demand for, and/or available supplies of, energy-related products and services; unanticipated project delays, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, government regulation and taxation. More information about factors that potentially could affect the Company's financial results is included in its filings with the Securities and Exchange Commission.

Contact Information

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    Patrick Smyth
    Corporate Communications
    Phone: (702) 530-3241
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