SOURCE: UnionTown Energy Inc.

UnionTown Energy Inc.

March 21, 2011 14:33 ET

UnionTown Energy Inc. (UTOG) Appoints New President and CEO With Extensive Oil and Gas Industry Experience

BILLINGS, MT--(Marketwire - March 21, 2011) - UnionTown Energy Inc. (OTCBB: UTOG), an Independent Oil & Gas Company, is pleased to announce the appointment of Darren Stevenson as the new President and CEO of the Company.

Mr. Stevenson is a successful oil and gas business development leader, who has delivered significant gains in revenues, profits and market share for companies such as Royal Dutch Shell PLC in the Hague, Netherlands. During his tenure at Royal Dutch Shell, he led a team that delivered more than $1 billion USD in new business and was a recipient of a Shell Rainmaker award.

Mr. Stevenson has worked in engineering capacities for companies such as Syncrude Canada, Shell Canada and the University of British Columbia Industry Liaison Office. He also has more than 15 years' experience spearheading successful business ventures throughout the global market place, and has raised in excess of $35 million for three companies he founded.

In taking over leadership of UnionTown Energy, Mr. Stevenson brings a proven track record that combines expertise in oil and gas technology, corporate acquisitions and sustainable business development. He also excels in organizational leadership and project management and has strong qualifications in rapid revenue growth and change management.

With Mr. Stevenson's appointment, the Company intends to move forward aggressively with its business plan, including the implementation of its acquisition and growth strategies.

"I'm excited to join the team at UnionTown Energy and to have the opportunity to contribute to the company's growth and expansion in the North American energy sector. With the uncertainty surrounding international oil supplies and demand for energy continually expanding, this is an ideal time for American oil and gas companies to focus on acquisition and development of properties in the United States."

Mr. Stevenson replaces former President and CEO Mr. Terry Fields, who will remain with the Company as a member of the Board of Directors.

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 Prospect" is only the first step in the Company's property 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, specifically statements relating to expectations regarding the closing of the Musselshell agreement, 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

  • Contact:
    Patrick Smyth
    Investor Relations
    UnionTown Energy Inc.
    Phone: (702) 530-3241
    E-mail: Email Contact