United Hunter Oil & Gas Corp.

United Hunter Oil & Gas Corp.

November 10, 2011 18:19 ET

United Hunter Oil & Gas Corp. Announces Sale of the 7-22-05-26W4 Wabamum Well, Leduc Woodbend, Alberta and Update on the Huasna Project

CALGARY, ALBERTA--(Marketwire - Nov. 10, 2011) - United Hunter Oil & Gas Corp. (TSX VENTURE:UHO) ("UHO") has disposed of its Wabamum interest in the 7-22-05-26W4 well at the Leduc Woodbend area of Alberta (the "7-22 Well") for a cash payment and a Gross Overriding Royalty ("GOR") of 12%. A confidentiality clause prevents any further disclosure of the terms of this disposal. The 7-22 Well was a test well for the farm-in agreement between UHO and MEC Operating Company and the subsequent disposal of the interest in the well also included the termination of the previously existing Farm-in agreement.

The San Luis Obispo County Planning Commission meeting on the Huasna Final Draft Environmental Impact Review that was previously scheduled for November 10, 2011 has been rescheduled for late February, 2012. This new date would suggest that the San Luis Obispo County Board of Supervisors (decision makers on the potential permit) meeting on Huasna will now probably meet towards the end of March.

Dr. Halleran, CEO of UHO states, "disposing of the Wabamum interest at Leduc Woodbend puts capital back into UHO and we hope that the GOR will push UHO closer to being cash flow positive."

United Hunter Oil & Gas Corp. (www.unitedhunteroil.com) is a Canadian based corporation with management very experienced in the oil and gas industry and has projects in California and Canada. United Hunter Corp is publicly traded on TSX Venture Exchange (TSX VENTURE:UHO). The Corporation's public filings may be found at http://www.sedar.com.

Certain statements contained in this press release constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. These statements relate to analyses and other information that are based upon forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, costs and timing of exploration and production development, availability of capital to fund exploration and production development; political, social and other risks inherent in carrying on business in a foreign jurisdiction, the effects of a recessionary economy and such other business risks as discussed herein and other publicly filed disclosure documents. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release.

Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Corporation undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

This news release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. When used herein, words such as "intended" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on assumptions by and information available to the Corporation. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Actual results may differ materially from those currently anticipated. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information