CALGARY, ALBERTA--(Marketwired - Jan. 6, 2014) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
United Hydrocarbon International Corp. ("United" or the "Company") is pleased to announce the commencement of drilling in Chad. The Belanga 1A well, spud on January 3, 2014, by wholly owned subsidiary United Hydrocarbon Chad Ltd., is the first well of a 15-well exploration and development program for 2014 on the DOC and DOD blocks in the Doba Basin.
Belanga 1A is the first of four development wells to delineate the 1978 exploration discovery at Belanga that tested a calculated 1,940 bbl/d of medium gravity oil from the YO Sand. The Belanga 1A well will test the YO Sand, plus additional sands within the Upper Cretaceous-aged rocks, that had indications of hydrocarbons on the electric logs in the Belanga discovery well. Final well results will be released on completion of the testing and evaluation program at the end of January or early February. There are no plans to issue intermediate results.
Chairman of the Board and Chief Executive Officer Ned Goodman commented, "We are pleased to announce the commencement of our 2014 drilling program in the DOC and DOD blocks of southern Chad, as the prospects are on trend with and adjacent to large producing oil fields."
United Hydrocarbon International Corp. is a private Canadian based company involved in acquiring proven undeveloped oil and gas projects in the international locations that offer the greatest potential return for its shareholders. The Company's directors and management team have successful track records identifying, acquiring, financing and operating onshore oil and gas assets in Africa.
The offered securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold in the United States or to "U.S. persons", as such term is defined under Regulation S promulgated under the U.S. Securities Act, absent registration under such laws or pursuant to an exemption from registration therefrom.