UHO United Hunter Oil and Gas Corp

CALGARY, May 6 /CNW/ -- CALGARY, May 6 /CNW/ - United Hunter Oil & Gas Corp. (UHO: TSX-V) ("UHO" or the "Corporation"), is please to advise completion of leasing an additional 4,983 acres at the Porter Ranch in the Huasna Basin, onshore California. UHO's percent of the leasing costs was $27,224.60. The total number of acres leased for this project now stands at 9,051. The Porter Ranch leases are held by Alamo Creek Oil LLC (Alamo) a Californian incorporated company, 45% owned and jointly operated by UHO, 45% by its Mankins Ranch partner Australian Oil Company and 10% owned by CALOG LLC (wholly owned subsidiary of AOC). The leases were last explored in the 1980's by Philips Petroleum Company (PPC) who acquired seismic data, drilled one well and completed extensive roadworks and well pads for 2 well sites prior to abandoning due to PPC's decision to withdraw from California completely. Alamo is in process of acquiring 91 miles of 2D seismic data from PPC (now ConocoPhilips) which will be reprocessed and evaluated prior to drilling. The Corporation is also pleased to announce that William Smith, CMA, has been promoted to the position of CFO effective May 5, 2011. The Corporation wants to thank Brad Griffiths for his work as CFO. Brad is stepping down from his position as CFO to give him more time to pursue other business ventures.  He will continue to sit on the UHO board and is a member of the reserves and resource committee and the nomination and compensation committee. Additionally, a total of 600,000 options were granted to directors, officers and employees of the Corporation.  The stock option grants are all subject to regulatory approval. The options have an exercise price of $0.15 per common share. The options will expire five years from the date of grant and will vest 1/3 per year for 3 years with the first 1/3 vesting upon grant. United Hunter Oil & Gas Corp is a Canadian based corporation with management very experienced in the oil and gas industry and has projects in California. United Hunter Oil & Gas Corp is publicly traded on TSX Venture Exchange (TSX-V: UHO). Additional information may be found at http://www.unitedhunteroil.com and 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. The TSX.V Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/May2011/06/c2366.html p Dr. Arthur Halleranbr/ CEObr/ (403) 667-4941br/ a href="mailto:ahalleran@unitedhunteroil.com" cr="true"ahalleran@unitedhunteroil.com/a /p p Scott Koyich, Presidentbr/ Brisco Capital Partnersbr/ (403) 262-9888br/ a href="mailto:skoyich@briscocapital.com" cr="true"skoyich@briscocapital.com/a /p p or /p p Graeme Dick, BMgmtbr/ Brisco Capital Partnersbr/ (403) 561-8989br/ a href="mailto:graeme@briscocapital.com" cr="true"graeme@briscocapital.com/a /p

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