CALGARY, Sept. 27 /CNW/ - Unitech Energy Resources Inc. (TSXV: URX) is pleased to announce that it has drilled, logged and cased the first two wells in its Paddle River prospect located approximately 75 miles north west of Edmonton. The Paddle River prospect targets the Edmonton/Scollard/Belly River sands which are evident on logs from wells previously drilled on the subject lands. These wells are now awaiting completion and production testing, to be performed as soon as the weather permits. Unitech intends to acquire additional surface leases for three more wells between its Paddle River and Goodwin prospects which are planned to be drilled prior to December 31, 2006. Unitech Energy Resources Inc. uses LeadScan, its proprietary image analysis and pattern recognition system, to assist in its focus on high-working-interest, lower risk, oil and gas plays. Unitech's website is www.leadscan.ca. Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include but are not limited to risks inherent in the oil and gas industry, regulatory and economic risks, and risks associated with the company's ability to implement its business plan. The company undertake no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. The TSX Venture Exchange has not reviewed, and does not accept responsibility for, the adequacy or accuracy of this release.
