Unitech Energy announces commencement of drilling

CALGARY, Aug. 23 /CNW/ - The Company is pleased to announce that it has
farmed-out a working interest in its 100%-owned, 2 3/4 section Paddle River
prospect to an independent industry partner. The farm-out agreement calls for
the farmee to provide 75% of the drilling, completion, and tie-in funds in
return for 37.5% of production. The farmee also has an option to participate
in additional wells within the prospect. The Paddle River prospect targets the
Edmonton/Scollard/Belly River sands which are evident on logs from wells
previously drilled on the subject lands. A drilling rig is currently moving to
the prospect and two test wells are to be drilled within 2 weeks of this
release.
The Company further announces that, consistent with its objective of
acquiring high working interest prospects, it has acquired a 100% interest in
two additional sections of land at a recent government land sale.

Unitech Energy Resources Inc. is a TSXV-listed company that trades under
the symbol "URX". The Company 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. The Company website is
at www.leadscan.ca

The TSX Venture Exchange has not reviewed, and does not accept
responsibility of the adequacy or accuracy of, this release.