Stealth Ventures Ltd. Initiates Review Of Strategic Alternatives and Furthers Its International Transformation

CALGARY, Nov. 1 /CNW/ -- 
SLV tsxventure


CALGARY, Nov. 1 /CNW/ - Stealth Ventures Ltd. ("Stealth" or the
 "Company") [TSX.V: SLV] announces that its Board of Directors has
 initiated a process to identify, examine and consider a range of
 strategic alternatives available for enhancing shareholder value and
 has engaged Sayer Energy Advisors ("Sayer") as its advisor to assist in
 the review process.


The Company's Board of Directors continues to aggressively execute on
 its primary strategy of growing its presence in the international oil
 and gas sector and as such the Board determined that it was an
 appropriate time to assess strategic options to enable the Company to
 complete its transformation into the international arena.


In early January 2010 Stealth announced that it would be diversifying
 its business strategy. After closing a 2.5 million dollar private
 placement, along with changes at the Board level, Stealth began to move
 the focus of the Company into the international arena with an immediate
 focus on India. The Company's mandate is to leverage the Company's core
 competency by analyzing and developing high impact unconventional oil
 and gas resource plays primarily in India as well as south Asia. In
 June 2010 the Company entered into a Joint Study Agreement with the Oil
 and Natural Gas Corporation Ltd. India (ONGC) to evaluate emerging
 Unconventional Resource plays and opportunities in India. The Company
 is now completing its transformation, and diversification out of the
 North American marketplace which was, in the Board's opinion, the next
 logical step. The Company is drawing on its extensive unconventional
 resource-play experience, expertise and technology utilization, to
 favorably position itself in the early lifecycle of such resource
 development with the ultimate objective of adding shareholder value and
 growth. The announcement of the "Strategic Alternatives Process" will
 explore potential asset divestments, joint ventures, business
 combination, evaluation of additional financing and recapitalization
 opportunities or other alternatives to increase shareholder value and
 expedite the international transformation. Mr. Rudy Cech, will serve as
 chair of the special committee of the Company's Board of Directors
 established for this purpose. The special committee has a mandate to
 solicit, review and consider strategic alternatives with a view to an
 ultimate recommendation as to whether any proposed transaction is in
 the best interests of the Company and its security holders.


Corporate Asset


The Company's main domestic holding is in close proximity to the town of
 Vermilion Alberta where Stealth has assembled 143 sections of land.
 This year's production profile has been approximately 300BOE/D with
 current production hovering around 275BOE/D (not including wells that
 Stealth has shut in due to low gas pricing). All of the production is a
 sweet, dry gas product coming from a shallow shale formation called the
 Colorado Group of Shales (Colorado Group). In late 2009 Stealth
 initiated downspacing and co-mingling applications into the Alberta
 Energy Resources Conservation Board ("ERCB" or the "Board") to proceed
 with eight wells per section. Upon receipt of subsequent approval
 Stealth has the ability to co-mingle multiple horizons out of the
 Colorado Group. By early 2010 Stealth received approval for area-wide
 co-mingling on all Company lands and received downspacing approval for
 29 sections which are available for 8 wells per section drainage.
 Concurrent to this Stealth engaged Fekete Associates Inc. ("Fekete") to
 complete rate transient analysis on its longer producing properties.
 This work showed well density will approach 18 wells per section (36
 acre spacing) to ultimately drain the resource before interference is
 found. With full spacing approval, Stealth will have hundreds of
 locations available to the Company for development. 


Stealth Ventures Ltd. is a Calgary based junior oil and gas exploration
 and Development Company focused on the exploration for, acquisition,
 development and production of unconventional hydrocarbon reserves,
 derived primarily from shale, Coalbed Methane (CBM) and tight sand
 reservoirs.


Confidential Information is available immediately to qualified
 interested parties upon signing of a Confidentiality Agreement and an
 overview of Stealth Ventures Ltd and a Confidentiality Agreement are
 posted on the Sayer website at: http://www.sayeradvisors.com.


STEALTH VENTURES LTD.


"Derek Krivak"


Per: DEREK KRIVAK
Chief Executive Officer







Forward Looking Statements:


This News Release may contain forward-looking statements based on
 assumptions and judgments of management regarding future events or
 results that may prove to be inaccurate as a result of exploration and
 other risk factors beyond its control, and actual results may differ
 materially from the expected results. 


Disclosure provided herein in respect of BOEs may be misleading,
 particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1
 Bbl is based on an energy equivalency conversion method primarily
 applicable at the burner tip and does not represent a value equivalency
 at the wellhead.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
 (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
 ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS
 RELEASE. THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION.
 ACTUAL FUTURE RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED.


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table border="0" valign="top"tr valign="top"td align="left"Derek Krivak, President and CEObr/ Stealth Ventures Ltd.br/ Tel: [phone] Ext. 223br/ Fax: [phone]br/ a cr="true" href="mailto:[e-mail]"[e-mail]/a/td td align="left" /td td align="left" /td td align="left" /td td align="left" /td td align="left"Crystal Holdershawbr/ Sayer Energy Advisorsbr/ Tel.: [phone]br/ Fax: [phone]br/ Emails: a cr="true" href="mailto:[e-mail]"[e-mail]/a/td/tr/table

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