UNX ENERGY SIGNS 3D SEISMIC CONTRACT WITH POLARCUS

CALGARY, Jan. 25 /CNW/ -- 
CALGARY, Jan. 25 /CNW/ - UNX Energy Corp. (TSX-V: UNX) ("UNX" or "the
 Company"), an emerging oil and gas company with interests offshore
 Namibia, has signed a 3D seismic contract with Polarcus Limited (OAX:
 PLCS). UNX plans to acquire 1,460 km(2) of 3D seismic in the 90%-owned 2713 blocks in offshore Namibia. 


The 3D seismic program is targeted over a very large feature with
 multiple identified zones including a sub-shale feature that the
 Company feels is similar to the Brazilian sub-salt discoveries in the
 Santos and Campos basins.  The program is primarily located in the
 southern portion of Block 2713A, adjacent to the 2813 contract area in
 which UNX also holds a 40% interest. The program is expected to
 commence shooting in March 2011. The seismic program will be funded
 from monies raised in July and November of 2010.


"We are very pleased to be acquiring 3D seismic data for Block 2713A as
 it will give us full coverage over a structure that appears to be much
 larger than first mapped due to our re-processing and conversion from
 time to depth of the existing 2D seismic data," said Mr. Gabriel
 Ollivier, President and CEO of UNX Energy. "The new 3D seismic data
 will enhance the details of the structure and the prospective zones
 identified, allowing us to further refine ideal drilling locations. We
 are currently working towards updating existing resource estimates and
 providing additional independent resource estimates on all of our
 Namibian blocks. The key focus of our 2011 work program is finalizing
 drill-ready locations for major oil companies that are interested in
 farming-in on UNX acreage. This seismic program greatly exceeds UNX's
 required work commitments for the 2713 Petroleum Licence at
 approximately three times the minimum required work commitment of 500
 km(2)."


About UNX Energy Corp.


UNX Energy Corp. is a junior, independent oil and gas company, focused
 on exploration for crude oil in offshore Namibia, Africa. Headquartered
 in Calgary, Alberta, Canada, UNX's asset base consists of approximately
 51,000 square kilometres (approximately 32,000 net) of offshore
 acreage, strategically located along the prolific South Atlantic
 Margin. Development of these highly prospective blocks is being
 advanced by an experienced management team, qualified technical staff
 and strong in-country relationships. UNX employs strategic technical
 expertise to optimize the probability of exploration success in the
 region. UNX is committed to conducting its business in a socially and
 environmentally responsible manner, ultimately working towards the goal
 of sustainable development in Namibia's oil and gas sector for the
 benefit of all stakeholders.


On Behalf of the Board of Directors
of UNX Energy Corp.


Duane Parnham
Chairman


For further information visit our website at www.unxenergy.com
Sedar Profile #00016276


Forward Looking Information


This news release contains certain forward-looking statements that
 reflect the current views and/or expectations of UNX Energy Corp. with
 respect to its performance, business and future events. Investors are
 cautioned that all forward-looking statements involve risks and
 uncertainties including, without limitation, those relating to changes
 in the market, potential downturns in economic conditions, foreign
 exchange fluctuations, changes in business strategy, regulatory
 requirements, demand for our resources, competition and dependence
 on key personnel. These risks, as well as others, could cause actual
 results and events to vary significantly. UNX Energy Corp. does not
 undertake any obligations to release publicly any revisions for
 updating any voluntary forward-looking statements.


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 release.


To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/January2011/25/c4969.html



pMaria Elliott, VP Finance & CFObr/ Telephone: [phone]br/ Email: a href="mailto:[e-mail]"[e-mail]/abr/ br//p table border="0"trtdDavid Feick, Investor Relations   br/ Telephone: [phone]   br/ Email: a href="mailto:[e-mail]"[e-mail]/a  /td td /td td /td td /td td /td td /td tdHeidi Christensen Brown,  Investor Relationsbr/ Telephone: [phone]br/ Email: a href="mailto:[e-mail]"[e-mail]/a/td/tr/table

Copyright