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UHO United Hunter Oil and Gas Corp

0.09
0.00 (0.00%)
24 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
United Hunter Oil and Gas Corp TSXV:UHO TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.09 0.45 0.45 0 01:00:00

United Hunter Oil and Gas Corp. Announces Director Resignation

31/05/2013 7:18pm

Marketwired Canada


United Hunter Oil & Gas Corp. (TSX VENTURE:UHO) ("UHO").

United Hunter Oil & Gas Corp. (the "Corporation"), announces the resignation of
Mr. Arthur Halleran as CEO of the Corporation and from the Corporation's board
of directors effective as of May 30, 2013. Mr. Tim Turner will act as the interm
CEO. Mr. Turner brings extensive operational experience in United States
including exploration and production management skills and land management
expertise.


The Company also announces the divestiture of 100% of its interest in the
Canadian Atlee Buffalo property to Safiro Petroleum Ltd. Safiro Petroleum Ltd.
will assume all the Companies debt related to Atlee Buffalo for a deemed
purchase price of $166,084 and assume any abandonment and environmental
liabilities associated with Atlee Buffalo. In these difficult Market conditions
it is difficult to invest capital in the heavy oil Atlee Buffalo Property. The
Company will focus on its California properties.


Additionally, Mr. William Smith will be granted 350,000 options. The options
have an exercise price or $0.10 per common share, 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 on the date of grant. All options grants are subject to regulatory
approval.


United Hunter Oil & Gas Corp. (www.unitedhunteroil.com) is a Canadian based
corporation with management very experienced in the oil and gas industry with
projects in California and Canada. United Hunter Oil & Gas Corp. is publicly
traded on TSX Venture Exchange (TSX VENTURE:UHO). 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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
United Hunter Oil & Gas Corp.
Mr. Bill Smith
CFO
(647) 402-5541

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