|By Marketwired .||
|July 25, 2014 05:29 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/25/14 -- United Hunter Oil and Gas Corp. (TSX VENTURE:UHO) ("UHO" or the "Company") announces that the Second Appellate District, Court of Appeal of the State of California has affirmed the Superior Court of California, County of San Luis Obispo's ruling to dismiss the writ and takings lawsuit filed by Excelaron, LLC (UHO is a 65% partner of Excelaron) in regards to the San Luis Obispo Board of Supervisors denial of the permit to drill the Mankin's (Huasna) Oil Field.
UHO is currently reviewing all of its options related to the Huasna Prospect at this time, including the filing of an immediate appeal to the Supreme Court of California.
By way of update on the Company's efforts on the Porter Ranch prospect also in San Luis Obispo County (the Company has a 25% joint venture interest in Alamo Creek Oil LLC ("Alamo Creek"), an exploration stage company based in San Luis Obispo, California), Alamo Creek recently learned that the County Planning Department accepted as complete the minor use permit application on the Porter Ranch (DRC 2013-00062) proposed exploration plan. Alamo Creek, through its operator and partner in the project, Production Specialties Company, has subsequently amended that permit application to limit the exploration to a single well on the southern Pad A (the previous application sought to drill up to 4 wells) to help alleviate local concerns for the drilling of 4 wells in the area. The County is currently evaluating that amended application. The multi-disciplinary evaluations already conducted to date have concluded that no serious or major disturbance to an environmental resource could reasonably be anticipated by the drilling of these wells.
The amended one well exploratory drilling proposal in the middle of the Porter Ranch 4,000+ acres, a project that was previously approved by the County several years ago, is now being sought for two primary reasons: 1. to establish whether mineral resources in commercial quantities are accessible in the area, and 2. to collect and evaluate basic data that will provide a more accurate forecast of the necessary facilities, environmental assessments and plans needed in the event that a future production facility is proposed.
United Hunter's President and CEO, Timothy J. Turner made the following statement: "The decision by the Appeals Court is unquestionably disappointing to the Company and certainly unfortunate for the mineral interest owners being denied access to their mineral estate. Together with our other partners in this project, we will decide what alternatives we have going forward and continue to pursue those options vigorously. However, we continue our efforts to get an approval on our Porter Ranch permit request and have addressed every concern that the County has requested and hope these efforts will be successful and result in the ultimate approval for this project."
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 the United States. 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.
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.
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.
United Hunter Oil and Gas Corp.
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