Namibia: UNX JV Partner HRT Sings 3D Seismic Contract with Polarcus

UNX Energy Corp. ,  announced that a 3D seismic contract has been signed between UNX’s joint venture partner and operator for Petroleum Licence 2813, HRT Participações en Peróleo S.A.  (“HRT”) and Polarcus Limited , to provide 3D seismic on Block 2813A in offshore Namibia.

UNX and HRT each own a 40% share in the 2813 contract area with the remaining 20% being owned by Acarus Investments (Proprietary) Ltd., a local Namibian company.

The joint venture plans to acquire 1,232 km2 of 3D seismic on the northern portion of Block 2813A in offshore Namibia. The program is an extension of UNX’s previously announced seismic program on Block 2713A, which targets a very large feature with multiple identified zones including a sub-shale feature. UNX’s share of the seismic program will be wholly funded from the monies the corporation raised in July and November of 2010.

“The extension of the 3D seismic program into Block 2813A will provide further detail on the size and extent of the large structural feature we have identified on Block 2713A,” said Mr. Gabriel Ollivier, President and CEO of UNX Energy. “The seismic will supplement our already robust data set and add to the compelling argument of the Orange Basin’s “Big Oil” prospectivity. This program greatly exceeds all of the joint venture’s required work commitments for Petroleum Licence 2813, at approximately twice the minimum required work commitment for the contract area.”

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.

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Source:UNX, January 28, 2011;