Wednesday, March 30, 2011

UnionTown Energy (OTC:UTOG) Appoints New Director: +10%

UnionTown Energy (OTC:UTOG) Appoints New Director: +10%Oxford, MS 3/30/2011 (Penny PayDay) -- UnionTown Energy Inc. (OTC:UTOG) today announced, in a press release, the appointment of Al Radford to the Company's Board of Directors. As I write, shares of UnionTown Energy were up 10 percent at $1.70 per share on heavy volume of just over 1 million shares. The company has a market cap of $365 million and a 52-week range between $0.38 and $2.60 per share.

According to the press release, Mr. Radford is currently the President of Formation Fluid Management Inc., a publicly traded company on the TSX Venture Stock Exchange. Previously, he was the General Sales Manager for Terroco Industries, a diversified oilfield service company, where he led an effort that grew sales from $22 million to $86 million in six years.

"Based on his extensive public company and oil industry experience, Mr. Radford will provide UnionTown Energy with strong operational management skills, business planning, reporting and corporate governance oversight," stated President and CEO Darren Stevenson. "We welcome his future contributions to our growing business, including receiving his input on key company decisions as we move forward with our business growth plan and property acquisition strategy."

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