Just announced this morning at 6:30 AM EDT, UnionTown Energy Inc. (UTOG) Signs Letter of Intent to Acquire 11,000+ Acre Teton River Oil and Gas Property in Northwest Montana.

Good Morning Fellow Investors,

Just announced this morning at 6:30 AM EDT, UnionTown Energy Inc. (UTOG) Signs Letter of Intent to Acquire 11,000+ Acre Teton River Oil and Gas Property in Northwest Montana.

This is more great news for UTOG shareholders! We believe solid and continuous news, coupled with market volatility from the shorts, will present many great entry points for savvy investors to get into the market. Take this week as an example, with lows in the $1.60 range and highs in the $1.90 range. Check out www.AmericanEnergyReport.com and look for our UTOG ALERTS: What's New?" daily updates box, which is updated frequently during the day. Right now don't miss, Recent Price Dips Create Buying Opportunities!

Highlights of the press release are below.

UnionTown Energy Inc. (UTOG) Signs Letter of Intent to Acquire 11,000+ Acre Teton River Oil and Gas Property in Northwest Montana

BILLINGS, MT--(Marketwire - April 13, 2011) - UnionTown Energy Inc. (OTCBB: UTOG) is pleased to announce that it has signed a non-binding Letter of Intent ("LOI") to acquire the 11,000+ Acre Teton River oil and gas property in northwest Montana.

A $100,000 non refundable deposit has been advanced on the signing of the LOI to be applied towards the final purchase price. Terms of the definitive agreement are being finalized and will be announced on closing of the transaction, which is expected to occur within the next 30 days.

The Swift Sandstone oil field is the primary reservoir target. Downdip oil on the Belt Island High was first identified around 1980 and led to exploration efforts in the area.

Two nearby oil fields, the Bannatyne and Utopia, are currently producing from the Swift formation. UnionTown believes that Swift Sandstone displays better porosity, oil saturation, permeability and feet of pay than that evident in either of the nearby fields. Previous exploration wells drilled on the Teton River property have shown positive oil results.

"We are excited to have signed a letter of intent to acquire the Teton River property, which has nearly 28 years of exploration history and shows great medium-term production potential," said UnionTown's President and CEO Darren Stevenson. "The combination of higher overall oil prices in the foreseeable future and recent advances in recovery technologies, such as Steam Assisted Gravity Drainage (SAGD), makes this acquisition very attractive to us at this time."

Teton River is the third Montana oil property that UnionTown has targeted for acquisition in the last month. The first two acquisition targets, Musselshell and New Miami, have already been successfully closed and have combined estimated recoverable oil reserves of 12.8 million barrels over approximately 8,480 acres.

The full press release can be read here.... http://finance.yahoo.com/news/UnionTown-Energy-Inc-UTOG-iw-1559308530.html?x=0&.v=1

Ladies and gentlemen, short, sweet and simply put - this is amazing news for UTOG shareholders! We will follow up later today with additional insights and news.

Good trading!

The PennyTipster.com Team