Unbridled finally Unbridled

Since first announcing its plans for a private placement financing on March 18, 2008, Unbridled Energy Corporation has been precluded from issuing a press release on its field operations due to US SEC restrictions on the dissemination of news. With the successful closing of the placement, Unbridled is pleased to provide an update on its Appalachian Basin properties in the USA.

Marcellus Shale Play in Pennsylvania and West Virginia-

Unbridled has selected a land acquisition company to begin leasing in Pennsylvania (PA) and New York in strategic areas. Despite the land costs increasing to over $2,000/acre and the average Net Revenue Interest now between 80% and 82%, the Company believes that economic wells can be drilled. Obviously, many other oil and gas companies that are leasing and drilling test wells feel the same way. The strategy for Unbridled to compete in this intense market includes: 1) joint venturing with companies who wish to lease acreage where Unbridled would drill to earn and operate; and 2) joint venturing with companies that hold existing acreage and desire a partner to offset the risks inherent in new plays or desire to earn their acreage by drilling wells. The Company has identified a partner in southern PA and northern West Virginia. Development plans are being discussed.Unbridled is also in late-stage joint venture negotiations with another operator on acreage in northern PA. The Company plans to use a combination of vertical and horizontal wells depending on local geology and other factors. Based on recent public data, the anticipated production results from the Marcellus are 0.5 to 1.5 MMscf/d for vertical wells and 1 to 4 MMscf/d for horizontal wells. These rates are similar to those exhibited in the prolific Fayetteville, Barnett, and Woodford Shales. The gas content for the Marcellus is also in the range of these prolific shales................Regarding the Marcellus play, we're in late-stage negotiations, with two operators who hold existing acreage, to form joint ventures in West Virginia and Pennsylvania. This is exciting since it's not too often you can participate in a new large shale play in your own backyard."

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