Release Date: January 31, 2012
VANCOUVER, B.C. – Arctic Hunter Energy Inc. (TSX-V: AHU) (“Arctic Hunter” or the “Company”) is pleased to announce that the Company has participated in successfully drilling, completing , and brought onto production another well situated on its Landrose property in west central Saskatchewan in the Company’s core heavy oil operating area. The Company had entered into a Sub-Participation Agreement with Alberta Star Development Corp. (“Alberta Star”) (NR: December 20, 2011) and under the terms of the agreement, Arctic Hunter agreed to participate with Alberta star in the drilling of this test well. Alberta Star holds a 50% working interest in the new well. Under the terms of the Sub-Participation Agreement, Arctic Hunter must pay 50% of the Alberta Star’s share of the costs, to drill, complete and equip the test well to earn a 25% working interest (being 50% of Alberta Star’s pre-participation 50% working interest) in the well. The well is located in Landrose, Saskatchewan on Section 6-50-26-W3M, and is now on production and is the third successful well brought onto production by the Company at Landrose which now accounts for 100% of the Company’s heavy oil revenue and production.