Hinto Energy Collects 5,000 Utah Uintah Acres

Acquired company with 5,000 gross acres of mineral interest in Uintah Basin in UT.

Hinto Energy Inc., Denver, (OTCBB: HENI) has completed the acquisition of Arvada, Colo.-based South Uintah Gas Properties Inc. for $19.8 million in stock and assumed debt.

Hinto issued 11.45 million shares, which were valued at approximately $1.70 each at press time. Hinto also assumed approximately $375,000 in notes and liabilities.

Hinto has acquired approximately 5,000 gross acres of mineral interest in the Uintah Basin in Utah. The property consists of deep oil and gas rights, only below about 10,000 feet, together with one gas well that has been shut in due to lack of pipeline access.