UGE UGE International Ltd

SANTA BARBARA, CA, April 16, 2012 /CNW/ - Mr. Michael Kobler, CEO of Underground Energy Corporation ("Underground " or the "Company") , is scheduled to present a corporate overview of the Company at the Independent Petroleum Association of America's (IPAA) Oil and Gas Investment Symposium (OGIS) on Wednesday, April 18(th), 2012 at 2:50 p.m. ET. The conference will be held at the Sheraton NY Hotel & Towers in New York, NY, from April 16(th) - 18(th), 2011. A live audio link to the webcast presentation will be available at: http://www.investorcalendar.com/CEPage.asp?ID=168067, or on the Company's website at www.ugenergy.com. It is recommended that listeners log on 10 minutes in advance of the presentation to register and download any necessary software. The Company intends to post a copy of the presentation to be given at OGIS on its corporate website. About Underground Energy Corporation Underground Energy is focused on identifying, acquiring rights to, exploring for, developing and producing oil reserves from shale formations in North America using the latest exploration and recovery techniques and technologies. Underground focuses on identifying and acquiring sizable land positions and prospects in historically prolific but under-explored shale formations as well as in emerging shale plays that, in both instances, hold large volumes of prospective resources. Underground currently holds hydrocarbon rights on approximately 69,291 net acres of highly prospective lands in California and Nevada with an initial focus on the Monterey shale in California. Underground is listed on the TSX Venture Exchange under the ticker symbol "UGE". For more information on Underground, including a copy of the Company's latest corporate presentation, please visit www.ugenergy.com. Underground's regulatory filings are available under the Company's profile at www.sedar.com. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Underground Energy Corporation CONTACT: Peter BallacheyChief Financial OfficerUnderground Energy CorporationTel: 805-845-4700 x 17Simon ClarkeVice President, Corporate DevelopmentUnderground Energy CorporationTel: 604-551-9665

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