Oil and Gas Stocks News; American Petro-Hunter (OTCBB: AAPH) Announces NOS227 Well Completion Underway at North Oklahoma Project
SCOTTSDALE, AZ � March 29, 2011 (Investorideas.com energy newswire) - American Petro-Hunter, Inc. (OTC.BB:AAPH) ("American Petro-Hunter" or the "Company") is pleased to announce that the NOS227 well completion is underway at the North Oklahoma Project. The work over rig has arrived on site and commenced activities in order to finish the well and put it into commercial production.
When completed, NOS227 will become the 3rd production well at the North Oklahoma Project in Payne County, Oklahoma. The well was drilled to 3,820 feet and the completion plan has begun to test and complete for immediate and future production of the three objective formations which include 85 feet in the Mississippi, 45 feet in the Woodford Shale, and 4 feet in the Simpson. It is anticipated that co-mingled Mississippi/Woodford production could result in 100 to 150 BPD potential.
Electronic log data of the oil bearing formations underlying NOS227 indicates that the lower Simpson formation provides oil shows offering excellent permeability and porosity and will be perforated and tested first. Following that, the Company plans to move up hole and acidize the Woodford which appears to have better porosity characteristics than what was encountered at the previously drilled No. 1 well where acidizing resulted in swab rates of 80 barrels per day. As part of the completion of this formation, a light fracture stimulation ("Frac") of the Woodford is anticipated. Lastly, the 85 foot thick Mississippi will be acidized and fracked.
All three zones contain oil shows having the requisite permeability and porosity to produce oil in commercial quantities and the well has been cased to depth. Based on an engineering analysis of the well and logs, the Company believes the possibility of a Mississippi-Woodford well with comingled production from both formations is estimated to have a 100-150 BPD potential. Additional production may occur from the Simpson however, as the zone is limited, it may prove prudent to hold the added resource behind pipe with the reserve categorized as Proved Undeveloped.
American Petro-Hunter has a 50% interest in the well. Production from NOS227 will be sold alongside output from the No. 1 and NOJ26 wells to Sunoco, the regional purchaser. West Texas Intermediate Crude today has recently been priced at $104 per barrel.
About American Petro-Hunter, Inc. (OTCBB: AAPH)
The Company is a goal-oriented exploration and production (E&P) Company aiming to become an intermediate level oil and gas producer within 12 months. The Company is in production at the Poston Project in Trego County Kansas with new drilling activity and production underway at the North Oklahoma Oil Project. With the achievable target of becoming a 1000 BOE producer as our goal, American Petro-Hunter is actively on the "hunt" for domestic petroleum assets. Visit us at: www.americanpetrohunter.com
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD
American Petro-Hunter, Inc.
Robert McIntosh
President & C.E.O.
To find out more about American Petro-Hunter, Inc. (OTC.BB:AAPH), visit our website at www.americanpetrohunter.com
Contact:
Investor Relations:
Mountainview IR Services, Inc.
1-888-521-7762
investors@americanpetrohunterinc.com
When completed, NOS227 will become the 3rd production well at the North Oklahoma Project in Payne County, Oklahoma. The well was drilled to 3,820 feet and the completion plan has begun to test and complete for immediate and future production of the three objective formations which include 85 feet in the Mississippi, 45 feet in the Woodford Shale, and 4 feet in the Simpson. It is anticipated that co-mingled Mississippi/Woodford production could result in 100 to 150 BPD potential.
Electronic log data of the oil bearing formations underlying NOS227 indicates that the lower Simpson formation provides oil shows offering excellent permeability and porosity and will be perforated and tested first. Following that, the Company plans to move up hole and acidize the Woodford which appears to have better porosity characteristics than what was encountered at the previously drilled No. 1 well where acidizing resulted in swab rates of 80 barrels per day. As part of the completion of this formation, a light fracture stimulation ("Frac") of the Woodford is anticipated. Lastly, the 85 foot thick Mississippi will be acidized and fracked.
All three zones contain oil shows having the requisite permeability and porosity to produce oil in commercial quantities and the well has been cased to depth. Based on an engineering analysis of the well and logs, the Company believes the possibility of a Mississippi-Woodford well with comingled production from both formations is estimated to have a 100-150 BPD potential. Additional production may occur from the Simpson however, as the zone is limited, it may prove prudent to hold the added resource behind pipe with the reserve categorized as Proved Undeveloped.
American Petro-Hunter has a 50% interest in the well. Production from NOS227 will be sold alongside output from the No. 1 and NOJ26 wells to Sunoco, the regional purchaser. West Texas Intermediate Crude today has recently been priced at $104 per barrel.
About American Petro-Hunter, Inc. (OTCBB: AAPH)
The Company is a goal-oriented exploration and production (E&P) Company aiming to become an intermediate level oil and gas producer within 12 months. The Company is in production at the Poston Project in Trego County Kansas with new drilling activity and production underway at the North Oklahoma Oil Project. With the achievable target of becoming a 1000 BOE producer as our goal, American Petro-Hunter is actively on the "hunt" for domestic petroleum assets. Visit us at: www.americanpetrohunter.com
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD
American Petro-Hunter, Inc.
Robert McIntosh
President & C.E.O.
To find out more about American Petro-Hunter, Inc. (OTC.BB:AAPH), visit our website at www.americanpetrohunter.com
Contact:
Investor Relations:
Mountainview IR Services, Inc.
1-888-521-7762
investors@americanpetrohunterinc.com
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