Oil and Gas Stocks News; American Petro-Hunter (OTCBB: AAPH) Increases Targeted Production to 300 BOPD at NOS227 Well, North Oklahoma Project
SCOTTSDALE, AZ � April 5, 2011 (Investorideas.com energy newswire) - American Petro-Hunter, Inc. (OTC.BB:AAPH) ("American Petro-Hunter" or the "Company") is pleased to announce that based on a series of successful tests and an engineering analysis of the resulting data, the Company and its partners have determined that following an upcoming planned fracture stimulation ("frack"), the recently drilled NOS227 well has the potential to produce at an Initial Production Rate ("IPR") increased upwards from original estimates and now targeted at 300 barrels of oil per day.
The Company's well completion contractor based in Cushing, Oklahoma has worked with many companies and majors completing vertical and horizontal wells in the play and has reported that a newly designed multi-stage surge frack has been highly effective in dramatically increasing Mississippi production in the area.
Analogous vertical wells located nearby and to the north of NOS227 have paid out in less than 90 days when successful "fracks" of this type have been implemented. This formula equates to consistent production in the 300 BOPD range. Historically, Mississippi wells drilled in the township where our lease block is situated have produced oil at varying rates. It is only recently that new completion technologies have offered the potential to deliver vastly higher production through enhanced reservoir stimulation technologies.
The Company is now awaiting the timetable for the implementation of the multi-stage surge frack while construction of site facilities in the form of pump jack, tank battery and disposal facilities is underway. The NOS227 will become the 3rd production well at the North Oklahoma Project in Payne County, Oklahoma. The well was drilled to 3,820 feet which includes the 85 feet of the aforementioned Mississippi Formation.
Robert McIntosh, President and C.E.O. states, "We are amassing more technical and engineering information on the Mississippi and Woodford almost daily. Much of our planning for the field development of the area is based on a prudent 'watch & learn' approach by following the experiences of the well-funded major and intermediate operators in the immediate area. The more wells drilled and completed in Payne County in the Mississippi and Woodford formations provides us with an increasing body of exceptional data which significantly increases our expectations towards drilling and completing future successful producers destined to maximize existing and future production for our Company."
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 $108 per barrel and continues to rise based on instability in the Middle East.
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
The Company's well completion contractor based in Cushing, Oklahoma has worked with many companies and majors completing vertical and horizontal wells in the play and has reported that a newly designed multi-stage surge frack has been highly effective in dramatically increasing Mississippi production in the area.
Analogous vertical wells located nearby and to the north of NOS227 have paid out in less than 90 days when successful "fracks" of this type have been implemented. This formula equates to consistent production in the 300 BOPD range. Historically, Mississippi wells drilled in the township where our lease block is situated have produced oil at varying rates. It is only recently that new completion technologies have offered the potential to deliver vastly higher production through enhanced reservoir stimulation technologies.
The Company is now awaiting the timetable for the implementation of the multi-stage surge frack while construction of site facilities in the form of pump jack, tank battery and disposal facilities is underway. The NOS227 will become the 3rd production well at the North Oklahoma Project in Payne County, Oklahoma. The well was drilled to 3,820 feet which includes the 85 feet of the aforementioned Mississippi Formation.
Robert McIntosh, President and C.E.O. states, "We are amassing more technical and engineering information on the Mississippi and Woodford almost daily. Much of our planning for the field development of the area is based on a prudent 'watch & learn' approach by following the experiences of the well-funded major and intermediate operators in the immediate area. The more wells drilled and completed in Payne County in the Mississippi and Woodford formations provides us with an increasing body of exceptional data which significantly increases our expectations towards drilling and completing future successful producers destined to maximize existing and future production for our Company."
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 $108 per barrel and continues to rise based on instability in the Middle East.
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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