Oil and Gas Stocks News; American Petro-Hunter (OTCBB: AAPH) Commences Oil Sales From Two New Wells at North Oklahoma Project
SCOTTSDALE, AZ � June 29, 2011 (Investorideas.com energy newswire) - American Petro-Hunter, Inc. (OTC.BB:AAPH) ("American Petro-Hunter" or the "Company") is very pleased to advise that the inaugural sale of production from the NOM1H (horizontal well) and NOS122 oil wells will be shipped from the North Oklahoma Project storage tanks on July 1st to Sunoco, the purchaser of production from the project.
This inaugural oil shipment adds two more production wells to the Company's growing portfolio. These two wells add to production from the No. 1 and NOJ226 wells for a current total of four active producers on the North Oklahoma Project. When the anticipated commencement of production from the NOS227 well comes online shortly, it will bring to a total of five commercial wells in Oklahoma. The Company will be reporting production figures as oil is shipped from the tanks at month end once actual numbers are tabulated.
The Company is confident in establishing a cumulative daily net production total of 130 BPD over the next 30 days. This number represents production from 5 wells in Oklahoma and two in Kansas for a total of 7 wells. Additional barrels of oil and potentially significant BOE (barrels oil equivalent) of natural gas are anticipated once stable production rates are established.
Based on the aforementioned net barrels from all projects, the Company estimates $4.2 million a year cash flow projection at current prices. The injection of revenue will be instrumental in meeting our planned development costs as additional offsets to the producers, including another horizontal well, are now in the final planning and scheduling stages.
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
This inaugural oil shipment adds two more production wells to the Company's growing portfolio. These two wells add to production from the No. 1 and NOJ226 wells for a current total of four active producers on the North Oklahoma Project. When the anticipated commencement of production from the NOS227 well comes online shortly, it will bring to a total of five commercial wells in Oklahoma. The Company will be reporting production figures as oil is shipped from the tanks at month end once actual numbers are tabulated.
The Company is confident in establishing a cumulative daily net production total of 130 BPD over the next 30 days. This number represents production from 5 wells in Oklahoma and two in Kansas for a total of 7 wells. Additional barrels of oil and potentially significant BOE (barrels oil equivalent) of natural gas are anticipated once stable production rates are established.
Based on the aforementioned net barrels from all projects, the Company estimates $4.2 million a year cash flow projection at current prices. The injection of revenue will be instrumental in meeting our planned development costs as additional offsets to the producers, including another horizontal well, are now in the final planning and scheduling stages.
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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