Direct link to American Petro-Hunter, Inc.’s April “Corporate Overview”: http://www.americanpetrohunterinc.com/about/AAPHCorporateOverview.pdf
Direct link to American Petro-Hunter, Inc.’s previous news release dated May 10, 2010: http://www.americanpetrohunterinc.com/news/news.aspx?nrnum=341
American Petro-Hunter Drilling Operations Commence at #2 Double-H Oil Well at Rooney Project, Kansas
SCOTTSDALE, AZ -- (Marketwire) -- 05/13/10 -- American Petro-Hunter, Inc. (OTCBB: AAPH) ("American Petro-Hunter" or the "Company") is pleased to announce that preparations are underway for the arrival today of the drill rig and ancillary equipment with operations at the Rooney Project to commence immediately, with the spud of the #2 Double-H well planned to begin as soon as the rig has been set.
The #2 Double-H continues the series of development wells planned for the Rooney property in Ford County, Kansas and is being drilled as a direct offset to the #1 Double-H. The well targets the newly discovered reservoir estimated to contain in excess of 3 million barrels of oil at a location that maximizes the thickness of both Mississippian and Morrow sand. The #2 Double-H will be drilled to 5,400 feet, thereby matching the total depth (T.D.) of the #1 well.
It is expected to take approximately 7 days to reach the T.D. after which any encountered oil shows will be drill stem tested. Well completion is anticipated as the #2 Double-H sits in close proximity to the discovery well. In the event of a call as a commercial producer, the Company anticipates a rapid tie-in to the existing infrastructure which includes a recently installed tank battery at the Rooney lease.
About the Rooney Project:
The Rooney Project is located in southwestern Ford County, Kansas 20 miles due south of Dodge City and totals 7,040 acres adjacent to the north edge of existing Morrow Sand oil and gas production. The initial discovery well, #24-1 Double-H commenced commercial production in January. The potential barrels of oil associated with the discovery well and underlying oil pool are currently estimated at 500,000 barrels and the Company feels the potential for the newly discovered reservoir is 3,000,000 barrels of oil. The Company and partners have developed a plan that includes drilling 10 target locations by the end of the fourth quarter of 2010 at a planned drilling schedule of approximately one new well per month, depending on rig availability. The operator of the project is S&W Oil & Gas, LLC of Wichita, Kansas. The purchaser of the oil production at Rooney is N.C.R.A. of McPherson, Kansas.
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 and at the Rooney Project in Ford County, Kansas expected Oklahoma production shortly. 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 TH E BOARD
American Petro-Hunter, Inc.
Robert McIntosh
President & C.E.O.
To find out more about American Petro-Hunter, Inc. (OTCBB: AAPH), visit our website atwww.americanpetrohunter.com
Investor Relations:
Mountainview IR Services, Inc.
1-888-521-7762
investors@americanpetrohunterinc.com
Source: Market Wire (May 13, 2010 - 8:30 AM EDT)
News by QuoteMedia
AAPH American Petro-Hunter Inc | 5/12/2010 3:53 PM |
Last: | Change: | Open: | High: | Low: | Volume: | |
0.96 | UNCH | 0.98 | 0.99 | 0.95 | 516,449 | |
Percent Change: | Yield: | P/E Ratio: | 52 Week Range: | |||
n/a% | n/a | n/a | 0.22 to 1.14 |
Company Data |
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Company Name: | American Petro-Hunter Inc |
Dow Jones Industry: | |
Exchange: | OTC BB |
Shares Outstanding: | 23,748,561 |
Market Cap: | 22.8 Million |
Short Interest: | Exchange provides no short interest data. |
52-Week EPS: | -0.07531 |
52-Week High: | 1.14 on Wednesday, March 03, 2010 |
52-Week Low: | 0.22 on Tuesday, November 17, 2009 |
P/E Ratio: | n/a |
Yield: | n/a |
Average Price: | 0.8280 (50-day) 0.5877 (200-day) |
Average Volume: | 385,784 (50-day) 197,085 (200-day) |
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Sincerely,
Brad Long – Investor Relations
American Petro-Hunter, Inc.
Toll Free: 888-521-7762 (US and Canada)
Direct: 360-332-9821 (Pacific Standard Time)
FAX: 360-332-9841
Email: brad@americanpetrohunterinc.com
Website: www.americanpetrohunterinc.com
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