Investorideas.com - Oil and Gas Stocks; American Petro-Hunter (OTCBB: AAPH) to Commence Fracture Stimulation Program at NOJ26 Well
No.1 Well Stabilizing With Increased Oilcut as Predicted
SCOTTSDALE, AZ - November 1, 2010 (Investorideas.com energy newswire) - American Petro-Hunter, Inc. (OTC.BB:AAPH) ("American Petro-Hunter" or the "Company") is pleased to announce that completion processes have been finalized and down hole fracture operations have commenced with the onset of commercial production anticipated shortly.
The operator has advised that fracture stimulation of the lower oil bearing shale formation will proceed today. The plan was developed based on the results of a core analysis of the 40 foot oil shale pay zone. The analysis identified that the shale should respond favorably to an engineered program well within industry norms for the prevalent conditions.
Following the stimulation and circulation of fluids, the well will be immediately put on pump to commence production testing from the shale formation. Once the rate of flow has been established from the lower formation, the Company and operator will evaluate and announce the timeframe to complete the well by introducing the upper 40 foot Mississippi formation pay zone to a comingled production scenario.
In related news from the North Oklahoma Project, the No.1 well has returned to production during the past week. As anticipated, upon startup of the pump there was a flash of light, high gravity oil followed by an ongoing cleanup of fluids. It has been reported by the operator that oil cut and pressures are increasing on a daily basis and should stabilize within the next 7-10 days. Current estimates remain in the 75-80 barrel per day (BPD) range as predicted. The infrastructure at the well is in place and the gas separators, waste disposal and storage systems are all operating at peak efficiency. After a period of stabilization the Company plans to begin a third party reservoir engineering assessment in order to calculate a reserve estimate of oil in place under the No. 1 well location.
Additional developments from the North Oklahoma Project will be made available as soon as news from the field becomes available.
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 BOARDAmerican Petro-Hunter, Inc.
Robert McIntoshPresident & C.E.O.
To find out more about American Petro-Hunter, Inc. (OTCBB: AAPH), visit our website at www.americanpetrohunter.com
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