The stocks is trading up over 11% on news that the Company projects over $4 Million/Year in cumulative oil sales, announced earlier this morning.
News: American Petro-Hunter Commences Oil Sales from Two New Wells at North Oklahoma Project
American Petro-Hunter, Inc. (OTCBB: 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.
About American Petro-Hunter, Inc. (OTC.BB: 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 the North Oklahoma 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. www.americanpetrohunter.com.
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