NOM1H is scheduled to spud tomorrow and is the first of an anticipated series of horizontal wells designed to exploit the Mississippi Formation. The over 100-foot thick limestone is the central focus of the well documented recent drilling and leasing frenzy in Oklahoma. Hundreds of horizontal wells have been executed, planned and/or implemented by companies such as Sandridge and Calyx in recent months. Of particular note, Sandridge announced in its latest year end filing that it had drilled and completed 29 wells with 8 remaining to be completed in the area.
The NOM1H well is anticipated to take several weeks to reach its engineered total depth, following which it will undergo a period of testing and evaluation. With the high success rate of analog wells in the area American Petro-Hunter has great hopes for a successful producer in this highly sought after oil play.
As the activity in the area has become extremely competitive, and information regarding detailed production rates of commercial quantities of oil and natural gas is increasingly regarded as tightly held information, the Company will endeavor to update stakeholders on a timely basis with drilling results as such information becomes available from the operator.
Company President Robert McIntosh states, "We are extremely pleased to have begun our very first venture into the realm of horizontal well drilling. This venture offers us a possibility like no other, to immediately and significantly increase our oil production. The opportunity to be right in the heart of the hunt for 'big oil' in Oklahoma is an exciting step for the Company and we hope will prove to be beneficial for all concerned."
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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This commentary from a DOE report, "Environmental Benefits of Advanced Oil and Gas Exploration and Production Technology", captures the enormous opportunity made possible by the technological advances pushed forward by Halliburton (NYSE: HAL) and others driven to find an economical approach to tapping into what the U.S. Geological Survey estimates is 2.5 to 3 trillion barrels of proven resources of shale oil throughout the world. Importantly for domestic producers, studies estimate that the U.S. has as much as 73% of the world's recoverable shale oil in contrast to only 5% of the world's recoverable crude oil.
About American Petro-Hunter, Inc. (OTCBB: AAPH)
This commentary from a DOE report, "Environmental Benefits of Advanced Oil and Gas Exploration and Production Technology”, captures the enormous opportunity made possible by the technological advances pushed forward by Halliburton (NYSE: HAL) and others driven to find an economical approach to tapping into what the U.S. Geological Survey estimates is 2.5 to 3 trillion barrels of proven resources of shale oil throughout the world. Importantly for domestic producers, studies estimate that the U.S. has as much as 73% of the world's recoverable shale oil in contrast to only 5% of the world's recoverable crude oil.