SCOTTSDALE, AZ — (Marketwire) — 03/26/12 — (OTCBB: AAPH) (“American Petro-Hunter” or the “Company”) today is very pleased to update the status of the NOW2H horizontal well on the Company–s leases in Payne County, Oklahoma.
The well has undergone upgrades that included a second frack and the installation of a submersible pump which has resulted in the doubling of the oil production rates. After several days on pump, the well has maintained production of oil at the rate of 30 barrels per day. To date, 550 barrels have been shipped from the well.
The Company–s 2nd Horizontal well was initially drilled in 2011 and commenced commercial oil and gas production in November at the North Oklahoma Mississippi Lime Project. A period of commercial testing and evaluation was undertaken and production data was assessed and evaluated from the lateral penetration of the Mississippi limestone formation (“Mississippi Lime”). The well had a much shorter lateral arm of 416 feet due to drilling complications as compared to the recently completed NOM3H at 1,980 feet of horizontal length that had an initial production (I.P. rate) of 236 BPD. It was subsequently determined to re-stimulate NOW2H in order to improve overall well performance.
The stimulation was undertaken in February and the results of I.P. rates at 36 BPD and 45 MCF of gas are an early indicator of the enhanced condition of the well. The Company and engineers are looking for a higher stable rate although removal of the frack load is estimated to continue for the next two weeks. Upon completion of this final hurdle, the Company looks forward to determining the well–s full production capability.
Company President Robert McIntosh states, “The re-stimulation of the NOW2H well and the resulting increase in production rates is an excellent indicator of a future outcome completely in line with the engineering estimates. As the lateral arm is only one fifth of our nearby productive well, an analog target of 60 BPD is completely relevant to the current I.P. rates as seen at the NOM3H. As the frack load is reduced and the oil cut increases, we believe our earlier targeted rates will be achieved.”
(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 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. Visit us at:
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
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Robert McIntosh
President & C.E.O.
To find out more about American Petro-Hunter, Inc. (OTCBB: AAPH), visit our website at
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