SCOTTSDALE, AZ — (Marketwire) — 04/02/12 — (OTCBB: AAPH) (“American Petro-Hunter” or the “Company”) today is very pleased to announce the spud of the SOM-1H horizontal well at the Company–s South Oklahoma Project.
The commencement of drilling operations occurred March 31st and is estimated it will take approximately 18 days to reach the planned lateral length of 2,500+ feet. The Company aims to report on overall progress and the presence of oil and gas shows encountered during the drilling period.
The SOM-1H marks the fourth in a series of horizontal oil and gas wells that the Company–s has participated in since May of last year and is the first to test for oil and gas in the Mississippi Lime on the new leases known as the South Oklahoma Project. The SOM-1H well will undertake the Company–s longest lateral drill effort to-date as part of the engineered plans for the project. We anticipate results similar to, or better than, the NOM3H well which produced I.P. rates of 230 barrels per day and 470 MCF gas.
As reported previously, the “South Oklahoma Project” covers 3,000 acres of leases south of Payne County. The approximately 2,000 foot horizontal arm is designed to exploit thick (100 + foot) sections of the Mississippi Lime in an area which has enjoyed a well-documented and lengthy period of historic production from vertical wells.
The Company anticipates that a commercially successful well will be able to increase overall production revenues by late May or early June this year. The drilling, completion and tie-in to pump and storage infrastructure of these horizontal wells has been taking approximately 60-80 days prior to the commencement of commercial oil and gas sales.
Company President Robert McIntosh states, “We continue to meet our announced drilling schedule and with the start of the SOM-1H, can begin in earnest to undertake the development of the 3,000 acres of leases acquired last year on the South Oklahoma Project. Results of this well will be critical in the development of future timelines, and when the evaluation period is complete, we will be able to compare our two projects with the aim of accelerating the project with the highest potential for near term success. If the new project meets or exceeds our expectations then additional wells will be proposed immediately.”
(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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