American Petro-Hunter, Inc. (OTCBB: AAPH) ("American
Petro-Hunter" or the "Company") is pleased to update activities
regarding the drilling of the newest Rooney Project Well. This will be
the third in a series of development wells to be drilled at the newly
discovered oil reservoir in Western Kansas. The well has been identified
as the #3 Rooney and is the latest in a series of 10 wells planned for
drilling in 2010 at the Rooney Project.
The Company is moving quickly towards a spud date and is in the process
of acquiring the requisite surface drilling permit from the State in
order to immediately begin site preparations and rig mobilization at the
well location. The partners plan to move the drilling rig to a location
that directly offsets the producing #24-1 Double H well. This location
represents the highest probability of success to drill another producer
similar to the Double H well and if the new location intersects similar
pay and pressures as the Double H, the two-well combination may be
capable of producing 400 Barrels per day when stable rates are achieved.
As the drilling success builds, we plan to continue the program by
stepping out in a grid pattern to maximize the oil production potential
and maintain reservoir integrity.
American Petro-Hunter remains fully committed to drill at least one well
per month in order to develop the newly discovered reservoir at Rooney.
Results from 3 hydrocarbon bearing zones encountered in the Shelor test
well are currently being analyzed and compared to the suite of
electronic well logs which indicate the reservoir trends towards the
newly chosen drilling location.
The Company is also pleased to report an ongoing data review of several
high quality production projects in Kansas and Oklahoma. The projects
are currently producing in the 100-150 BOE range with ample development
drilling locations. We are confident that with the developing oil
production position at Rooney and Poston combined with a strategic
acquisition, the net result could have American Petro-Hunter easily
reaching its goal of 500 BOE by June and 1000 BOE by the end of 2010.
About the Rooney Project:
The Rooney Project is located in southwestern Ford County, Kansas 20
miles due south of Dodge City and totals 7,040 acres adjacent to the
north edge of existing Morrow Sand oil and gas production. The initial
discovery well, #24-1 Double H commenced commercial production in
January. The potential barrels of oil associated with the discovery well
and underlying oil pool are currently estimated at 500,000 barrels and
the Company feels the potential for the newly discovered reservoir is
3,000,000 barrels of oil. The Company and partners have developed a
minimum of 10 target locations to drill that could add 10 additional
wells to our portfolio by the end of the fourth quarter of 2010 at a
planned drilling schedule of one new well per month. The operator of the
project is S&W Oil & Gas, LLC of Wichita, Kansas. The purchaser
of the oil production at Rooney is N.C.R.A. of McPherson, Kansas.
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 and at the Rooney Project in Ford County, Kansas.
Rooney is a new discovery for the Company that has the potential to
drill 10 oil wells in 2010 and may contain 3 million barrels of oil.
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.
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