SCOTTSDALE, AZ -- (Marketwire) -- 07/20/11 -- American Petro-Hunter, Inc. (OTCBB: AAPH) ('American Petro-Hunter' or the 'Company') is very pleased to announce that the Company has executed a Purchase and Sale Agreement which entitles American Petro-Hunter to acquire a 40% Working Interest in a minimum of 3,000 acres of lands in South-Central Oklahoma. The Company has designated the new acreage as the 'South Oklahoma Project.'
The acreage covers highly prospective Mississippi Limestone targets which, through detailed sub-surface geological mapping and extensive engineering, show Mississippi targets similar and analogous to the recently discovered oil and gas reservoir now being exploited at the North Oklahoma Project. Based on the commercial success of the NOM-1H horizontal well, and the Company's recently announced development plan for the Northern project area which includes an additional 11 horizontal wells, the new South Oklahoma Project offers considerable opportunities to increase the Company's presence in this increasingly important and highly productive region. Additional lands may be acquired and added to the 3,000 acres as leasing is ongoing.
Currently, the Company and engineers have identified 5 key areas under the 3,000 acres which, if developed on 160 acre spacing, could allow future development of 18 additional locations for horizontal wells. Over the next several months, targets will be refined and prioritized with plans to spud the first well in late Q4 or early 2012. The Northern and Southern project development strategy aims for synchronized operations with new drilling commencing every other month, thus ensuring a continuous area wide drilling program throughout the next 24 to 36 months.
Company President Robert McIntosh states, 'By adding these new South Oklahoma projects to our asset base, the Company forecasts the regional drilling of up to 29 horizontal wells in the future which, based on the results we have seen to date, will give American Petro-Hunter a key presence in the emerging Mississippi play and demonstrates that growth by the drill bit is a formula for success in Oklahoma.'
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 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: 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.
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President & C.E.O.
To find out more about American Petro-Hunter, Inc. (OTCBB: AAPH), visit our website at www.americanpetrohunter.com
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