SCOTTSDALE, AZ -- (Marketwire) -- 03/07/11 -- American Petro-Hunter, Inc. (OTCBB: AAPH) ('American Petro-Hunter' or the 'Company') is pleased to announce today that the NOS227 Well at the North Oklahoma Project located in Payne County, Oklahoma has spud and the well is drilling ahead.
It is anticipated that NOS227 will reach its planned depth of 4,000 feet in seven days. As previously reported, the primary objective is the productive Woodford and Mississippi Formations with secondary opportunities identified in the Miesner and Skinner Sands. The location exhibits the potential for 80 plus feet of pay from the known productive formations which offset to the northwest and southeast.
American Petro-Hunter is currently producing oil from the Woodford and the Mississippian at its No.1 and NOJ26 wells. The new NOS227 is a direct offset to the recently completed commercial oil well at the NOJ26 location and takes advantage of a favorable oil producing geological trend up dip and to the west offsetting existing production.
A successful Mississippian-Woodford well with comingled production from both formations is estimated to offer a 150-250 BPD potential. American Petro-Hunter has a 50% interest in the well.
Company President Robert McIntosh states, 'The NOS227 location offers targets in the Mississippian and Woodford formations which are the current focus of all the considerable recent E&P excitement in Payne County. As the play in Northern Oklahoma unfolds throughout the year ahead, we anticipate announcements of big discovery wells from horizontal drilling in the area that rival some of the early Bakken Play results. The Company is strategically positioned with leases and locations that have prime Mississippian-Woodford access that will allow us to participate with drilling operations right in the heart of the play.'
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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