SCOTTSDALE, AZ -- (Marketwire) -- 03/01/11 -- American Petro-Hunter, Inc. (OTCBB: AAPH) ('American Petro-Hunter' or the 'Company') is pleased to announce that drilling operations have commenced at the NOS227 Well at the North Oklahoma Project, Payne County Oklahoma.
The well has been designated NOS227 and will be drilled to a planned depth of 4,000 feet. NOS227 will be a vertical well that is a direct offset to the recently completed commercial oil well at the NOJ26 location. The new well location is taking advantage of a favorable oil producing geological trend, and is up dip and to the west offsetting the existing production.
The productive Woodford and Mississippi formations are the primary objectives of the well with secondary potential in the Miesner and Skinner Sands. It is anticipated to take 10 days to reach the total depth (T.D.) after which any prospective oil shows will be tested. A successful Mississippian-Woodford well with comingled production from both formations is estimated to have a 150-250 BPD potential. American Petro-Hunter has a 50% interest in the well.
The NOS227 Well is scheduled to be the last vertical test the Company is planning, as our 2011 development plan calls for horizontal wells in the future. Recent horizontal successes in the Mississippian and Woodford by other E&P companies active in Payne County have provided valuable information regarding the potential of these two prolific formations for horizontal oil and gas potential. The Company will be providing regular updates as data comes in from ongoing field and development operations.
Company President Robert McIntosh states, 'We are pleased to be moving forward with our next well in Oklahoma and have embarked on an aggressive 2011 drilling schedule. Delays in commencement at NOS227 were due to almost unprecedented snowfall and related weather issues on the leases throughout the month of February. Now that spring conditions are upon us, we are returning to our scheduled activities and plan on having NOS227 in production, assuming a commercial success, later this month.'
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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