American Petro-Hunter's Rooney Project Tests at Over 200 Barrels of Oil per Day With Estimated 500,000 Barrel Potential
2009-12-09 08:00 ET - News Release
SCOTTSDALE, AZ -- (MARKET WIRE) -- 12/09/09
American Petro-Hunter, Inc. (OTCBB: AAPH) ("American Petro-Hunter" or the "Company") is pleased to announce the preliminary findings from the initial drill stem tests at the #24-1 Double H Oil Well on the Rooney Project, Kansas.
A 12 foot pay zone was encountered that produced excellent quality 44 degree oil in the tubing up to the surface from 5,400 feet of depth with fluid test results returning 99% oil cut. The strong down-hole reservoir pressure combined with the initial data results have allowed engineers to calculate that the well should be capable of producing in excess of 200 barrels per day. After a review of the 3D seismic data in conjunction with the electronic logs, the potential barrels of oil associated to the #24-1 Double H well and oil pool is currently estimated at 500,000 barrels.
The work over and completion rig has been scheduled to further test the well and prepare it for commercial production. The completion process should be accomplished by December 20th with the perforation of the casing and swabbing of the well. The Company anticipates having the #24-1 Double H well in production by January 1st 2010 at an Initial Production Rate (I.P.R.) of 200 Barrels Per Day.
The Company will announce the results of any additional tests as soon as they become available from the operator. The completion data will provide further information as to what the Initial Production Rates (I.P.R.) will be. The well could prove capable of exceeding the original estimates but the Company and partners may opt to produce the well at rates more amenable to the reservoir in order to maintain pressures and integrity.
Ultimately, daily production rates will be fully established once the well is put "on pump" and the actual barrels of oil produced to the tanks are measured. The first 90 days of production for a new well is critical to determine what the rates may level off to and what rates are best to maintain reservoir integrity. The construction of site facilities including storage tanks and pump-jack have been purchased and are awaiting delivery to the lease shortly after December 20th.
In related news, offset drilling locations are now being engineered and selected on the Rooney lease and the engineering team will be proposing the full development plan shortly.
Please visit www.americanpetrohunter.com to view background information on the project as well as recently posted photos of drilling operations in Kansas.
About the Rooney Project:
The Rooney Project is located in southwestern Ford County, Kansas 20 miles due south of Dodge City and totals 5,120 acres adjacent to the north edge of existing Morrow Sand oil and gas production. Based on a previously conducted 3D seismic shoot, the Company and partners have developed a minimum of 5 target locations to drill that could enable the Company to add 5 additional wells to its portfolio by the end of the third quarter of 2010. The operator of the project is S&W Oil & Gas, LLC of Wichita, Kansas.
About American Petro-Hunter, Inc. (OTCBB: AAPH)
American Petro-Hunter 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 plans to have the Rooney project in production shortly. 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.
-------------------- What will grow starts as invisible to the grown Posts: 68 | From: Vancouver | Registered: Jun 2009
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Last week a strong breakout run and no sell-off - up 100% from Fri Nov 27th close of .30
What do you think now?
This week: news on drill hole at Rooney Project: projected 200 BOE per day on estimated 500,000 reservoir, stock price hold up well, still no sell-off
News soon (next week?) from Wed news release:
They are going to be drilling more wells on the Rooney Propect, from Wed news: "...offset drilling locations are now being engineered and selected on the Rooney lease and the engineering team will be proposing the full development plan shortly."
So they are adding to production - this one is a no-brainer
company projects an increase in revenues of 15 X to 20 X over the next 24 months
o/s = 23,749,000
price range now (after last weeks breakout run) .60 - .63
-------------------- What will grow starts as invisible to the grown Posts: 68 | From: Vancouver | Registered: Jun 2009
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posted
American Petro-Hunter Completes #24-1 Double H Well -- Prepares for January Oil and Gas Production at Rooney, Kansas
2009-12-15 09:00 ET - News Release
SCOTTSDALE, AZ -- (MARKET WIRE) -- 12/15/09
American Petro-Hunter, Inc. (OTCBB: AAPH) ("American Petro-Hunter" or the "Company") is very pleased to announce that the completion program at the #24-1 Double H Oil Well on the Rooney Project is now finished and the well is being readied for full scale oil production.
The well was perforated and swabbed at hourly rates of oil flow in keeping with the Company's original estimates of over 200 barrels per day. The down-hole reservoir pressures have remained strong and steady producing excellent quality 44 degree oil which will sell at top dollar to oil purchasers in the area. Consequently, the Company believes that based on the completion results and recent seismic data, the find represents a significant discovery well in a new reservoir at Rooney.
Natural gas associated with the pay zone will necessitate the installation of a gas separator and hook-up to a gas pipeline located less than 1 mile away. Currently, the gas flow is estimated at between 70 to 80 MCF per day which will generate additional income from the well.
Rods are being positioned in the well and site preparations begin tomorrow for the construction of the tank battery, mounting of the pump-jack and installation of gas lines for hook up. The Company and operator plan to expedite all arrangements towards the commencement of full scale commercial oil and gas production currently slated for January 1, 2010.
The completion results confirm the projected Initial Production Rates (I.P.R.) with a possibility of exceeding those estimates. Final production rates will be based on the needs of the reservoir in order to maintain pressures and integrity. Daily production rates will be fully established once production has commenced and actual barrels of oil produced to the tanks are calculated.
About the Rooney Project:
The Rooney Project is located in southwestern Ford County, Kansas 20 miles due south of Dodge City and totals 5,120 acres adjacent to the north edge of existing Morrow Sand oil and gas production. The initial discovery well, #24-1 Double H is anticipated to begin production at rates over 200 barrels per day. After a review of the 3D seismic data in conjunction with the electronic logs, the potential barrels of oil associated well and oil pool is currently estimated at 500,000 barrels. The Company and partners have developed a minimum of 5 target locations to drill that could enable the Company to add 5 additional wells to its portfolio by the end of the third quarter of 2010. The operator of the project is S&W Oil & Gas, LLC of Wichita, Kansas. Please visit www.americanpetrohunter.com to view background information on the project as well as recent photos of drilling operations in 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 plans to have the Rooney project in production shortly. 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.
-------------------- What will grow starts as invisible to the grown Posts: 68 | From: Vancouver | Registered: Jun 2009
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