AERN Identifies Rework Targets and Sells Oil
(firmenpresse) - SCOTTSDALE, AZ -- (Marketwire) -- 01/12/12 -- AER Energy Resources, Inc. (PINKSHEETS: AERN) is pleased to announce today that the Copeland, Allie Wade and South Wade leases have successfully sold the first 131 bbls of oil in 2012. Wade Well Service, LLC (a private company) was retained to operate the 3 leases located in Archer and Young Counties, Texas.
The leases have 6 existing wells, of which 3 are producing and 3 wells that will be reworked. The operator has identified the additional 3 wells for rework and has established a budget for the necessary work.
"Because of today's price of oil, a lot of the wells that were shut in during times of low oil prices are now profitable again. We're in an excellent position to take advantage of higher oil prices and current industry technological improvements we're employing on our current properties and on all our acquisitions," commented Stanley F. Wilson, President of AER Petroleum, Inc., a wholly owned subsidiary of AER Energy Resources, Inc.
The lease acreage permits spacing that will allow additional wells to be drilled subject to receipt of permitting as required, satisfactory geological and engineering reports and subject to economically feasible cost and financing analysis. It is estimated that an additional 4 wells will be drilled in 2012. Upon completion of all 6 existing wells, AERN anticipates $20,000.00 per month in added revenues.
AER Energy Resources, Inc. () is a diversified holding company with an emphasis on oil and gas exploration, drilling, well completion and fuel distribution.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to," "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
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Datum: 12.01.2012 - 14:15 Uhr
Sprache: Deutsch
News-ID 103624
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SCOTTSDALE, AZ
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Oil & Gas
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