AER Energy Completes Purchase of Rehoboth Oil & Gas Leases
(firmenpresse) - SCOTTSDALE, AZ -- (Marketwire) -- 11/30/11 -- AER Energy Resources, Inc. (PINKSHEETS: AERN) has closed on the first funds called for under its agreement with Rehoboth Oil & Gas, LLC of Baytown, TX for the purchase of three oil and gas leases and the existing producing wells. This closing will also trigger the immediate sale of 200 bbls that have been stored pending AERN's closing.
Stanley F. Wilson, AER Energy Resources, Inc., President, stated, "AER Energy is pleased to meet this Corporate benchmark with the purchase of Rehoboth. The three Rehoboth leases and producing wells places AER Energy ahead of 2011 planned milestones with revenues from this project estimated to yield over $500,000 in new annual revenues. Four Additional wells are planned to be drilled on the Rehoboth leases next year."
AERN believes history has demonstrated reworking existing Shallow wells are among the lowest risk well investments; involving little drilling and remains potentially one of the most profitable methods to successful well completion. The company contracts all drilling, completion and production phases in both oil and gas wells in Texas and Kansas to Multiplex Resources of Houston, TX.
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: 30.11.2011 - 21:01 Uhr
Sprache: Deutsch
News-ID 92722
Anzahl Zeichen: 3621
contact information:
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SCOTTSDALE, AZ
Kategorie:
Oil & Gas
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