Atlas Engineered Products Ltd. (APEUF)

[Nyago]

New 52 week high again and good news

May 03, 2013 14:40 ET
Archer Petroleum Corp.-Announces Winning Bid for 918 Acre Bituminous/Asphaltic Sands Lease

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 3, 2013) -Archer Petroleum Corp (TSX VENTURE:ARK)(OTCQX:APEUF)(DBFrankfurt:A6VA) ("Archer" or the "Company")
is pleased to announce that the Company has placed a winning bid with the School and Institutional Trust Lands of Utah for a bituminous/asphaltic sands lease comprising 918.95 acres in Sunnyside Tar Sands play in Carbon County, Utah. The Sunnyside Tar Sand deposit is believed to be one of the largest single deposits of bituminous/asphaltic oil sands in the United States and has been the subject of extensive exploratory analysis of the heavy oil/bitumen by various E&P companies in the past (Source: U.S. Department of the Interior Bureau of Mines, "Surface and Shallow Oil Impregnated Rocks and Shallow Oil Fields in the United States", 1965). Closing of the acquisition of this lease is subject to the formal execution of lease documents as provided by School and Institutional Trust Lands of Utah and is expected to happen in the coming weeks.