American Petro-Hunter Updates #1 Lutters Well Production Schedule
May 27, 2009 4:00:00 AM
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View Additional ProfilesSCOTTSDALE, AZ -- (MARKET WIRE) -- 05/27/09 -- American Petro-Hunter, Inc. (OTCBB: AAPH) ("American Petro-Hunter" or the "Company") wishes to update the ongoing activities at the #1 Lutters Well oil well at the Poston Prospect located in Trego County Kansas.
American Petro-Hunter and the operator of the project, S & W Oil & Gas, LLC of Wichita, have determined that construction for the pad site and tank battery will begin on June 1st. The Operator has installed 5 1/2" casing and cement in preparation for completing the well. Additionally, arrangements have been made for the imminent arrival of pumping equipment in readiness for the establishment of commercial oil production.
A completion rig is scheduled to arrive at the site on approximately June 10th with the aim of completing the well by setting tubing, rod, pump jack and related equipment. The Company anticipates production will commence mid-June and is already planning our next drilling program. Management will endeavor to keep stakeholders updated in a timely manner should these dates change due to weather conditions.
Following an upcoming meeting scheduled for later this week with the operator, the Company plans to announce the proposed drilling schedule for the next in a series of off-set well locations at the Poston Prospect. The program is currently in an advanced design stage and is aimed at a rapid exploitation of our new oil discovery in Kansas.
About the Prospect:
The #1 Lutters well targeted oil in the Mississippi Dolomite and/or Cherokee sands. The location showed a significant 3D Seismic anomaly pinpointing an oil bearing zone. In addition, the 750 acre lease block has the potential for a multi-well program with 2 to 3 offset locations possible to fully exploit the acreage. Engineering estimates of the potential production from the indicated pay zone is between 35 and 100 barrels per day from a successful well. Full development of the field could produce up to 400 BOPD of light oil. There is excellent transportation and support infrastructure in the area easily supporting a requisite storage tank battery at the location.
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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John J. Lennon
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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