AERN -AER Energy Resources, Inc. (PINKSHEETS: AERN) has entered into a 50/50 Partnership to participate in reworking thirty (30) shallow oil wells on 80 acres in Eastern Kansas. The Company will rework each of the thirty (30) wells through proven secondary recovery techniques. AER Energy has also secured an option to rework up to an additional sixty (60) wells on an adjacent 145 acres.
Stanley F. Wilson, AER Energy Resources, Inc. President and CEO, stated, "AER Petroleum, Inc. plans to complete the 30 Kansas reworks by early 3Q and will begin operations this summer following the 9 previously announced reworks. The 30 reworks are anticipated to begin secondary recovery operations in late August." Mr. Wilson added, "The additional 30 reworks are expected to produce a minimum of 30 BOPD and $100,000.00 in new monthly revenues (at current WTI market prices) upon completion."
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