American Petro-Hunter on the Road to Becoming an Intermediate Oil and Gas Producer as Cash Flow Increases
July 07 2011 - 7:00AM
Marketwired
American Petro-Hunter (OTCBB: AAPH) announced yesterday that their
previously forecasted estimates of $4.2 million in cash for the
year from oil and gas sales (Company press release on 6/29/2011)
has now been raised to $5 million after the company commenced gas
sales. The Company began selling natural gas into the pipeline at
the North Oklahoma Project on July 5th.
American Petro-Hunter is in good company as Newfield Exploration
(NYSE: NFX), SandRidge Energy (NYSE: SD) and Cimarex Energy (NYSE:
XEC) are looking to the geographical mid section of the US as
potential drilling targets. The North Oklahoma area has become a
target for drilling as operators become more focused on new
drilling techniques like horizontal drilling or reworking already
explored areas to reach previously unobtainable oil and gas
deposits.
If oil and gas prices reach the expected average of $100 a
barrel by year end as many analysts project, American
Petro-Hunter's estimates of $5 million may end up being a
conservative cash flow figure.
For more information, please visit
www.americanpetrohunter.com
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