AERN AER Energy Resources Inc (CE)

AER Energy Resources, Inc. (PINKSHEETS: AERN) has successfully signed a Definitive drilling agreement with Black Gold Exploration LLC of Farmersville, TX. The agreement calls for a 50% joint venture interest for the drilling of a minimum of two new wells on leases in Knox County, Texas. Both companies expect successful drilling completion before the end of the year.

The Black Gold joint venture involves the drilling of two or more 1800 feet vertical wells through the Wolfcamp Lower Permian Sandstone, the Saddlecreek Sandstone, the Noodle Creek Sandstone and the Stockwether Limestone. Upon completion the companies expect well production to approximate 60 BOPD. At current oil pricing above $90 bbl, the estimated revenues are anticipated to exceed $2 million annually.

Stanley F. Wilson, AER Energy Resources, Inc. President and CEO, stated, "AER continues to execute its plan of investing in existing leases for the drilling of new wells and secondary recovery wells with established industry partners. This opportunity with Black Gold Exploration LLC is a superior example of our continued success."

ABOUT AER ENERGY RESOURCES, INC.

AER is a diversified holding company with an emphasis in oil and gas through its subsidiary, FTPM Resources, Inc. www.aernenergy.com. AER also operates a real estate and alternative fuels enterprise through its subsidiary, Global Wealth Group, Inc.

Note Regarding Forward-Looking Statements

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.