American Energy Development Corp. Enters Into Agreement to Acquire Reservoir Resources
September 20 2011 - 9:00AM
American Energy Development Corp. (OTCBB:AEDC) hereafter "AED", is
pleased to announce that AED has entered into an agreement to
acquire Reservoir Resources Ltd., an Ireland based oil and gas
company focused on the exploration of oil and gas basins in the
United Kingdom.
AED's acquisition, which is subject to the approval of United
Kingdom Department of Energy and Climate Control, positions the
company for exposure to the international oil and gas industry. The
acreage totals approximately 24,000 acres in an oil producing area
located among companies such as BP with its Wytch farm oil
field.
As part of AED's strategy to develop acreage using proven
technology, the acreage contains a seismic survey outlining the
prospect and drill locations, which we believe will minimize
risk.
AED now plans to construct a development program for the region
with the commencement of drilling planned to commence in 2012.
Herold Ribsskog, President of American Energy Development Corp.
said, "AED is continuing its planned acquisition of high quality
assets and using technology for best results. We are excited about
the prospect of the Reservoir acreage."
About American Energy Development Corp.
American Energy Development Corp. is an independent US energy
company committed to creating American energy independence through
the development of acreage in established oil and gas basins using
the latest geological, geophysical, and environmental technology to
locate, drill, and produce oil and gas in the United States and
secure regions. American Energy Development's focus is on the
development of Niagaran oil reefs in Michigan and the underexplored
onshore basins in the United Kingdom.
This press release contains forward-looking statements (as
defined in Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended)
concerning future events and the Company's growth and business
strategy. Words such as "expects," "will," "intends," "plans,"
"believes," "anticipates," "hopes," "estimates," and variations on
such words and similar expressions are intended to identify
forward-looking statements. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will
prove to have been correct. These statements involve known and
unknown risks and are based upon a number of assumptions and
estimates that are inherently subject to significant uncertainties
and contingencies, many of which are beyond the control of the
Company. Actual results may differ materially from those expressed
or implied by such forward-looking statements. Factors that
could cause actual results to differ materially include, but are
not limited to, changes in the Company's business; competitive
factors in the market(s) in which the Company operates; risks
associated with oil and gas operations inside and outside the
United States; and other factors listed from time to time in the
Company's filings with the Securities and Exchange Commission. The
Company expressly disclaims any obligations or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Company's
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is
based.
Cautionary Note to U.S. Investors - The United States
Securities and Exchange Commission permits oil and gas companies,
in their filings with the SEC, to disclose only reserves that
comply with the definitions presented at Rule 4-10(a) of Regulation
S-X. We use certain terms in this press release that the SEC's
guidelines strictly prohibit us from including in filings with the
SEC. Examples of such disclosures would be statements regarding
"probable," "possible," or "recoverable" reserves among others.
U.S. Investors are urged to consider closely the disclosure in our
Form S-1, File No. 333-169014, available from us at American Energy
Development Corp., 9190 Double Diamond Parkway, Reno, Nevada,
89521.
CONTACT: American Energy Development Corp.
Joel Felix
9190 Double Diamond Parkway
Reno, Nevada, 89521
(888) 542-7720
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