AER Petroleum Begins Partnership in Nine Well Kansas O&G Secondary Recovery Drilling Program
April 12 2012 - 9:15AM
Marketwired
AER Energy Resources, Inc. (PINKSHEETS: AERN) has entered into a
50/50 Partnership to participate in reworking nine shallow oil
wells in Kansas. The Company will rework each of the nine wells
through proven secondary recovery techniques and take part in
drilling up to four additional new off-set wells, while continuing
to utilize the latest proven drilling technologies for maximum
efficiency, and cost effectiveness.
Stanley F. Wilson, AER Energy Resources, Inc. President and CEO,
stated, "AER Petroleum, Inc. under the watchful eye of its
President Al Karmali, plans to complete the Kansas reworks this
summer and will begin secondary recovery operations in July." Mr.
Wilson added, "Funding for the participation and related drilling
expense has been committed and reworks are expected to produce up
to 20 BOPD and $60,000.00 in new monthly revenues upon
completion."
Al Karmali, AER Petroleum President, stated, "CNCB recently
reported that Oil Companies have already reaped fortunes off the
Mississippian Lime Play in Oklahoma and are now following the rock
formation northward into Kansas, where millions of acres of mineral
rights have been leased in the past two or three years. We are
right on top of the Oil play in KS and look forward to completing
the reworks so we can begin the off-set drilling of wells within
this formation."
AER Petroleum, Inc. continues its pursuit of drilling and when
possible partnering in reworking low risk oil and gas prospects, in
areas of proven production, primarily in the areas of KS and TX.
The company is continuing to acquire quality leases in established
O&G fields, characteristically surrounded by existing
production.
ABOUT AER ENERGY RESOURCES, INC. AER
Energy Resources, Inc. (www.aerenergyresources.com) is a
diversified holding company with an emphasis on oil and gas
exploration, drilling, well completion and fuel distribution.
Safe Harbor 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.
AER Energy Resources (CE) (USOTC:AERN)
Historical Stock Chart
From Jul 2024 to Aug 2024
AER Energy Resources (CE) (USOTC:AERN)
Historical Stock Chart
From Aug 2023 to Aug 2024