United American Petroleum Provides Results From Independent Geological Study on Its Bastrop County, Texas Property
May 03 2011 - 9:00AM
United American Petroleum Corp. (OTCBB:UAPC) is
pleased to provide the results from its independent geophysical
study performed on its Bastrop County, Texas property. The study
was performed by Southport Exploration, Inc. (SEI) and its
subsidiary Digital Magnetotelluric Technologies (DMT) and was
supervised by one of our associated geological firms, JMR
Resources. The survey was taken on the Company's Gabriel and Rosser
acreage. The purpose of the survey was to verify proposed new well
locations, delineate hydrocarbon potential, and to do an initial
recon on the mound expansion between the current Gabriel wells and
Rosser wells. Data was acquired directly offsetting the Gabriel #4
well and was across both the Gabriel and Rosser leases and analyzed
to determine the likely presence of oil and gas. The Gabriel #4
originally had initial production of 427 barrels oil per day when
it produced previously in 1992.
We believe the results from the MT stations have an excellent
correlation to the well logs and identified strong probable oil in
the Serpentine, Austin Chalk, and Buda. The results show a thick
serpentine "channel" expanding from the Gabriel #3 to the Gabriel
#4 wells and thickening to the north. A thick porous oil-bearing
zone shows at the top of the channel which correlates with the high
soil geochemistry study taken on the Gabriel lease in 2009.
From the findings, JMR Resources strongly recommends drilling an
offset well to the Gabriel #4 well. We believe the subsurface, soil
geochemistry and MT survey all point to a strong oil zone in the
serpentine formation. To further refine and delineate the boundary
of the target location, a MT station to the north will be analyzed.
Additionally, MT stations need to be analyzed to determine the
eastern expansion offsetting the Gabriel #4 well. These two
stations were also in high geochemical areas. Overall results of
the geological study show a potentially significant oil zone
offsetting the Gabriel #4 well to the north.
Michael Carey, CEO of United American Petroleum Corp., stated,
"In an effort to bring projects that will benefit our shareholders,
we feel it is of the upmost importance to utilize the best possible
tools and technology available to help mitigate risk and increase
the potential of success. Evaluating the results of the analysis to
date not only gives us a better understanding of the lease and the
zones, but also provides us with an overall picture for expansion
and future development. From what we have seen, these test results
are very encouraging and we are anxious to get underway with the
drilling of the first new location."
For additional information regarding the Company's operations,
projects, management team and other valuable information, please
visit the Company's web site at www.unitedamericanpetroleum.com. To
be placed on the Company's master email list and receive future
press releases, progress reports and developments, please send an
email to unitedamericanpetroleum@grosscapital.com or contact Gross
Capital, Inc. at (361) 949 – 4999.
About United American Petroleum Corp.
United American Petroleum Corp. is an independent exploration,
development, acquisition, production, and operating company engaged
in advanced exploration, drilling and completion techniques to
explore for, produce and develop domestic oil and natural gas
reserves. The Company's strategy centers on increasing
shareholder value through actively pursuing and developing
high-potential acquisitions for drilling and production while
maintaining a prudently managed balance sheet. The
Company's current projects are in Texas, however, additional
acquisitions may encompass active plays
throughout the United States.
The United American Petroleum logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8834
Forward-looking Statements:
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 in 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 proved
reserves that a company has demonstrated by actual production or
conclusive formation tests to be economically and legally
producible under existing economic and operating conditions. We use
certain terms in this press release, such as "probable,"
"possible," "recoverable" or "potential" reserves among others,
that the SEC's guidelines strictly prohibit us from including in
filings with the SEC. Investors are urged to consider closely the
disclosure in our filings with the SEC.
CONTACT: Investor Contact
Gross Capital, Inc.
Barry Gross
361-949-4999
unitedamericanpetroleum@grosscapital.com
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