NEWS - AAPH updates Rooneythis just keeps looking better and better - steady goes the race!
https://www.americanpetrohunterinc.com/news/news.aspx?nrnum=331
excerpt:
SCOTTSDALE, AZ -- American Petro-Hunter, Inc. (OTCBB: AAPH) ("AmericanPetro-Hunter" or the "Company") today wishes to provide a progressreport regarding the previously announced installation of a natural gaspipeline at the Rooney project #24-1 Double H Oil & Gas Well inKansas.
The well has undergone a regimen of natural gas flow testing thatresulted in a rate of 130 MMCF per day. This would be the anticipatedproduction rate following the imminent tie-in to the pipeline.
The pipeline construction is nearing completion and was subject to ashort delay in obtaining a permit to bore under the US 60 StateHighway. The Company has been advised that the requisite permit is dueshortly and it is anticipated that the gas will be tied into thepipeline in approximately 7 days.
The Company further wishes to report that the results of a gas analysisshows a BTU value of 1,527 and is of excellent quality containingvarious condensates of value. A contract has been executed with thelocal buyer and pipeline operator and all factors are now in place tocommence commercial gas production shortly. NGPL-Midcont pricesyesterday were quoted at $5.35 per MCF.
As previously reported, a review of the Rooney engineering and seismicdata has indicated that this newly discovered oil and gas reservoir hasa potential aerial extent exceeding the acreage of existing nearby oilfields in the area that have produced in excess of 2.5 million barrelsof oil. If the Company is successful in its initial 10 well drillprogram, and should the entire seismically indicated target proveproductive, Rooney could mature into a full field development projectoffering a recovery scenario in excess of 3 million barrels of oilbased on this comparative analogy.