American Petro-Hunter Completes #24-1 Double H Well -- Prepares for January Oil and Gas Production at Rooney, Kansas
2009-12-15 09:00 ET - News Release
SCOTTSDALE, AZ-- (MARKET WIRE)-- 12/15/09
American Petro-Hunter, Inc. (OTCBB: AAPH)("American Petro-Hunter" or the "Company") is very pleased to announce thatthe completion program at the #24-1 Double H Oil Well on the Rooney Projectis now finished and the well is being readied for full scale oilproduction.
The well was perforated and swabbed at hourly rates of oil flow in keepingwith the Company's original estimates of over 200 barrels per day. Thedown-hole reservoir pressures have remained strong and steady producingexcellent quality 44 degree oil which will sell at top dollar to oilpurchasers in the area. Consequently, the Company believes that based onthe completion results and recent seismic data, the find represents asignificant discovery well in a new reservoir at Rooney.
Natural gas associated with the pay zone will necessitate the installationof a gas separator and hook-up to a gas pipeline located less than 1 mileaway. Currently, the gas flow is estimated at between 70 to 80 MCF per daywhich will generate additional income from the well.
Rods are being positioned in the well and site preparations begin tomorrowfor the construction of the tank battery, mounting of the pump-jack andinstallation of gas lines for hook up. The Company and operator plan toexpedite all arrangements towards the commencement of full scale commercialoil and gas production currently slated for January 1, 2010.
The completion results confirm the projected Initial Production Rates(I.P.R.) with a possibility of exceeding those estimates. Final productionrates will be based on the needs of the reservoir in order to maintainpressures and integrity. Daily production rates will be fully establishedonce production has commenced and actual barrels of oil produced to thetanks are calculated.
About the Rooney Project:
The Rooney Project is located in southwestern Ford County, Kansas 20 milesdue south of Dodge City and totals 5,120 acres adjacent to the north edgeof existing Morrow Sand oil and gas production. The initial discovery well,#24-1 Double H is anticipated to begin production at rates over 200 barrelsper day. After a review of the 3D seismic data in conjunction with theelectronic logs, the potential barrels of oil associated well and oil poolis currently estimated at 500,000 barrels. The Company and partners havedeveloped a minimum of 5 target locations to drill that could enable theCompany to add 5 additional wells to its portfolio by the end of the thirdquarter of 2010. The operator of the project is S&W Oil & Gas, LLC ofWichita, Kansas. Please visit www.americanpetrohunter.com to viewbackground information on the project as well as recent photos of drillingoperations in Kansas.
About American Petro-Hunter, Inc. (OTCBB: AAPH)
The Company is a goal-oriented exploration and production (E&P) Companyaiming to become an intermediate level oil and gas producer within 12months. The company is in production at the Poston Project in Trego County,Kansas and plans to have the Rooney project in production shortly. With theachievable target of becoming a 1000 BOE producer as our goal, AmericanPetro-Hunter is actively on the "hunt" for domestic petroleum assets. Visitus at:
www.americanpetrohunter.com.