American Eagle Energy Inc. Announces Hardy Area Well Work
Sep. 23, 2010 (PR Newswire) --
BILLINGS, Mont., Sept. 23 /PRNewswire/ -- American Eagle Energy Inc.(OTC Bulletin Board : AMZG; "AEE", or the "Company") announced that it,along with its 50% working interest partner, Eternal Energy Corp., hassuccessfully restored the Hardy 2D7-9-3D2-16-4-21 well, located insoutheastern Saskatchewan to production following the recent workover.The workover was designed to shut off water influx from outside theBakken producing zone and return the well to economic production. Thewell was put on pump last week and is currently producing approximately40 barrels of oil per day while continuing to clean up with increasingoil cuts.
The partners have also submitted a horizontal well licenseapplication for an offset location in the targeted drilling area andexpect to commence drilling a second Bakken horizontal well during thefourth quarter of 2010 or the first quarter of 2011.
"We are hopeful that the well will continue to clean up and approachthe previous production levels," stated Dick Findley, AEE's Presidentand CEO. "The successful completion of the well workover providessignificant support and encouragement for proceeding with furtherdevelopment of the Hardy area this year or early next year."