HOUSTON, TX--(Marketwired - August 14, 2015) - America Resources Exploration (OTC PINK: AREN) announced today that it has signed an agreement this week with NGL Energy Partnership LP's Crude Logistics. NGL has entered into an agreement to buy all of America Resources Exploration's oil production from its Rogers & Burns property in Frio & Atascosa, Texas which the company estimates will total approximately 1,000 barrels per month when the first phase of the rework program is completed.
"We are pleased to be working with a big and well established company like NGL and look forward to delivering our crude to them. It is based off strong partnerships like this that America Resources Exploration will be able to continue to develop and increase revenues, while at the same time building a strong reputation in the industry," said Mr. Huang Yu, CEO.
About American Resources Exploration, Inc.
America Resources Exploration, Inc. is an oil and gas exploration and production company focused on the acquisition of properties in areas with significant oil reserves and drilling potential. The Company's growth strategy includes the acquisition of oil fields from distressed third parties at a substantial discount to value, and development of fields whose potential has not been fully maximized. For more information investors can visit www.america-resources.com
About NGL Energy Partners
NGL is a NYSE publicly traded company that provides multiple services to producers and end-users. Through its subsidiaries, Energy Partners engages in the crude oil logistics, water solutions, liquids, retail propane, and refined products and renewables businesses in the United States. The company was founded in 1940 and is headquartered in Tulsa, Oklahoma.
Forward-Looking Statements
This press release and the materials referenced herein include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give American Resources Exploration's current expectations or forecasts of future events. Such statements involve material risks and uncertainties, including but not limited to: whether newly drilled or newly acquired properties will produce at levels consistent with management's expectations; market conditions; whether we will experience equipment failures and, if they materialize, whether we will be able to fund repair work without materially impairing planned production levels or the availability of capital for further production increases; the ability of American Resources Exploration to fund the costs of new wells and to obtain financing from other sources for continued development; the costs of operations; delays, and any other difficulties related to producing oil; the ability of American Resources Exploration to integrate the newly producing assets; the ability to retain necessary skilled workers to operate the new producing wells; the price of oil; American Resources Exploration's ability to market and sell produced minerals; the risks and effects of legal and administrative proceedings and governmental regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements are set forth in our Form 10-K and the registrations statement for any offerings as filed with the SEC. American Resources Exploration undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. American Resources Exploration's production forecasts are dependent upon many assumptions, including estimates of production decline rates from existing wells and the outcome of future drilling activity. Although American Resources believes the expectations and forecasts reflected in these and other forward-looking statements are reasonable, it can give no assurance they will prove to have been correct. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties.