|By Marketwired .||
|December 19, 2013 12:08 PM EST||
WICHITA, KS -- (Marketwired) -- 12/19/13 -- American Petro-Hunter, Inc. (OTCBB: AAPH) ("American Petro-Hunter" or the "Company") today is pleased to announce that the Company has received approval and drilling permit from the Kansas Corporation Commission for the drilling of the Conner 28H # 1 ("Conner 1"). This is the Company's first well planned in the development of its Kansas Mississippi-Osage project, a 15,000 acre Mississippi Lime land package located in Rice and Reno Counties, Kansas.
The approved drilling permit was received by the Company's wholly owned subsidiary and operator of the project, APH Operating Inc. The Conner 1 well location is in Rice County, near Lyons, Kansas and is planned to have a total vertical depth of 3,300 feet, with a lateral through the Mississippi-Osage of 3,500 feet. Drilling is expected to commence in Q1 2014.
The Mississippian "Osage" play was kicked off in 2012 by the drilling of the Unit Corp #1-21H Overall (section 21-25S-10W) which was drilled to a total depth of 8,115' and was completed in June 2012. Cumulative production for this well during the first five months has been reported as 30,226 barrels of oil and 20,375 thousand cubic feet (mcf) of natural gas, equating to daily rates of 201 barrels and 135 mcf. Since the completion of the test outlined above, there have been 30 horizontal locations filed for permits. Currently there are 12 producing horizontal wells, 11 undergoing drilling and completion, and an additional 20 wells permitted in the area.
American Petro-Hunter is targeting a potential of 200 barrels of oil per day at initial production rates from its development wells for planning purposes. If the acreage is fully developed on 640 acre spacing, the play has the potential to allow drilling of a minimum of 23 wells.
About American Petro-Hunter, Inc. (OTCBB: AAPH)
American Petro-Hunter is an exploration and production (E&P) company focused on the acquisition and horizontal development of the Mississippi Lime and Woodford oil formations located in Oklahoma and Kansas. The Company operates from its offices in Wichita, Kansas. Visit us at: www.americanpetrohunter.com
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, scope and type of consulting services provided by third parties use of proceeds, future acquisitions, success of projects, growth and strategic plans. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
To find out more about American Petro-Hunter, Inc. (OTCBB: AAPH), visit our website at www.americanpetrohunter.com