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Date:
Tuesday, June 01, 2010
Trading Symbol: OTCBB:AAPH
American Petro-Hunter No. 1 Well at North Oklahoma Oil Project Commences Production -- Next Well to Spud June 5th
SCOTTSDALE, AZ -- American Petro-Hunter, Inc. (OTCBB: AAPH) ("American Petro-Hunter" or the "Company") today is pleased to announce that the No. 1 well at the Company's North Oklahoma Project has been successfully fracture stimulated and the 38-foot pay zone has been put into production with initial production rates anticipated in excess of 350 barrels per day of high gravity light oil.
As a result of the success at the No. 1 well, the Company is pleased to report that drilling preparations are underway for a spud date of June 5th at the nearby No.2 well location. Following drilling, plans include immediate completion and fracture stimulation of the well in order to place it on production in a timely manner. Site facilities are fully constructed and in readiness for commercial shipments.
Additionally, Management further reports that based on a review of available project engineering data combined with favorable early results, the Company has increased its acreage position at the North Oklahoma Project which is located in a historic oil & gas regional district of the State. The augmented leasehold increases the Company's commitment and participation in the play which originally offered the possibility for a multi-well program of up to 8 additional wells on 40 acre spacing. With the increased acreage, an additional 7 well locations have been prioritized creating a full field development scenario of 15 potential wells where the Company anticipates producing high gravity light oil above 3,800 feet.
In other news from the field, the Double H #2 well in Kansas reached a depth of 5,460 feet and encountered oil shows in several formations down-hole including the targeted Morrow sand and Mississippian. The engineering team is now assessing the results and will report to the Company their findings and recommendations for the next step in the development program.
About American Petro-Hunter, Inc. (OTCBB: AAPH)
The Company is a goal-oriented exploration and production (E&P) Company aiming to become an intermediate level oil and gas producer within 12 months. The Company is in production at the Poston Project in Trego County and at the Rooney Project in Ford County, Kansas, with new drilling and production activity underway at the North Oklahoma Oil Project. With the achievable target of becoming a 1000 BOE producer as our goal, American Petro-Hunter is actively on the "hunt" for domestic petroleum assets. 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, the development, costs and results of our exploration program at our properties and any anticipated future production. 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-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD
American Petro-Hunter, Inc.
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Robert McIntosh
President & C.E.O.