«
Back to News Releases
Date:
Thursday, July 01, 2010
Trading Symbol: OTCBB:AAPH
American Petro-Hunter #3 Lutters Oil Well to Commence Production
SCOTTSDALE, AZ -- American Petro-Hunter, Inc. (OTCBB: AAPH) ("American Petro-Hunter" or the "Company") is pleased to announce that the #3 Lutters Oil Well was successfully drilled to depth and is to be completed as a commercial oil well.
The #3 Lutters is at the Poston Project in Trego County, Kansas where the 4,328 foot well intersected the reservoir pay zone as anticipated. The new producer is a direct off-set to the #1 Lutters well that has been in production since June 2009. The Company is pleased by the success at the Poston Project as the #3 Lutters will significantly increase the total oil production from the project.
The well has been cased to depth and the completion program will begin early next week. Production is anticipated in the 80 to 100 BPD range and as existing tanks and infrastructure are already in place, the operator will begin production immediately after the well is tied in.
The Lutters #1 and #3 wells are drilled in a Mississippi Dolomite formation identified by a 3D seismic high which pinpoints the oil bearing horizon. The 750 acre location presents future off set possibilities given the success of the #3 well.
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 activity and production 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.
- - - - - - - - - - - - - - - - - -
Robert McIntosh
President & C.E.O.