SCOTTSDALE, AZ–(Marketwire – 05/19/10) – American Petro-Hunter, Inc. (AAPH) (“American Petro-Hunter” or the “Company”) is pleased to provide an update for the drilling program at the Rooney Project in Ford County, Kansas where the #2 Double-H well has passed 5,000 feet and is approaching the planned total depth (T.D.) of 5,500 feet.
The #2 Double-H is a direct offset to the project’s discovery well and targets the subsequently identified reservoir estimated to contain in excess of 3 million barrels of oil on a location that maximizes the targeted thickness of both Mississippian and Morrow sand.
The Company has been informed by the operator that T.D. should be reached within the next 24 hours, after which, all oil shows encountered will be drill stem tested. As we anticipate the #2 Double-H to cut similar pay to the discovery well, immediate completion of the well is expected. In the event of a call as a commercial producer, the Company plans a rapid tie-in to the existing infrastructure, including the present tank battery at the Rooney lease.
In related news, the Company wishes to report that the construction of surface production facilities is ongoing at the North Oklahoma Project on the No. 1 Well location. Tank Battery construction and installation of pumping equipment is proceeding as planned. The targeted date for the commencement of commercial oil production is estimated on or around June 1st. Additional updates are regularly provided by the operator and the Company will announce any substantive information as soon as it becomes available.
About the Rooney Project:
The Rooney Project is located in southwestern Ford County, Kansas 20 miles due south of Dodge City and totals 7,040 acres adjacent to the north edge of existing Morrow Sand oil and gas production. The initial discovery well, #24-1 Double-H commenced commercial production in January. The potential barrels of oil associated with the discovery well and underlying oil pool are currently estimated at 500,000 barrels and the Company feels the potential for the newly discovered reservoir is 3,000,000 barrels of oil. The Company and partners have developed a plan that includes drilling 10 target locations by the end of the fourth quarter of 2010 at a planned drilling schedule of approximately one new well per month, depending on rig availability. The operator of the project is S&W Oil & Gas, LLC of Wichita, Kansas. The purchaser of the oil production at Rooney is N.C.R.A. of McPherson, Kansas.
About American Petro-Hunter, Inc.
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, Kansas and at the Rooney Project in Ford County, Kansas with production anticipated shortly at the North Oklahoma Oil Project. With the achievable target of becoming a 1,000 BOE producer as our goal, American Petro-Hunter is actively on the “hunt” for domestic petroleum assets. Visit us at: http://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-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.
ON BEHALF OF THE BOARD
American Petro-Hunter, Inc.
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Robert McIntosh
President & C.E.O.
