American Petro-Hunter, Inc. (OTCBB: AAPH) announced today commercial oil and gas sales have begun. The NOM-3H horizontal oil and gas well has shipped an inaugural 1,000 barrels following the well’s first weeks of production. This is AAPH’s 3rd horizontal well in N. Oklahoma and is producing from the Mississippi Lime formation. AAPH expects the well to exceeded 200 barrels of oil per day and 400 MCF gas.
AAPH is ready to open this week at 0.35 after gaining 24.11% on Friday on volume of 608,690. Penny stock traders should expect to see increased volume today.
AAPH currently owns an interest in approximately 6,000 acres in the area which is known as one of the hottest horizontal oil plays in the continental United States. Approximately 20 horizontal wells have now been drilled in the immediate area of the Company’s leases and are producing from both the Woodford Shale and the Mississippi Limestone. Both of these formations are significant oil producers with very high BTU wet natural gas.
AAPH Stock Snap Shot:
Market Cap: 9.91M
52-Week High (May 23, 2011): 0.70
52-Week Low (Jan 13, 2012): 0.14
50-Day Moving Average: 0.23
200-Day Moving Average: 0.27
Avg Vol (3 month): 66,898
Avg Vol (10 day): 178,538
Shares Outstanding: 28.30M
Float: 26.55M
The NOM-3H was drilled with a total of 1,988 feet into the horizontal well segment penetrating the over 100 foot thick Mississippi pay zone. A large frack was conducted and the well was put on pump with the installation of a submersible unit capable of moving 1,500 barrels per day of fluid.
About American Petro-Hunter, Inc. (OTCBB: AAPH.OB)
AAPH is a goal-oriented exploration and production (E&P) Company aiming to become an intermediate level oil and gas producer within 12 months. AAPH is in production at the Poston Project in Trego County, Kansas and at its North Oklahoma Project area. 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.
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