SCOTTSDALE, Ariz., May 3, 2012 /PRNewswire/ -- AER Energy Resources,
Inc. (PINKSHEETS: AERN) has entered into a 50/50 Partnership to
participate in reworking thirty (30) shallow oil wells on 80 acres
in Eastern Kansas. The Company
will rework each of the thirty (30) wells through proven secondary
recovery techniques. AER Energy has also secured an option to
rework up to an additional sixty (60) wells on an adjacent 145
acres.
Stanley F. Wilson, AER Energy
Resources, Inc. President and CEO, stated, "AER Petroleum, Inc.
plans to complete the 30 Kansas reworks by early 3Q and will begin
operations this summer following the 9 previously announced
reworks. The 30 reworks are anticipated to begin secondary recovery
operations in late August." Mr. Wilson added, "The additional 30
reworks are expected to produce a minimum of 30 BOPD and
$100,000.00 in new monthly revenues
(at current WTI market prices) upon completion."
Al Karmali, AER Petroleum
President, stated, "We are taking advantage of this new partner's
long-term relationships with O&G lease opportunities in several
Oil plays throughout KS and look forward to completing the 9
reworks this summer south of this acreage; so we can begin the
secondary recovery drilling of the 30 exceptionally shallow wells
within the Bartlesville formation."
AER Petroleum, Inc. continues its secondary recovery drilling
and when possible partnering in reworking low-risk oil and gas
prospects, in areas of proven production, primarily in the areas of
KS and TX. The company is continuing to acquire quality leases in
established O&G fields, characteristically surrounded by
existing production.
ABOUT AER ENERGY RESOURCES, INC.
AER Energy Resources, Inc. (www.aerenergyresources.com) is a
diversified holding company with an emphasis on oil and gas
exploration, drilling, well completion and fuel distribution.
Safe Harbor Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
The words or phrases "would be," "would allow," "intends to", "will
likely result," "are expected to," "will continue," "anticipate,"
"expect," "estimate," "project," "indicate," "could,"
"potentially," "should," "believe," "considers," or similar
expressions are intended to identify "forward-looking statements."
Actual results could differ materially from those projected in the
forward-looking statements as a result of a number of risks and
uncertainties. These include the company's historic lack of
profitability, end user customer acceptance and actual demand,
which may differ significantly from expectations, the need for the
company to manage its growth, the need to raise funds for
operations and other risks within the regulation of the industry.
Statements made herein are as of the date of this press release and
should not be relied upon as of any subsequent date. The Company's
past performance is not necessarily indicative of its future
performance. The Company does not undertake, and the Company
specifically disclaims any obligation, to update any
forward-looking statements to reflect occurrences, developments,
events or circumstances after the date of such statement.
For Company Contact:
AER Energy Resources, Inc
info@aerenergyresources.com
SOURCE AER Energy Resources, Inc.