American Petro-Hunter, Inc. (AAPH) Hits Mississippi Formation Pay Zone with Latest Well in North Oklahoma, Provides Update on Horizontal Drilling Progress
American Petro-Hunter, the domestic exploration and production company with substantial acreage/operations in Oklahoma, Kansas and California, reported today updated details on the Company’s drilling progress at the NOM1H Horizontal well in the 4,800-acre plus North Oklahoma Project in Payne County.
The North Oklahoma Project consists of the Ripley (Mississippi Limestone) prospect, and both Yale (one targeting Woodford Shale and one targeting Skinner Sandstone) prospects, representing an extremely strong presence in Oklahoma that balances the Company’s Poston and Colby Oil projects (1250 gross acres total) in Kansas against their Sacramento Gas Project. Indeed, AAPH has aggressively driven for their 1k BOE producer target set by management in the last year in particular, following the trend line in the markets for oil, gas and energy in general.
Today’s announcement that the planned 1,600 feet of lateral drilling on the NOM1H has commenced puts AAPH squarely in the Mississippi formation, and the goal is to complete drilling somewhere around the 5,300 foot-total mark (total vertical depth of 3,900 feet). Upon completion of the lateral stretch, the Company has slated an evaluation/testing period and looks to release additional information over the next week as the directional drilling engineer oversees the final leg in order to ensure that the NOM1H stays in the 100 foot thick Mississippi Formation.
President and CEO of AAPH, Robert McIntosh, stressed the critical nature of the upcoming testing phase, as the Company heads into an extremely busy summer full of drilling the planned series of additional horizontal wells targeting the Mississippi limestone. McIntosh noted for shareholders that the reaching of the kick off point today, the point where the well curves for horizontal drilling, signifies that AAPH is now effectively in the pay zone on the NOM1H.
Another data point today related to AAPH’s Oklahoma activity is the successful reception of a permit by a major independent oil company to begin drilling its first horizontal test well in Payne County on acreage analogous to the Company’s own holdings. This nearby well is engineered for a total length of 9,177 feet (true vertical depth of 4,300 feet) and is targeting the Woodford Shale, giving AAPH a great opportunity to cull benchmark data for the Company’s own planned development program targeting the Woodford in 2011.
The Company continues to hunt aggressively for domestic petroleum development targets and is actively engaged in acquiring interests in promising sites that have a high probability of affording robust shareholder returns. For updates and more information on the latest developments at American Petro-Hunter, Inc., please visit the Company’s website at: www.americanpetrohunter.com
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