American Petro-Hunter Finds Opportunity in Kansas
American Petro-Hunter Inc. (AAPH) may not be as large as Stone Energy Corporation (SGY) or Rosetta Resources Inc. (ROSE), but its strong prospects and growth potential in Kansas and California make it worth a second look for investors.
American Petro-Hunter Inc. [[AAPH.OB]], a development-stage oil and gas exploration company, could be on the verge of revenues and profitability with its drilling at the #1 Lee 18AB well on the Brinkman Project in Clark County, Kansas. The well is expected to reach its total depth of 5,400ft. on August 5th, marking an important milestone in its development.
Brinkman Project – July 30, 2009
According to President and CEO Robert McIntosh, “We are very pleased to be drilling our second well in Kansas and hope that the results will be as successful as the first …With excellent infrastructure close by, the prospect for rapid construction of site facilities should the well prove successful, could see future revenue materialize as early as the end of August.” (See: Press Release)
About the Brinkman Project
The Brinkman Project is located 20 miles south of Dodge City next to a historic oil production area. Over 49,000 barrels has been produced from a seismic anomaly to the northeast of the company’s drilling location, while another nearby project in the area has produced cumulative gas production in excess of one billion cubic feet. This could spell big opportunity.
Engineers have estimated that a successful, commercially viable well could deliver between 40 and 100 barrels per day with associated natural gas. Meanwhile, full development of the field could produce between 300 and 400 barrels per day of light oil, with excellent transportation and support infrastructure already in place within the area, according to a recent company press release.
Past Success and Future Possibilities
American Petro-Hunter’s first oil well in Kansas, the Lutters #1 well, has been in production since the middle of June pumping oil at an initial production rate of 108 barrels per day at the well head with no water. Meanwhile, the first revenue checks from production are expected this month as payments are typically held 30 days by the purchaser.
A third property, the Rooney Project, was also initiated in Kansas in late June, when American Petro-hunter executed an agreement to acquire a 50% working interest in the project. Located in Ford County, the project is directly adjacent to the north edge of existing Morrow Sand oil and gas production, which has produced 344,448 barrels of oil and 933,622 million cubic feet of gas.
These three Kansas projects, combined with two more in California in development, represent great opportunities for American Petro-Hunter. Interested investors can learn more by reading some special reports at TopEnergyPicks.com and at BridgeIR.
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