SCOTTSDALE, AZ -- (Marketwire) -- 08/05/10 -- American Petro-Hunter, Inc. (OTCBB: AAPH) ('American Petro-Hunter' or the 'Company'), today wishes to announce that July oil production from the #1 and #3 Lutters wells at the Postons Project located in Trego County, Kansas totaled 1,280 barrels.
A total of 8 shipments were transported to the purchaser N.C.R.A. in McPherson, Kansas. July now represents the highest monthly total to date from the field. During the month, the #1 Lutters well was in production for 20 days and the #3 for 13 as it was shut in during a tank hook up period following the completion of the well. With the wells now daily pumping over 60 barrels combined, plans are underway to increase the strokes per minute of the pump jacks, which along with a full month's production is anticipated to nearly double the production from both wells for the month of August.
Management and engineers believe that oil production rates from the Postons project will reach the 100 BPD range once the #3 Lutters well reaches stable production. The Lutters #1 and #3 wells are drilled in a Mississippi Dolomite formation identified by a 3D seismic high which pinpoints the oil bearing horizon. The 750 acre location offers two additional offset well location drilling opportunities given the success of the #3 well.
Company President Robert McIntosh notes, 'With the price of oil today back over $80 a barrel, the increase in output from the second producer at the field is very timely. We have begun plans to develop the location for the next well at this project and continue to evaluate the #3 well in order to obtain the maximum output of oil on a daily basis.'
About American Petro-Hunter, Inc. (OTCBB: AAPH)
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 and at the Rooney Project in Ford County, Kansas with new drilling activity and production underway at the North Oklahoma Oil Project. 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. Visit us at: 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-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB 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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President & C.E.O.
To find out more about American Petro-Hunter, Inc. (OTCBB: AAPH), visit our website at www.americanpetrohunter.com
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