American Energy Development Reports Fiscal Third Quarter 2012 Results

American Energy Development Corp. (AED) (OTCBB:AEDC), an emerging energy company involved in the acquisition, exploration, development and production of established oil and gas basins, reported financial results and filed its Form 10-Q for its third fiscal quarter ended March 31, 2012.

Third Quarter Fiscal 2012 Highlights

• First 1,000 barrels of oil produced from the Brown 2-12 well in the Dansville Prospect.
• Brown 2-12 well in full production, with zero 'water cut' to-date.
• Received approximately $1.17 million from $7.8 million financing facility.
• Entered agreement to acquire interest in 4,200 acre White-tail Prospect which expands presence to Northern Lower Michigan.
• Closed acquisition of 24,700 acre Windsor Prospect in the Weald Basin, United Kingdom.
• Significantly increased assets and reduced liabilities at quarter-end.

Management Commentary

"We believe we have made tremendous progress during the quarter, especially with our first oil revenues beginning to prove the potential of our asset base," stated Herold Ribsskog, CEO of AED. "We have been actively engaged in a steady transition from a pure exploration entity to a production company. Acquisitions during and subsequent to the third quarter have substantially increased our asset base, providing numerous additional potential drill sites. In the next six months, we intend to participate in additional drill sites in Michigan to supplement our producing Brown 2-12 well. Our goal is to exit 2012 with numerous producing wells." 

"Outside of Michigan, we recently outlined plans to develop the newly acquired 24,700 acre Windsor Prospect in the United Kingdom. Our approach to identifying drill sites is essentially the same as in the US, utilizing currently available seismic data, and we expect this to be completed in the second half of the calendar year."

"As we advance through the year, we will continue to pursue a lower risk strategy of acquisition and development that we believe will pay off with higher probability well development and a high success ratio, and thereby creating value for our shareholders."

About American Energy Development Corp.

American Energy Development Corp. is an independent US energy company, committed to creating American energy independence through the development of acreage in established oil and gas basins. Using the latest geological, geophysical, and environmental technology, the Company's goal is to locate, drill, and produce oil and gas in the United States and secure regions. American Energy Development's focus is on the development of Niagaran oil reefs in Michigan and the underexplored onshore basins in the United Kingdom.

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth and business strategy. Words such as "expects," "will," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks associated with drilling and production programs resulting from geological, technical, drilling, seismic and other unforeseen problems; unexpected results of exploration and development drilling and related activities; continued availability of capital and financing; increases in operating costs; risks associated with oil and gas operations in general; availability of skilled personnel; unpredictable weather conditions; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. 

Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only reserves that comply with the definitions presented at Rule 4-10(a) of Regulation S-X. We use certain terms in this press release that the SEC's guidelines strictly prohibit us from including in filings with the SEC. Examples of such disclosures would be statements regarding "probable," "possible," or "recoverable" "reserves" and "resources" among others. U.S. Investors are urged to consider closely the disclosure in our Annual Report on Form 10-K and Form S-1, File No. 333-169014, available from us at American Energy Development Corp., 1230 Avenue of the Americas, 7th Floor, New York, NY 10020.

Company Contact:

American Energy Development Corp.

Joel Felix, Chief Financial Officer

Tel [phone]

[e-mail]

Investor Contact:

Justin Vaicek

Liolios Group, Inc.

Tel (855) OIL-AEDC (645-2332)

[e-mail]