We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
AER Energy Resources Inc (CE) | USOTC:AERN | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.000001 | 0.00 | 01:00:00 |
Stan Wilson, AER President and General Counsel, stated, "Having previously worked with Riverton Energy on capital formation for the development of two Eagle Ford Shale mineral leases, the Mathews and the Murphy Leases in Zavala County, Texas, I am pleased that AER Energy Resources, Inc. has been afforded this opportunity to joint venture with Riverton Energy on the "Bayou B Prospect" in the Atchafalaya Basin area with an expected lease acquisition to take place in early November and drilling to begin no later than February 2012."
"Funding for the purchase and drilling expenditure has been dedicated and new production upon completion is expected to recover a minimum of 320,000 barrels of oil and 3.2 billion cubic feet of natural gas from the Nodasaria Frio alone, resulting in a potential return of $38,000,000 based on risk-adjusted prices of $80 per barrel and $4 per 1000 cubic feet of natural gas. With another five development wells to be drilled, the AER JV expects to generate between $825 million to $1.875 billion in gross revenue based on Riverton's internal projections," Mr. Wilson added.
"Seismic data on the prospect demonstrates three stacked sands, and we intend to penetrate all three with the first well," says Riverton's Eric Johnson.
As a part of the proposed Joint Venture, Mr. Johnson and Riverton Energy will manage the project, and have a local operator ready to commence drilling operations.
ABOUT AER ENERGY RESOURCES, INC.
AER Energy Resources, Inc. (www.aernenergy.com) is a diversified holding company with an emphasis on oil and gas exploration, drilling, well completion and fuel distribution.
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.
1 Year AER Energy Resources (CE) Chart |
1 Month AER Energy Resources (CE) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions