American Petro-Hunter, the domestic exploration and production company with majority holdings in Kansas and Northern Oklahoma, reported inaugural sales today of production from the Company’s NOM1H and NOS122 wells, located at the North Oklahoma Project.
This sale effectively adds another two producing wells to AAPH’s already strong portfolio and makes a total of four wells, including the No. 1 and NOJ226 wells, at the North Oklahoma Project which are actively producing. With the NOS227 slated to come online and start producing shortly, AAPH is eager to get a running production tally for the end of the month which can be reported to shareholders, showing the total amount of oil sold from the storage tanks at the North Oklahoma Project to majority purchaser for the project, Sunoco.
The initial sale is expected to ship out to Sunoco this July 1 and AAPH is confident that within the next 30 days they will have established a daily net production which is comfortably in the 130 BPD range. That production figure would represent production from the five wells in Oklahoma and the other two producing wells in Kansas, climbing even higher as significant additional barrels and BOE of natural gas are expected to be produced readily once production rates have stabilized and are established for the North Oklahoma wells.
American Petro-Hunter is projecting some $4.2M a year in cash flow based on these production figures and intends to roll the revenue generated back into advancing existing projects and meeting planned development costs. The Company intends to drop another horizontal well and is currently in the final stages of associated planning and scheduling, solidly intent on maximizing production from North Oklahoma acreage.
As indicated, the Company anticipates releasing more concrete production figures very shortly and interested parties can visit the Company’s website to learn more at: www.americanpetrohunter.com