SCOTTSDALE, AZ — (Marketwire) — 10/13/11 — AER Energy Resources, Inc. (PINKSHEETS: AERN) has successfully signed an agreement with Rehoboth Oil & Gas, LLC of Baytown, TX for the purchase of three oil and gas leases for producing wells in Young County, Texas and Archer County, Texas with closing to be no later than November 15, 2011.
Stanley F. Wilson, AER Energy Resources, Inc., President, stated, “AER Energy continues to implement its plan of acquiring existing leases with operating wells or wells for secondary recovery opportunities and these three Rehoboth leases along with the twenty-three Multiplex wells previously announced bring AER Energy substantially ahead of 2011 planned benchmarks with net revenues totaling in the millions.”
Past experience has demonstrated reworking existing Shallow wells are among the lowest risk well investments involving drilling and potentially one of the most profitable methods resulting in successful completion. The company supervises and contracts all drilling, completion and production phases in both oil and gas wells in Texas and Kansas to Multiplex Resources of Houston, TX.
AER Energy Resources, Inc. () 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.