SCOTTSDALE, AZ — (Marketwire) — 10/04/11 — AER Energy Resources, Inc. (PINKSHEETS: AERN) has signed an operator contract with Multiplex Resources, Inc. of Houston, Texas to initiate and complete a multi-well drilling program of targets across Texas and Kansas.
The drilling program is for the development of oil reserves, which are in a shallow horizon of a known reserve pool of hydrocarbons.
AER Energy expects to develop and bring to completion 100 wells in its 1st full year of operation; the minimum net revenue from the wells would be $2,400,000 per year. Multiplex management has owned, operated and managed over 1,000 wells in the 3 State region of TX, KS and LA.
AER Energy Resources, Inc. is pleased to now be under contact with Multiplex Resources Inc. after an extensive screening and selection process that reviewed some of the top operators in the industry. “It is the company–s belief that Multiplex–s efficiency and vast experience will bring the highest degree of margin, and expanded opportunities to the company by continuing to present and secure the sectors top oil and gas properties,” stated Stan Wilson, AER Energy Resources, Inc., President.
“Brandon Guiles, President of Multiplex, has been one of the industry–s top performers, and has been integral in the completion of this opportunity for AER Energy to springboard to the next level of oil and gas production,” added Mr. Wilson.
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.