SCOTTSDALE, AZ — (Marketwire) — 04/12/12 — AER Energy Resources, Inc. (PINKSHEETS: AERN) has entered into a 50/50 Partnership to participate in reworking nine shallow oil wells in Kansas. The Company will rework each of the nine wells through proven secondary recovery techniques and take part in drilling up to four additional new off-set wells, while continuing to utilize the latest proven drilling technologies for maximum efficiency, and cost effectiveness.
Stanley F. Wilson, AER Energy Resources, Inc. President and CEO, stated, “AER Petroleum, Inc. under the watchful eye of its President Al Karmali, plans to complete the Kansas reworks this summer and will begin secondary recovery operations in July.” Mr. Wilson added, “Funding for the participation and related drilling expense has been committed and reworks are expected to produce up to 20 BOPD and $60,000.00 in new monthly revenues upon completion.”
Al Karmali, AER Petroleum President, stated, “CNCB recently reported that Oil Companies have already reaped fortunes off the Mississippian Lime Play in Oklahoma and are now following the rock formation northward into Kansas, where millions of acres of mineral rights have been leased in the past two or three years. We are right on top of the Oil play in KS and look forward to completing the reworks so we can begin the off-set drilling of wells within this formation.”
AER Petroleum, Inc. continues its pursuit of drilling and when possible partnering in reworking low risk oil and gas prospects, in areas of proven production, primarily in the areas of KS and TX. The company is continuing to acquire quality leases in established O&G fields, characteristically surrounded by existing production.
AER Energy Resources, Inc. () is a diversified holding company with an emphasis on oil and gas exploration, drilling, well completion and fuel distribution.
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