Point Roberts, WA - December 15, 2010 (Investorideas.com Newswire) - www.InvestorIdeas.com, a leader in sector research including oil and gas stocks, releases a l trading alert and stock chart for showcase energy company American Petro-Hunter Inc (OTCBB: AAPH).
Oil and Gas Stocks; American Petro-Hunter (OTCBB: AAPH) Finalizing Completion of NOJ26 Oil Well in Readiness for Immediate Commercial Production
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Woodford Shale a "world class oil and gas target "- Robert McIntosh, President & C.E.O.of American Petro-Hunter, Inc. (OTC.BB: AAPH)
Point Roberts WA- December 9, 2010 .www.Investorideas.com, an investor research portal that specializes in sector research including energy stocks, reports on the Woodford Shale play as interest in energy stocks heats up.
The Woodford Shale formation has attracted some of the largest independent oil and gas companies including Devon Energy, XTO Energy, Petrohawk Energy, Southwestern Energy, Marathon Oil, Newfield Exploration and Continental Resources. Chesapeake Energy sold its Woodford position to BP in 2008.
Robert McIntosh, President & C.E.O.of American Petro-Hunter, Inc. (OTC.BB: AAPH) reports, "We are in the Woodford Shale Play, as it is becoming a major oil and gas producing reservoir across the Anadarko Basin, the Cherokee Platform and the Arkoma basin which trend east west across the State. Between 2003 and 2010, over 1,000 vertical and 300 horizontal wells have been drilled in the Woodford. Of these, 1,200 wells have produced 1.4 million barrels of oil and 560 billion cubic feet (Bcf) gas since 2004. The Woodford Shale has first generated the oil that filled many of the old, conventional reservoirs and now it's being exploited as a reservoir in its own right. It is truly becoming a "world class oil and gas target". All the majors are there. Devon is especially active and has just updated its 2010 Cana Project drilling plans where it now expects to drill 100 wells, up from the previously announced 80.
Oklahoma is one of the nation's premier oil-producing states and the Woodford is a unique reservoir that offers tremendous potential for both oil and gas. The key is identifying the oil bearing parts and engineering the horizontal wells to drill along the shale which will, after fracking the oil shale, produce oil in very profitable economic rates. These wells are not inexpensive as we estimate $1.75 to $2.2 million to drill and complete a 1,500 foot lateral. But the reward is huge-as a well may potentially deliver 500 to 1,000 barrels per day which would pay back the capital investment in rapid fashion and allow excellent cash flow for the growth of the Company's future. We feel we have a tremendous lease package that holds many locations for both horizontal and vertical wells and have implemented and planned an active 2011 drilling program."
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