American Petro-Hunter (OTCQB: AAPH) Sees Growth By The Drill Bit
American Petro-Hunter is achieving their stated goals, emerging as an intermediate oil producing company.
Wichita, Kansas (I-Newswire) September 23, 2013 - After 3 years of drill programs, financial wrangling, and share dilution, American Petro-Hunter Inc. (OTCBB: AAPH) has come out the other side as a full fledged and well financed oil producing company.
With wells in operation across 6 sights in Oklahoma and Kansas and continued drilling programs planned through 2015 to tap into an estimated 3,000,000 barrels of oil, American Petro-Hunter is here to stay.
American Petro-Hunter's CEO, Robert McIntosh, has recently closed a $5,000,000 financing agreement with Hannover Holdings I, DBA Magna Group to guarantee the success of continued drill programs. Regarding the agreement McIntosh says, "This closing provides the Company up to $5,000,000 in additional capital which will augment our existing financing arrangement when we require operational and drilling funds to be used in the Company's development of the Mississippi Lime and Woodford shale plays in Payne and Lincoln Counties, Oklahoma. We can now plan more effectively as to when and where we will be drilling our first horizontal well under the 2013 development plan.
With a 24 month restructured financing program with Magna Group in exchange of common stock, it is clear that analysts with Magna Group anticipate share prices to rise significantly over the next 2 years. Joshua Sason, the Chief Executive Officer of Magna Group, notes, "We are excited and enthusiastic about launching our relationship with American Petro-Hunter and are confident that our long-term commitment will help bolster operations and drilling activity. In the oil and gas space, it's of utmost importance to invest in solid management, and we believe strongly in Mr. McIntosh's ability to execute American Petro-Hunter's business plan."
After a long downtrend and briefly going sub penny in July, it seems AAPH has found it's bottom and has been trending upward. The current PPS is around $0.03. With only 60mm shares outstanding, considering the company is already generating more than $300,000.00 annually, and has enough financing to complete their additional drill programs through 2015, which, when completed, should earn them in excess of $2,000,000.00 annually, AAPH may be the best oil play in the OTC market, right now.
This does not constitute an offer or advice to buy or sell securities.
About American Petro Hunter
American Petro-Hunter Inc. is an oil and natural gases exploration and production company with proje More..cts in Kansas and Oklahoma. As of March 15, 2012, the Company has two producing wells in Kansas and six producing wells in Oklahoma. The Company also has rights for the exploration and production of oil and gas on an aggregate of approximately 6,230 acres in those states. On January 4, 2011, the Company announced plans to drill the NOS227 Well as a direct offset to the NOJ26 Well. On February 6, 2012, the Company announced that the Company had drilled a total of 1,988 feet in the horizontal well segment penetrating into the 100 plus foot thick Mississippi pay zone. The Company's crude oil production is sold to N.C.R.A. in MacPherson Kansas and Sunoco in Oklahoma. The Company sells natural gas through such pipeline to DCP Midstream, LP of Tulsa, Oklahoma.Less..
American Petro Hunter
250 N Rock Rd. Suite 365 Wichita, Kansas
Phone : 1-888-521-7762
Published On:September 23, 2013
Print Release:Print Release
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