AERN Petroleum sells 25% more oil in February

Wednesday, March 7, 2012      
 
  • The lease acreage permits spacing that will allow up to an additional 20 wells.
  • Upon completion of all 4 new wells, AERN anticipates crude oil revenues from the TX leases to exceed $500,000 in annual revenues.

AER Energy Resources, Inc. (PINKSHEETS: AERN) announce that the Copeland, Allie Wade and South Wade leases have improved oil sales quantity by 25% in February over January production. The leases have 6 producing wells and the company has identified 4 more well sites to be drilled in Q2.

"At today's price of oil exceeding $105/bbl, AER Petroleum continues its exceptional position to take advantage of continued higher oil prices. AERN is utilizing industry technological improvements in all our current lease properties and will continue using the improved techniques on all our acquisitions," commented Al Karmali, President of AER Petroleum, Inc., a wholly owned subsidiary of AER Energy Resources, Inc. Mr. Karmali added that "AERN is also pleased to have completed payment in full as agreed for the acquisition of the Texas leases."


 

Join 80,000 oil and gas professionals who receive our weekly newsletter.

You may unsubscribe at any time with one click.

Article Tags

AER Energy Resources United States North America Finance Houston


This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More


Related News


Upcoming OilVoice Training Course

Petroleum Geology of West Africa (Two Day Course)
Please note that this course is spread over two days. The course reviews the key regional controls on petroleum systems and prospectivity across the West African continental margin, covering all onshore, shelfal and deepwater settings between South Africa and Morocco. This second run of the course h...
London - 10 Jun


Trainer
Duncan Macgregor

Cost
£1000

Discount Code
OilVoice-10 for 10% off any course.View Course

All OilVoice Training Courses
Popular Headlines View all
Latest Opinion View all
Join 80,000 other oil and gas professionals

Network with others, build your profile, and receive the latest oil and gas news in your inbox. It's free!

Create profile
OilVoice Training All upcoming

About

OilVoice, established in 2002, is your leading source of upstream news, jobs and industry information.


Newsletter

Each week we send our weekly industry round-up. Why not try it? You may unsubscribe at any time.

Contact OilVoice

Milton Keynes
United Kingdom
Phone: +44 207 993 5991
Contact Us


Stay Connected


2015 © OilVoice  .  Privacy Policy  .  Terms of Service  .  Oil Careers  .  Advertise with us