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American Energy Resources Strikes Sizable Oil Reserve in Kansas

Posted on: Wednesday, 3 June 2009, 07:00 CDT

'Doyle's Dome #7' Expected to Initially Produce More Than 200 Barrels a Day

COLORADO SPRINGS, Colo., June 3 /PRNewswire/ -- American Energy Resources, an established industry player in the mid-continent region for oil and gas exploration and drilling, announced today it has discovered a secondary significant oil reserve in Lane County, Kansas. The oil well, known as Doyle's Dome #7, is an offset well to the Doyle's Dome #1 well, which was drilled in August 2008. Doyle's Dome #1 had an initial production rate of 282 barrels per day, while Doyle's Dome #7 is also expected to exceed 200 barrels a day.

"This is the second largest well American Energy Resources has ever drilled," said Don Allen, president and founder of American Energy Resources. "Our use of 3-D seismic mapping technology allows the company to hit 'sweet spots' with multiple pay zones. We have high expectations for this well, and estimate it will produce oil for the next 25 years, if not longer."

3-D seismic technology is an innovation that has been used in Kansas for the past decade. The purpose of this mapping is to pinpoint oil reservoirs in high structural features or domes. The process can be expensive but the payoff is well worth it due to the thoroughness of the data collected. This technology drastically increases the number of successful wells that can be found.

About American Energy Resources

American Energy Resources is an independently owned and operated oil and gas company that delivers its investors a mitigated risk environment by drilling in known productive areas. The company motto is "American Oil from American Soil". By combining 3-D seismic mapping technology with over 50 years of geological experience in the area we can pinpoint oil and gas reservoirs with more accuracy. Headquartered in Colorado Springs, American Energy Resources' oil and gas exploration ventures cover more than 47,000 leased acres in the Denver Julesberg Basin, and more than 30,000 leased acres in Kansas. With a unique investor centric business model, American Energy Resources maximized the success of profitable drilling in the mid-continent region. H&M Petroleum Corp. is a subsidiary of American Energy Resources and conducts all oilfield operations in 4 states. For more information, please visit www.amerenergy.com.

Media Contact: Stephanie Vanderholm VolumePR Stephanie@volumepr.com 720.529.4850

SOURCE American Energy Resources

Source: PR Newswire

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