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American Energy Resources Discovers Mid-Continent Oil in Gove County, Kansas

Posted on: Wednesday, 17 June 2009, 07:00 CDT

Two Big Oil Finds Within a Month

COLORADO SPRINGS, Colo., June 17 /PRNewswire/ -- American Energy Resources, an established industry player in the mid-continent region for oil and gas exploration and drilling, today announced the discovery of significant oil. The oil well, christened Bonita Springs 4A is located eight miles southeast of Oakley in Gove County, Kansas. This is the second oil well to successfully produce resources for American Energy Resources within the last month.

"This is an exciting discovery for us in this economy as it demonstrates the viability of the mid-continent oil region," said Donald H. Allen, president and founder of American Energy Resources. "We have discovered oil in two out of the three wells drilled in the past month in Kansas. Our 3-D seismic mapping technology and process is proving effective and successful."

Bonita Springs 4A was drilled at a depth of 4,700 feet and penetrated 19 different limestone formations in which four were prolific with oil. Initial projections estimate that the well will produce approximately 150 barrels of oil per day. American Energy Resources incorporates the latest in 3-D seismic mapping technology to locate areas with a high potential for oil.

Earlier in the month, American Energy Resources struck oil 12 miles east of Scott City, Kansas, 35 miles from Bonita Springs 4A. H&M Petroleum, the operational division of American Energy Resources also headed by Allen, carries out all drilling activities onsite at the various wells.

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 four states. For more information, please visit www.amerenergy.com.

Contact: Stephanie Vanderholm 1-720-529-4850 1-928-607-0992 stephanie@volumepr.com

SOURCE American Energy Resources

Source: PR Newswire

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