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Schlumberger Report Determines 300 Bcf Per Section on American Exploration Corp. Lands in Mississippi

September 15, 2009

CALGARY, Alberta, Sept. 15 /PRNewswire-FirstCall/ — American Exploration Corp., a Nevada company (“the Company”), (OTC Bulletin Board: AEXP), has received a shale gas analysis completed by Schlumberger, evaluating the total gas in place within the Haynesville Formation (Shale) in the mineral leases held by the Company in Mississippi. From existing well data, the assessment confirms similar reservoir attributes to the Haynesville Shale of northwestern Louisiana and demonstrates estimated gas in place of at least 300Bcf/section. This places more than 2 Tcf of estimated gas on the property.

A single deep well was drilled into the prospect in 1981, at a time when neither the technology for developing nor the understanding of shale gas reservoirs existed. The well penetrated a greatly over-thickened Haynesville shale reservoir that was completely gas charged and tremendously overpressured. The Haynesville Shale on the American Exploration leases is more than eight (8) times the thickness of that found in northwestern Louisiana.

The gas in place assessment by Schlumberger was performed having first conducted mineralogical and geochemical analyses on rock cuttings samples from the 1981 well, which penetrated the Haynesville Formation. These results were then integrated with the petrophysical log data from which the gas volumes were determined.

The Haynesville Formation in NW Louisiana exploded onto the natural gas market over the past 18 months, following announcements from some of the industry’s most significant gas players. Chesapeake, EnCana and Petrohawk have released results indicating that the Louisiana shale contains upwards of 250 Tcf. Current wells show Initial Production ranging from 5 Mmcf to 23.5 Mmcf per day.

The Haynesville shale is now widely recognized as the 4th largest gas field in the world.

About American Exploration Corp.

American Exploration Corp. is engaged in the exploration and development of oil and gas prospects with the potential for discovery of new or unconventional hydrocarbon resources in the continental United States.

    Contact:
    Mr. Steve Harding
    Tel. 403-233-8484

    American Exploration Corp.
    Suite 110, 1915 - 27 Avenue NE,
    Calgary, Alberta T2E 7E4
    Canada

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EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS “ESTIMATE”, “ANTICIPATE”, “BELIEVE”, “PLAN” OR “EXPECT” OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH PROPERTY DEVELOPMENT AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT ANNUAL REPORT ON FORM 10-KSB AND ON FORM 10-QSB AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY’S DEVELOPMENT EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM TIME-TO-TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.

THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. EACH OF THE NASD, THE SEC AND THE OTCBB NEITHER APPROVES NOR DISAPPROVES OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.

SOURCE American Exploration Corp.


Source: newswire



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