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SmallCapNewsRelease:(OTC: AERN) Acquires Active Wells In Oklahoma

Thu, 16 Feb 2012 13:38:17 EST

JERICHO, NY, February 16, 2012, AER Energy Resources, Inc. (PINKSHEETS: AERN) announced yesterday that they have acquired three Oklahoma oil & gas leases from Texas Energy, Inc. The three leases, which have a minimum of 24 identified wells which will combine with the Company's existing portfolio to produce a combined 700 barrels of oil per day (BOPD).
 
AER will begin secondary recovery on three existing wells and then will focus on the most promising new wells on a schedule of two wells per month. Allowing for weather setbacks, the company expects completion of drilling over the course of 12 to 18 months.
 
By using $80 per barrel as a risk adjusted price, this acquisition is estimated to yield, upon drilling program completion, up to $20,000,000 in new annual revenues to the Company.
 
To view the entire press release, please visit http://finance.yahoo.com/news/AER-Energy-Resources-Acquires-iw-1670198426.html?x=0
 
SmallCapNewsRelease gainers are Jingwei International (NASDAQ: JNGW) Advance America (NYSE: AEA) CRA International,Inc. (NASDAQ: CRAI) Itron, Inc. (NASDAQ: ITRI) Cybex International, Inc. (NASDAQ: CYBI) Premier West Bancorp (NASDAQ: PRWT) Crescent Financial (NASDAQ: CRFN) BioDelivery Sciences (NASDAQ: BDI)
 
SmallCapNewsRelease decliners are HyperDynamics Corp (NYSE: HDY) Build-A-Bear Workshop, Inc. (NYSE: BBW) Ancestry.com, Inc. (NASDAQ: ACOM) Digital Generation, Inc. (NASDAQ: DGIT) PMFG, Inc (NASDAQ: PMFG) Avis Budget Group, Inc. (NYSE: CAR) Spire Corporation (NASDAQ: SPIR) Altra Holdings, Inc. (NASDAQ: AIMC)
 
Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. A third party has hired and paid SmallCapNewsRelease one thousand two hundred and ninety five dollars for the publication and circulation of this news release. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. We have no ownership of equity, no representation do no trading of any kind and send no Faxes or emails


Source: WebWire



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