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Wed, 7 Mar 2012 16:06:01 EST JERICHO, NY, March 7, 2012 AER Energy Resources, Inc. (PINKSHEETS: AERN) a diversified holding company with an emphasis on oil and gas exploration, drilling, well completion and fuel distribution, announced today that 3 of their leases have boosted production 25% from January to February.
The production boost occurred on their Copeland, Allie Wade and South Wade leases. Currently, the leases have 6 producing wells, with 4 more identified to be drilled in the second quarter of this year. Upon completing the 4 additional wells, AER Energy anticipates their annual revenue to exceed $500,000.
AER Energy has also completed payment on the acquisition of the Texas leases announced on February 15th. The acquisition contributed three Oklahoma leases with a minimum of 24 identified wells and an estimated future oil and gas production when completed and combined with existing AER Energy lease holdings that could exceed 700 BOPD.
To view the entire press release, please visit [url]http://finance.yahoo.com/news/aern-petroleum-sells-25-more-141500633.html[/url]
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JERICHO, NY, March 7, 2012 AER Energy Resources, Inc. (PINKSHEETS: AERN) a diversified holding company with an emphasis on oil and gas exploration, drilling, well completion and fuel distribution, announced today that 3 of their leases have boosted production 25% from January to February.