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Message: NEWS - American Petro-Hunter Updates Developments at Rooney

NEWS - American Petro-Hunter Updates Developments at Rooney

posted on Feb 02, 2010 10:50AM

this just keeps looking better and better - steady goes the race!

http://www.americanpetrohunterinc.com/news/news.aspx?nrnum=331

excerpt:

SCOTTSDALE, AZ -- American Petro-Hunter, Inc. (OTCBB: AAPH) ("American Petro-Hunter" or the "Company") today wishes to provide a progress report regarding the previously announced installation of a natural gas pipeline at the Rooney project #24-1 Double H Oil & Gas Well in Kansas.

The well has undergone a regimen of natural gas flow testing that resulted in a rate of 130 MMCF per day. This would be the anticipated production rate following the imminent tie-in to the pipeline.

The pipeline construction is nearing completion and was subject to a short delay in obtaining a permit to bore under the US 60 State Highway. The Company has been advised that the requisite permit is due shortly and it is anticipated that the gas will be tied into the pipeline in approximately 7 days.

The Company further wishes to report that the results of a gas analysis shows a BTU value of 1,527 and is of excellent quality containing various condensates of value. A contract has been executed with the local buyer and pipeline operator and all factors are now in place to commence commercial gas production shortly. NGPL-Midcont prices yesterday were quoted at $5.35 per MCF.

As previously reported, a review of the Rooney engineering and seismic data has indicated that this newly discovered oil and gas reservoir has a potential aerial extent exceeding the acreage of existing nearby oil fields in the area that have produced in excess of 2.5 million barrels of oil. If the Company is successful in its initial 10 well drill program, and should the entire seismically indicated target prove productive, Rooney could mature into a full field development project offering a recovery scenario in excess of 3 million barrels of oil based on this comparative analogy.

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