American Resource Technologies reports that in the fiscal year ending September 30, 2007 the Company's oil revenue increased more than sixty-five per cent (65%). This increase is due to bringing several new wells on line during the Company's fiscal fourth quarter. This information will be reflected in the Company's 10-KSB which will be filed early in January.
The Company's operator has also advised the Company the Lindley 4-07 well located in Montgomery County, Kansas is being completed as a producer and production casing will be set today. Additionally, the Lindley 1-07 is ready for production when the electric utility makes power available to the lease.
Since the Company began drilling operations more than a year ago, we have drilled 11 wells, all of which have been completed as producers, and reworked 6 wells, all successfully completed and placed in production.
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