American Petro-Hunter announced that the No. 1 well at the Company's North Oklahoma Project has been successfully fracture stimulated and the 38-foot pay zone has been put into production with initial production rates anticipated in excess of 350 barrels per day of high gravity light oil.
As a result of the success at the No. 1 well, the Company is pleased to report that drilling preparations are underway for a spud date of June 5th at the nearby No.2 well location. Following drilling, plans include immediate completion and fracture stimulation of the well in order to place it on production in a timely manner. Site facilities are fully constructed and in readiness for commercial shipments.
Additionally, Management further reports that based on a review of available project engineering data combined with favorable early results, the Company has increased its acreage position at the North Oklahoma Project which is located in a historic oil & gas regional district of the State. The augmented leasehold increases the Company's commitment and participation in the play which originally offered the possibility for a multi-well program of up to 8 additional wells on 40 acre spacing. With the increased acreage, an additional 7 well locations have been prioritized creating a full field development scenario of 15 potential wells where the Company anticipates producing high gravity light oil above 3,800 feet.
In other news from the field, the Double H #2 well in Kansas reached a depth of 5,460 feet and encountered oil shows in several formations down-hole including the targeted Morrow sand and Mississippian. The engineering team is now assessing the results and will report to the Company their findings and recommendations for the next step in the development program.
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