Drilling Begins at American Eagle Energy's Hardy Bakken Field

American Eagle Energy Corporation and its partner, Passport Energy Ltd., announced the drilling and casing of the second horizontal development well in the Hardy Bakken Field. The Hardy Hz 3D14-17-3A3-17-4-21 (Hardy 14-17) was drilled to a total measured depth of 11,015 feet (3,358 meters) with a lateral section of approximately 4,200 feet (1,280 meters). A 26-stage fracture stimulation planned for the completion is scheduled for late February pending availability of the service crew.

American Eagle has received license approval for another well, the Hardy Hz 3D14-5-3A3-5-4-21 (Hardy 14-5), located approximately two miles south of the newly drilled well. Two additional well license applications are being prepared for submittal within the next 30 days.

The two existing wells in the Hardy Bakken Field continue to produce at stable rates with total gross production averaging approximately 160 bopd.

"We are pleased to have been able to capture the opportunity to accelerate our 2012 development plans by getting another of our planned wells drilled early in the year," stated Brad Colby, American Eagle's President. "Our team had the location permitted and built, which allowed us to take advantage of a rig window that was presented to us on short notice," Mr. Colby continued.