Wednesday, August 11, 2010

Payne County, OK: Woodford Shale Update

By Andrea:

August 11, 2010: American Petro-hunter Inc. (AAPH.OB) announced their plans to drill a horizontal oil well in the Woodford Shale on the North Oklahoma Project leases located in Payne County, Oklahoma.

The new well will be a 2,000 foot horizontal well and could recover 1,000-1,200 barrels of oil per day. The well will be drilled on an existing lease so there will be no additional farm-in costs incurred. The spud date is predicted to be sometime near the middle of September.

Currently all efforts at the Project to prove the presence of a large shale reserve have been positive. Preliminary operations and initial drill testing of the potential within a 48 foot thick shale pay zone calculated to produce commercial quantities of oil have been successful to date.

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