Archer Petroleum Corp.

Archer Petroleum Corp.

August 24, 2010 09:15 ET

Archer Petroleum Corp. Announces New Board Member

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 24, 2010) - Archer Petroleum Corp. (TSX VENTURE:ARK), (the "Company") is very pleased to announce the appointment of Mr. Joe Mike McKinney to the Board of Directors, effective immediately.

Mr. McKinney's 50+ years of experience in Oil & Gas encompasses virtually every major basin in North America at all levels of management, in the areas of exploration and production, asset evaluation, acquisition, strategic planning and investment banking.

Mr. McKinney's previous experience includes senior positions at Majors such as Exxon, Superior Oil, Union Texas, as well as serving as President and COO of the International Division of EOG Oil & Gas (NYSE:EOG -- $23B Mkt cap). His expertise is in the maximizing of return on exploration and development investment, with a key focus on strategic growth.

"On behalf of shareholders, I am pleased to welcome Joe Mike to the Archer Petroleum team. Joe Mike's expertise in Oil and Gas exploration and development will be of significant value in the growth of Archer, and we look forward to benefitting from his invaluable years of experience," said Colin Bowkett, President and Director of Archer.

Joe Mike McKinney states: "I'm extremely pleased to be a part of the Archer team and look forward to working together with management as we execute a long-lasting strategy to create shareholder value in the near and long term. I believe the opportunity that exists for Archer and its shareholders is significant, and I look forward to being a part of the team going forward."

About Archer Petroleum:

Archer Petroleum Corp. is an independent oil and gas company focused on the exploration and development of its assets in North America including the Permian Basin of West Texas and the Bakken Shale area of North Dakota. The Company's shares are listed on the TSX Venture Exchange under the symbol "ARK".

Archer holds a 25% net working interest in approximately 4,700 gross acres within the Greater Joe Mill Project in West Texas, with an option on an additional 5,700 gross acres in the area. Archer commenced drilling operations in February 2010 and has plans to drill an additional 2 wells in 2010. An evaluation of oil & gas reserves in the Greater Joe Mill Project has been completed to NI 51-101 standards.

Archer additionally holds a 50% working interest in approximately 1,500 acres in a Bakken Shale play located in North Dakota. Archer's partner in this project is a large private operator with a proven track record of success in the Bakken Shale and drilling operations are expected to commence in late 2010 or early 2011.


Colin Bowkett, PRESIDENT

Although Archer believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Archer can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), and commodity price, interest rate and exchange rate fluctuations. The forward-looking statements contained in this document are made as of the date hereof and Archer undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

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