SOURCE: Advanced Environmental Petroleum Producers, Inc.

December 14, 2016 11:21 ET

Advanced Environmental Petroleum Producers Receives Technical Evaluation Agreement

LAS VEGAS, NV--(Marketwired - Dec 14, 2016) -  Advanced Environmental Petroleum Producers, Inc. (OTCQB: AEPP) is pleased to announce it has received the acceptance of their Technical Evaluation Agreement (TEA) for Block 19 Certificate of Qualification No. W GGRL-CC-19-2016 under the qualification of oil companies approved by Supreme Decree W 030-2004-EM and amended by Supreme Decree W 001-2012-EM by PeruPetroS.A. allowing the implementation of convention's Technical Evaluation of Block19.

Nigel Bosworth, AEPP's Chief Technology Officer, stated, "AEPP can now instruct Chapman Petroleum Engineers from Calgary Alberta Canada to proceed on site to complete the 51-101 Petroleum Reserve Report for Block 19."

AEPP is clear to proceed to manufacture and install the full Pilot Plant from their exclusive Technology supplier Pointsource Processing (PSP) for the extraction of gas and oil from Block 19.

Background

AEPP will become an oil and gas exploration and development company, operating in Peru where it has a number of targets in the highly prospective Block 19 of the southern region of that country. The Company will hold an exclusive license, which entitles it to explore and develop certain oil and gas properties known as "Block 19," an area of 10,100 square km.

Cautionary Note:
 
The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.

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