SOURCE: AER Energy Resources, Inc.

October 03, 2011 17:30 ET

AER Energy Begins Low Risk Kansas Drilling Program

SCOTTSDALE, AZ--(Marketwire - Oct 3, 2011) - AER Energy Resources, Inc. (PINKSHEETS: AERN) has successfully signed an agreement with Multiplex Resources to purchase 13 existing shallow oil wells in Neosho County, Kansas. The Company will immediately begin a rework of 8 of the 13 wells and drill an additional 10 new off-set wells, utilizing the latest drilling technology for maximum efficiency, and cost effectiveness.

Stan Wilson, AER Energy Resources, Inc. President, stated, "AER Energy, Inc. plans to complete the Kansas acquisition in October and immediately begin secondary recovery operations." Mr. Wilson added, "Funding for the purchase and drilling expense has been dedicated and new production upon completion is expected to produce a minimum of $750,000 in net new revenues."

AER Energy Resources, Inc. is pursuing a policy of drilling low risk oil and gas prospects, in areas of proven production, primarily in the areas of KS and TX. The company is acquiring high quality leases in proven fields, typically surrounded by existing production.

Multiplex Resources of Houston, TX has been contracted to conduct all drilling and on-going operations.

ABOUT AER ENERGY RESOURCES, INC.

AER Energy Resources, Inc. (www.aernenergy.com) is a diversified holding company with an emphasis on oil and gas exploration, drilling, well completion and fuel distribution.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to", "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.