SOURCE: AER Energy Resources, Inc.

October 11, 2011 07:00 ET

AER Energy Resources Initiates Multi-Well Oil & Gas Project

SCOTTSDALE, AZ--(Marketwire - Oct 11, 2011) - AER Energy Resources, Inc. (PINKSHEETS: AERN) has successfully signed an additional agreement with Multiplex Resources, Inc. of Houston, TX to purchase an additional 23 existing wells in Wilson County, Kansas with the intent to rework 16 of the 23 existing oil wells and drill up to 25 new off-set oil wells.

Stanley F. Wilson, AER Energy Resources, Inc. President, stated, "AER Energy Resources, Inc. plans to complete the 2nd KS lease acquisition in late November and immediately begin secondary recovery operations." Mr. Wilson added, "Funding for the purchase and drilling expense has been dedicated, new production upon completion is expected to produce an additional multi-million dollar new annual revenue stream."

Experience has indicated reworking existing Shallow wells are amongst the lowest risk and potentially one of the most profitable methods of operation. The company supervises and contracts the drilling, completion and production phases in both oil and gas wells, in Texas and Kansas, to Multiplex Resources of Houston, TX.


AER is a diversified holding company with an emphasis in oil and gas through its subsidiary, FTPM Resources, Inc. AER also operates a real estate and alternative fuels enterprise through its subsidiary, Global Wealth Group, Inc.

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