SOURCE: AER Energy Resources, Inc.

November 02, 2011 17:04 ET

AER Energy to JV 100 Well Kansas Drilling Program

SCOTTSDALE, AZ--(Marketwire - Nov 2, 2011) - AER Energy Resources, Inc. (PINKSHEETS: AERN) has entered into an agreement to JV up to 100 shallow oil wells in Kansas. The Company will rework these wells and drill additional new off-set wells, utilizing the latest drilling technology for maximum efficiency, and cost effectiveness.

Stanley F. Wilson, AER Energy Resources, Inc. President, stated, "AER Energy, Inc. plans to complete the Kansas JV in December and begin secondary recovery operations in Q1 next year." Mr. Wilson added, "Funding for the purchase and drilling expense has been dedicated and rework is expected to produce up to 100 BOPD and $3,000,000 in new annual 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.

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.