SOURCE: AER Energy Resources, Inc.

February 01, 2012 09:00 ET

AERN Begins Reworking Wells on TX Leases

SCOTTSDALE, AZ--(Marketwire - Feb 1, 2012) - AER Energy Resources, Inc. (PINKSHEETS: AERN) is pleased to announce today that Wade Well Service, LLC (a private company) has begun reworking three wells at their Copeland and South Wade leases located in Archer and Young Counties, Texas.

The leases have 6 existing wells, of which 3 are producing and 3 were non-producing wells. These 3 wells are now in the process of being reworked. The operator has identified the additional well upgrades and replacement pipe for the reworks and has begun the necessary work.

"Today's steadily rising price of oil has allowed AERN to invest in wells that were previously shut in during times of low oil prices. These wells are now very profitable again. AERN has situated itself into an excellent position by purchasing leases with secondary recovery opportunities. We are rapidly pursuing additional suitable rework opportunities and are prepared to take advantage of these higher oil prices," commented Stanley F. Wilson, President of AER Petroleum, Inc. a wholly owned subsidiary of AER Energy Resources, Inc.

The 3 reworks are expected to be completed within the next 2 weeks and upon completion, all 6 wells located on the 3 TX leases will be producing. AER Petroleum, Inc. anticipates $250,000 in additional annual revenues from the Oil production.

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

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