Archer Petroleum Corp.

Archer Petroleum Corp.

May 03, 2013 14:40 ET

Archer Petroleum Corp.-Announces Winning Bid for 918 Acre Bituminous/Asphaltic Sands Lease

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 3, 2013) - Archer Petroleum Corp (TSX VENTURE:ARK)(OTCQX:APEUF)(DBFrankfurt:A6VA) ("Archer" or the "Company") is pleased to announce that the Company has placed a winning bid with the School and Institutional Trust Lands of Utah for a bituminous/asphaltic sands lease comprising 918.95 acres in Sunnyside Tar Sands play in Carbon County, Utah. The Sunnyside Tar Sand deposit is believed to be one of the largest single deposits of bituminous/asphaltic oil sands in the United States and has been the subject of extensive exploratory analysis of the heavy oil/bitumen by various E&P companies in the past (Source: U.S. Department of the Interior Bureau of Mines, "Surface and Shallow Oil Impregnated Rocks and Shallow Oil Fields in the United States", 1965). Closing of the acquisition of this lease is subject to the formal execution of lease documents as provided by School and Institutional Trust Lands of Utah and is expected to happen in the coming weeks.

About Archer Petroleum:

Archer Petroleum Corp. is an independent energy company focused on exploration and development in North America. The Company's shares are listed on the TSX Venture Exchange under the symbol "ARK" and the DB Frankfurt exchange under "A6VA". Further information on Archer can be found on the company's website at


Colin Bowkett, Director


Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" occur. Forward-looking information in this press release includes, but is not limited to, statements regarding expectations of management regarding the acquisition of the Sunnyside Tar Sands bituminous/asphaltic sands lease, the size of this deposit relative to others in the United States, and the expected timing for execution of formal lease documents. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, the risks that the parties may not enter into a definitive agreement, that the TSX Venture Exchange may not approve the transaction and that the conditions to closing of the transaction may not be satisfied.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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