SOURCE: IO Circuit

July 19, 2011 07:00 ET

Market Update: American Petro-Hunter Inc. (OTCBB: AAPH) Announces Aggressive Horizontal Drilling Schedule

Note to Editor: The Following Is an Investment Opinion Issued by the IO Circuit.

NEW YORK, NY--(Marketwire - Jul 19, 2011) - American Petro-Hunter (OTCBB: AAPH) announced that due to the recent success of the company's NOM-1H horizontal well, the Company and working interest partners have formulated a complete development plan for this newly defined Mississippi oil and gas reservoir. American Petro-Hunter can accommodate drilling a minimum of 11 horizontal wells for the remainder of 2011 and into 2012 at the North Oklahoma Project.

A surge in US natural gas is the result of horizontal drilling combined with more hydraulic fracturing, the US Energy Department says. Horizontal wells have had a sharp increase over the past 2 years, as of January 2009 there were just over 500 horizontal wells being drilled nationally, in January 2011 there were over 1200. Horizontal Drilling is the chosen drilling method used by American Petro-Hunter to recover oil and gas from previously unobtainable plays within North Oklahoma.

At the rate that American Petro-Hunter plans to expand its drilling, they should become an intermediate oil and gas producer in less than the 12 months that they have forecasted.

Other active stocks are Cimarex Energy Co (NYSE: XEC) Royale Energy (NASDAQ: ROYL) and Apache Corp (NYSE: APA)

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