American Exploration Corp. Enters Agreement to Acquire 5000 Acre Lease in Jefferson County, Mississippi
American Exploration Corp. Enters Agreement to Acquire 5000 Acre Lease in Jefferson County, Mississippi
CALGARY, Alberta, Aug. 20 /PRNewswire-FirstCall/ -- American Exploration Corp., a Nevada company ("the Company"), (OTC Bulletin Board: AEXP), has signed a Letter Agreement to acquire 5000 net acres in Jefferson County, Mississippi in order to drill and evaluate the potential Haynesville Shale gas formation in the region.
Under the terms of the Letter Agreement, American Exploration Corp. will acquire 100% Working Interest and 75% Net Revenue Interest on all gas formations within the 5000 net acres ("the leases"), which are located in southwestern Mississippi within the Mississippi Interior Salt Basin.
A number of USGS and US Department of Energy resource assessments have been commissioned over this area over the last decade. All report the deep gas potential of the area, pointing to the Upper Jurassic as a favorable exploration target. According to public records, no wells have drilled and tested the Haynesville Shale in the target region to date.
Company President Steve Harding states, "Having undertaken an extensive technical review of this prospect that is now complete, we are confident about the enormous upside potential of this acquisition. American Exploration plans to make it our leading exploration focus and a model for our operations going forward."
About American Exploration Corp.
American Exploration Corp. is engaged in the exploration and development of oil and gas prospects with the potential for discovery of new or unconventional hydrocarbon resources in the continental United States.
Buck
CALGARY, Alberta, Aug. 20 /PRNewswire-FirstCall/ -- American Exploration Corp., a Nevada company ("the Company"), (OTC Bulletin Board: AEXP), has signed a Letter Agreement to acquire 5000 net acres in Jefferson County, Mississippi in order to drill and evaluate the potential Haynesville Shale gas formation in the region.
Under the terms of the Letter Agreement, American Exploration Corp. will acquire 100% Working Interest and 75% Net Revenue Interest on all gas formations within the 5000 net acres ("the leases"), which are located in southwestern Mississippi within the Mississippi Interior Salt Basin.
A number of USGS and US Department of Energy resource assessments have been commissioned over this area over the last decade. All report the deep gas potential of the area, pointing to the Upper Jurassic as a favorable exploration target. According to public records, no wells have drilled and tested the Haynesville Shale in the target region to date.
Company President Steve Harding states, "Having undertaken an extensive technical review of this prospect that is now complete, we are confident about the enormous upside potential of this acquisition. American Exploration plans to make it our leading exploration focus and a model for our operations going forward."
About American Exploration Corp.
American Exploration Corp. is engaged in the exploration and development of oil and gas prospects with the potential for discovery of new or unconventional hydrocarbon resources in the continental United States.
Buck
Views: 49
Replies to This Discussion
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Permalink Reply by Checkmateking on -
According to public records, no wells have drilled and tested the Haynesville Shale in the target region to date.
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Permalink Reply by Skip Peel - Mineral Consultant on -
From the AEC website:
Emphasis added.
American Exploration Corp. is an independent oil and gas exploration company formed in 2008. The Company was founded by a highly experienced management group who understands the urgent need for American energy independence, and recognize the new range of opportunities to tap into previously unknown or inaccessible domestic energy resources arising out of dramatic changes in recovery technology.
Through valuable legacy relationships and technical insight into current trends, founding management has identified new areas with major discovery potential where the Company can participate without the exhaustive capital needs typically associated with tapping large oil and gas opportunities. These include emerging plays in unconventional resources, such as shale gas and other opportunities.
This unique combination of historical experience supported by strong industry ties and forward-thinking management gives American Exploration Corp. the capabilities of a traditional E&P firm with the fresh approach of a dynamic exploration company.
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Permalink Reply by Skip Peel - Mineral Consultant on
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Jay. I really think the "fresh approach" is that they forgo the "exhaustive capital" approach. I think they use S&H Green Stamps.
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Permalink Reply by Dion Warr, CPL on
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Group:
Yeah, because that whole 'established E&P / technical thing in a core area' is so last year with the HA / HS something or other.
The thing that give me pause (besides the MS moose-pasture 2,000' shale idol thing, whoops wrong company) is the Canadian OTC thing. I think the Canadian OTC exchange forward looking statement rules would allow Skip, Jay, CMK and me to form a company which will "utilize existing theoretical design and industry relationships to demonstrate great potential and opportunity in the formation of anti-gravity fields to prevent the sky from falling" without running afoul of the regulators.
Anyone say, "pump and dump"?
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Permalink Reply by Skip Peel - Mineral Consultant on
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But it's such a FRESH APPROACH, Dion! And I can smell that IPO! Excuse me now, I need to go shop for my yacht. LOL!
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Permalink Reply by Checkmateking on
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Well I have 3000 feet of HA shale near Miami Beach, who wants in on the IPO?
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Permalink Reply by The_Baron on
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Only if you have your drilling permission slip from Obama. Even then I would have to see how the cap. gains will hit me when I sell 30 seconds later.
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Permalink Reply by jffree1 on
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Hmmm, Could this be the 5,000 acres they are talking about?
Mainland Resources Grabs Haynesville Shale Acreage in Mississippi
Mainland Resources, Inc.|Tuesday, September 09, 2008
Mainland Resources, Inc. has signed a Letter Agreement to acquire 5,000 net acres in Mississippi where the Company plans to drill the first test well to evaluate the potential Haynesville Shale gas formation in the region.
http://www.rigzone.com/news/article.asp?a_id=66449
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Permalink Reply by Skip Peel - Mineral Consultant on
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Way to go jffree. I bet you are right. You guys are beginning to sound like industry members. LOL!
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