American Energy Production Inc. (the "Company") (OTC BB:AMEP.OB - News) announced today
its wholly owned subsidiary Bend Arch Petroleum Inc. ("Bend Arch") completed potential natural gas test on well #11-H on the
1,100 acre Padgett lease in Palo Pinto County, Texas.
The Padgett 11-H Barnett Shale well has been fracture stimulated and after recovery of frac fluid the well is ready to
deliver natural gas to the natural gas purchaser. A 160 pumping unit has been installed to move salt water and oil that will
enable the continued production of natural gas.
Preliminary production potential test show the Padgett 11-H will produce approximately 350,000 cubic feet of natural gas and 10 barrels of oil per day.
Natural gas production will possibly increase as the well stabilizes after thirty to sixty days of operations.
As previously reported AMEP recently received shareholder approval and withdrew its election to be a business development company.
As a result, AMEP is now an oil and gas operating company whose business focus is the purchase, exploration, drilling and operation of oil
and natural gas leases in the Fort Worth Basin and Medina County, Texas. Additionally, entities previously classified as portfolio companies
of AMEP are now wholly owned subsidiaries.
About: American Energy Production, Inc.
American Energy Production Inc. is a Business Development Company. A BDC company is regulated under the 1940 SEC act. That act
set out procedures by which a Company once it establishes a majority position in a Company
