American Petro-Hunter, Inc. report that the horizontal oil and gas drill program of its new "South Oklahoma Project" leases is nearing commencement. The inaugural well has been designated SOM-1H and will be spud on or around the last week of March. Site preparations are currently underway and the drilling contractor has advised they will be mobilizing their rig to the site as soon as possible.

The "South Oklahoma Project" covers a gross area encompassing over 5,000 acres with net leased acreage now exceeding 3,000 acres. The well is engineered to drill approximately 2,500 feet of lateral section into the oil-rich Mississippian formation which has proven historically productive throughout the immediate area from numerous vertical wells. The formation is 100 to 120 feet thick across the total prospect area. Vertical Mississippi Lime producers in the immediate vicinity have generally enjoyed long lives with essentially flat decline curves after fairly high initial flush production.

Tags: American Petro-Hunter