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AEDC

AEDC Is Tuesday's Energy Play

 

Company: American Energy Development Corp.

Symbol: AEDC.ob

Current PPS: $0.145

Outstanding Shares: 87.3M

Float: 81.7M

Website: www.aed-corp.com

About the Company:

American Energy Development Corp. (AEDC) Founded in 2010, American Energy Development Corp. (AEDC) is an independent U.S. energy company, committed to creating American energy independence through the development of acreage in established oil and gas basins. AEDC though the use of innovative geological, geophysical, and environmental technology, AEDC's goal is to locate, drill, and produce oil and gas in the United States and secure regions. AEDC is currently focused on the development of Niagaran oil reefs in Michigan and the underexplored onshore basins in the United Kingdom.

AEDC rapid growth strategy has led to the strategic acquisition of 30,243 acres of prime oil and gas acreage, and more than 19 sq. miles of high quality 3-D Seismic data on their properties which are targeting prolific oil and gas formations in proven basins. Currently AEDC has several projects which are situated in close proximity to high-output producing wells operated by  the world's largest oil companies.

Just last Thursday AEDC announced that they have dentified their second well location on the 1,343 acre Dansville Prospect in Southern Michigan, with spudding planned to begin this month.

American Energy Development Prepares Second Well Location on Dansville Prospect
8:00a ET April 5, 2012 (GlobeNewswire)

American Energy Development Corp. (OTCBB:AEDC), hereafter "AED," has identified its second well location on the 1,343 acre Dansville Prospect in Southern Michigan, with spudding planned to begin in April.

AED's Cremer 1-1 well is the second of a series of wells planned on the prospect and located approximately one mile North-Northwest of AED's successful Brown 2-12 well. By utilizing the latest geological and geophysical technology, including the company's 19.23 square miles (12,300 acres) of high-resolution 3-D seismic data, AED has been able to build detailed analysis of the potential reef structure, to target areas of highest porosity with the best potential for recoverable reserves.

Data suggests the Cremer 1-1 reef structure is comparable in pinnacle height to the company's first drilled well, Brown 2-12, which was drilled on the Brown-12 reef structure. AED will apply the knowledge gleaned from the drilling of the Brown 2-12 to developing Cremer 1-1, while again using proprietary drilling techniques. The operator has contracted a conventional rotary drilling rig from a service provider under a turn-key contract, which includes the drill bits, blow-out preventers, surface casing, fuel, well supervision and engineering.

The drill location for Cremer 1-1 is already surveyed, bonded, and permitted. A direct access road is being prepared in order to move drilling equipment onto the site. The drilling rig is expected to arrive in the second week of April, with drilling to begin soon after.

The Dansville Prospect is located in close proximity to wells drilled by Exxon Mobil, BP and Royal Dutch Shell. The Niagaran reef play in Michigan has produced in excess of 470 million barrels of oil and 2.8 trillion cubic feet of natural gas. According to a USGS report, recoverable reserves are believed to be in excess of 1.8 billion barrels of oil and 17 trillion cubic feet of natural gas.

"The success at Brown 2-12 has provided a road map for development at Cremer 1-1," said Herold Ribsskog, president of AED. "We expect that the drilling stage of the Cremer 1-1 well will follow a similar timeline as was achieved with the Brown 2-12 well, while again delivering positive results to our stockholders."

We are urging all members to keep a close eye on AEDC and to be ready to put your buy orders in ASAP!!!

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