For American Petro-Hunter Inc. (OTCBB: AAPH) The Skies The Limit
Online, June 14, 2013 (Newswire.com) - After 3 years of drill programs, financial wrangling, and share dilution, American Petro-Hunter Inc. (OTCBB: AAPH) is a fully fledged and well financed oil producing company.
With wells across 6 sights in Oklahoma and Kansas producing 600 BPD and continued drilling programs through 2015 to tap into an estimated 3,000,000 barrels of oil, American Petro-Hunter is here to stay.
American Petro-Hunter's CEO, Robert McIntosh, has recently closed a $5,000,000 financing agreement with Magna Group to guarantee the success of continued drill programs. Regarding the agreement McIntosh says, "This closing provides the Company up to $5,000,000 in additional capital which will augment our existing financing arrangement when we require operational and drilling funds to be used in the Company's development of the Mississippi Lime and Woodford shale plays in Payne and Lincoln Counties, Oklahoma. We can now plan more effectively as to when and where we will be drilling our first horizontal well under the 2013 development plan.
With a 24 month restructured financing program that gives Magna Group 5 million shares of common stock, it is clear that analysts with Magna Group anticipate share prices to rise significantly over the next 2 years. Joshua Sason, the Chief Executive Officer of Magna Group, notes, "We are excited and enthusiastic about launching our relationship with American Petro-Hunter and are confident that our long-term commitment will help bolster operations and drilling activity. In the oil and gas space, it's of utmost importance to invest in solid management, and we believe strongly in Mr. McIntosh's ability to execute American Petro-Hunter's business plan."
After a long down trend it seems American Petro-Hunter shares have found their bottom at $0.01 in early June. With no indications of going sub-penny and currently trending upward, this may be the best investment in oil and gas right now. Magna Group certainly thinks so.
This does not constitute an offer or advice to buy or sell securities.
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