AER Energy Resources intends to commence a rework of eight of the 13 wells and drill an additional ten new off-set wells, utilizing the new drilling technology for maximum efficiency, and cost effectiveness.
AER Energy Resources president Stan Wilson said AER Energy Inc intends to complete the Kansas acquisition in October and immediately begin secondary recovery operations.
"Funding for the purchase and drilling expense has been dedicated and new production upon completion is expected to produce a minimum of $750,000 in net new revenues," Wilson said.
AER Energy Resources is acquiring high quality leases in proven fields, typically surrounded by existing production.
The company has selected Multiplex Resources to conduct all drilling and on-going operations.
