The company said it continues to implement its plan of acquiring existing leases with operating wells or wells for secondary recovery opportunities.
AER Energy president Stanley Wilson said the three Rehoboth leases along with the 23 Multiplex wells previously announced bring the company substantially ahead of 2011 planned benchmarks with net revenues totaling in the millions.
The transaction to acquire the Rehoboth leases is expected to close by 15 November 2011.
AER Energy is a diversified holding company with an emphasis on oil and gas exploration, drilling, well completion and fuel distribution.
