As part of its development plan to meet internal intermediate and long term production goals, production acquisitions based on ‘proved, developed, producing’ (PDP) assets combined with multiple ‘probable undeveloped drilling’ (PUD) locations are undergoing rigorous consideration, the company said.
The company has commissioned third party, reservoir engineering reports on two producing fields in California and one in Kansas, which are currently yielding production ranging from 50 to several hundred barrels per day.
These existing production scenarios are considered undervalued given their proved developed and probable reserves.
American Petro-Hunter’s preliminary assessment has determined that the fields under review have the potential to offer many PUD locations for future drilling as well as existing, long life reserves which the company will add to its current daily production from the existing Kansas and Oklahoma wells.
