Schlumberger Report Determines 300 Bcf Per Section on American Exploration Corp. Lands in Mississippi
CALGARY, Alberta, Sept. 15 /PRNewswire-FirstCall/ -- American Exploration Corp., a Nevada company ("the Company"), (OTC Bulletin Board: AEXP), has received a shale gas analysis completed by Schlumberger, evaluating the total gas in place within the Haynesville Formation (Shale) in the mineral leases held by the Company in Mississippi. From existing well data, the assessment confirms similar reservoir attributes to the Haynesville Shale of northwestern Louisiana and demonstrates estimated gas in place of at least 300Bcf/section. This places more than 2 Tcf of estimated gas on the property.
A single deep well was drilled into the prospect in 1981, at a time when neither the technology for developing nor the understanding of shale gas reservoirs existed. The well penetrated a greatly over-thickened Haynesville shale reservoir that was completely gas charged and tremendously overpressured. The Haynesville Shale on the American Exploration leases is more than eight (8) times the thickness of that found in northwestern Louisiana.
The gas in place assessment by Schlumberger was performed having first conducted mineralogical and geochemical analyses on rock cuttings samples from the 1981 well, which penetrated the Haynesville Formation. These results were then integrated with the petrophysical log data from which the gas volumes were determined.
The Haynesville Formation in NW Louisiana exploded onto the natural gas market over the past 18 months, following announcements from some of the industry's most significant gas players. Chesapeake, EnCana and Petrohawk have released results indicating that the Louisiana shale contains upwards of 250 Tcf. Current wells show Initial Production ranging from 5 Mmcf to 23.5 Mmcf per day.
The Haynesville shale is now widely recognized as the 4th largest gas field in the world.
About American Exploration Corp.
American Exploration Corp. is engaged in the exploration and development of oil and gas prospects with the potential for discovery of new or unconventional hydrocarbon resources in the continental United States.
Contact: Mr. Steve Harding Tel. 403-233-8484 American Exploration Corp. Suite 110, 1915 - 27 Avenue NE, Calgary, Alberta T2E 7E4 Canada
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THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. EACH OF THE NASD, THE SEC AND THE OTCBB NEITHER APPROVES NOR DISAPPROVES OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
SOURCE American Exploration Corp.
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