American Standard Energy Corp. Reports 309% Quarterly Revenue Growth

SCOTTSDALE, Ariz., May 23, 2011 /PRNewswire/ -- American Standard Energy Corp. (the "Company") (OTCBB:ASEN), announces the continued expansion of acreage positions, oil and gas production and revenue growth for the first three months of 2011. For the quarter, the Company reported oil and gas revenues of $2,388,493, representing sequential growth of 209% over the fourth quarter revenue figure of $772,046. Compared to the same period in 2010, the Company generated 1,169.65% revenue growth compared to $188,122 in first quarter revenues for the three months ended March 31, 2010 before the impact of subsequent acquisitions.

Q1 2011 Highlights:

• Acquired production from 36 gross (18.4 net) wells in the Permian, which increased daily production by more than 350 BOE.
• Increased wells by 16 gross wells (.26 net) to 63 gross (approximately .80 net) wells in the Bakken in which it holds working interests.  Of this amount, 30 gross wells (.41 net) were producing as of March 31, 2011.  Combined production approximated 125 barrels of oil per day.
• Successfully completed two 100% Wolfberry wells in Upton County.  Combined daily production average 150 BOE per day in the first quarter of 2011.
• Increased Bakken oil, gas and mineral leases by 164% totaling approximately 16,343 net mineral acres for an average of $625 per acre.
• Increased Permian oil, gas and mineral leases by 55% totaling approximately 6,500 net mineral acres.
• Increased daily production 509% to approximately 700 BOEPD.
• Successfully raised a combined $34.4 million in net proceeds from two equity private placements completed in February and March 2011.

Subsequent Events:

• Increased our total proven barrels of oil equivalent reserves to 4,709,436.  This represents a 287% increase over December 31, 2010 reserves.
• Purchased oil, gas and mineral leases totaling approximately 14,555 net mineral acres for an average of $995 per acre in the Bakken.  This represents a 89% increase in Bakken acreage compared Bakken acreage held as of March 31, 2011.

Scott Feldhacker, CEO commented on the first quarter's 2011 operational performance:  "The first quarter of 2011 was a period of significant accomplishment for American Standard Energy.  We executed on a series of important growth opportunities and we expect to maintain a rapid pace throughout 2011.  As we have already demonstrated early in the second quarter, we will continue to accelerate our acquisition program for acreage in the Bakken/Three Forks.  We will also accelerate our ability to acquire proven producing wells and develop our existing acreage in the Permian.  We feel that our ability to acquire and aggressively develop key assets in the Permian, Eagle Ford and Bakken will differentiate American Standard Energy as a unique and rapidly growing company in three of the most desirable plays in the continental US today."

Scott Mahoney, CFO emphasized the pace of achievement for ASEN in first quarter of 2011:  "We are very pleased with the rapid growth we have enjoyed in the early part of 2011. Our diversification has served us well in the past quarter, when weather issues slowed development in the Rockies and North Dakota.  We also look forward to expanding our non-operator plus model, with an emphasis on our self-directed drilling program on our 100% working interest properties in the Permian.  We feel this will continue to be instrumental in our ability to accelerate our growth and complement our acreage position and our rapid develop expectations in the Bakken."

About American Standard Energy:

American Standard Energy Corp is a non-operated exploration and production company based in Scottsdale, AZ. ASEN's primary focus is balanced between the Permian and the Bakken and Eagle Ford oil shale resource prospects in the continental United States. ASEN currently controls approximately 16,200 net acres in the following three primary prospect areas:

• 32,700 core net acres targeting the Bakken/Three Forks in North Dakota;
• 6,500 net acres targeting the Permian formation in West Texas;
• 1,200 net acres targeting a specific Eagle Ford prospect in South Texas;

Forward Looking Statements

Except for the historical information contained herein, this press release contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act").  All statements other than statements of historical facts included in this report regarding our financial position, business strategy, plans and objectives of management for future operations, industry conditions, and indebtedness covenant compliance are forward-looking statements.  When used in this report, forward-looking statements are generally accompanied by terms or phrases such as "estimate," "project," "predict," "believe," "expect," "anticipate," "target," "plan," "intend," "seek," "goal," "will," "should," "may" or other words and similar expressions that convey the uncertainty of future events or outcomes.  Items contemplating or making assumptions about, actual or potential future sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.

Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond our Company's control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: oil and gas prices, our ability to raise capital, general economic or industry conditions nationally and/or in the communities in which our Company conducts business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, other economic, competitive, governmental, regulatory and technical factors affecting our Company's operations, products, services and prices.  

We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control.  

CONTACT:
Investor Relations
Andrew Wall, General Counsel
(480) 371-1929

SOURCE American Standard Energy Corp.