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The Company and operating partners plan to drill 10 wells in the upcoming year. The first offset development well is scheduled to spud on January 25th and following that, one additional well each successive month.
This represents a $2.5 million investment by the Company which, if production rates are as anticipated, will be returned through revenue and cash flow on a very short payback.
In the short-term, American Petro-Hunter will acquire quality exploration projects in targeted jurisdictions favorable for near-term production close to existing infrastructure. American Petro-Hunter will aggressively search for existing production (Proved Developed Producing /PDP) from smaller, undervalued or underutilized properties that show high promise for probable undeveloped reserves (PUDs).
Intermediate-term goals are focused on production through drilling multiple projects. The “basket” of projects include a mix of higher risk and higher reward targets as well as stable, low risk targets. American Petro-Hunter plans on building the company into a 500-1000 BOE producer in the next 2 to 3 years.
Long-term goals are to take the company through exploration, development and production in excess of the 1000 BOE level in the aim of creating an inviting target for merger or acquisition by one of the majors.
American Petro-Hunter will strive to book value in reserves such that the net asset value of the company would warrant a senior board listing allowing funding to acquire the larger, most prolific projects both on and off shore.
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