UAPC Provides Update on Its Marcee Well in Gonzales County, Texas
06 Février 2012 - 3:00PM
United American Petroleum Corp. (OTCBB:UAPC) would
like to announce it completed a workover on its Marcee well located
in Gonzales County, Texas, which consists of 112 lease acres. The
well is now back online and producing. During the workover, the
well was pulled and washed out to a total depth of 8,720' and
approximately 90 barrels of oil were recovered throughout that
process.
At present, United is pumping back approximately 800 bbls of
water and 100 bbls of spent acid, which was pumped into the well
during the acid job. This procedure is going extremely well and we
anticipate this well to add relevant cash flow to the Company's
operations. United is currently evaluating daily production of the
well, and once the well is stabilized the Company estimates
production to be approximately 8-10 BOPD. United owns 100% working
interest in this well and expects its production to increase the
Company's overall revenue stream. Additional information regarding
the Marcee well will be forthcoming as this well stabilizes and oil
flow is monitored over the course of the next month.
For additional information regarding the Company's operations,
projects, management team and other valuable information, please
visit the Company's web site at www.unitedamericanpetroleum.com. To
be placed on the Company's master email list and receive future
press releases, progress reports and developments, please send an
email to ir@unitedamericanpetroleum.com or contact the Company at
+1 855-PETROL-1
About United American Petroleum Corp.
United American Petroleum Corp. is an independent exploration,
development, acquisition, production, and operating company engaged
in advanced exploration, drilling and completion techniques to
explore for, produce and develop domestic oil and natural gas
reserves. The Company's strategy centers on increasing shareholder
value through actively pursuing and developing high-potential
acquisitions for drilling and production while maintaining a
prudently managed balance sheet. The Company's main current
projects are in Texas, however, additional acquisitions may
encompass active plays throughout the United States.
The United American Petroleum logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8834
Forward-looking Statements:
This press release contains forward-looking statements (as
defined in Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended)
concerning future events and the Company's growth and business
strategy. Words such as "expects," "will," "intends," "plans,"
"believes," "anticipates," "hopes," "estimates," and variations on
such words and similar expressions are intended to identify
forward-looking statements. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will
prove to have been correct. These statements involve known and
unknown risks and are based upon a number of assumptions and
estimates that are inherently subject to significant uncertainties
and contingencies, many of which are beyond the control of the
Company. Actual results may differ materially from those expressed
or implied by such forward-looking statements. Factors that could
cause actual results to differ materially include, but are not
limited to, changes in the Company's business; competitive factors
in the market(s) in which the Company operates; risks associated
with oil and gas operations in the United States; and other factors
listed from time to time in the Company's filings with the
Securities and Exchange Commission. The Company expressly disclaims
any obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Company's expectations with respect
thereto or any change in events, conditions or circumstances on
which any statement is based.
Cautionary Note to U.S. Investors -- The United
States Securities and Exchange Commission permits oil and gas
companies, in their filings with the SEC, to disclose only proved
reserves that a company has demonstrated by actual production or
conclusive formation tests to be economically and legally
producible under existing economic and operating conditions. We use
certain terms in this press release, such as "probable,"
"possible," "recoverable" or "potential" reserves among others,
that the SEC's guidelines strictly prohibit us from including in
filings with the SEC. Investors are urged to consider closely the
disclosure in our Annual Report on Form 10-K and our other filings
with the SEC.
CONTACT: United American Petroleum Corp.
Barry Gross
+1 855-PETROL-1
ir@unitedamericanpetroleum.com
info@unitedamericanpetroleum.com
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