UAPC Provides Update on Its Gabriel #16 New Drill
10 Février 2012 - 3:00PM
United American Petroleum Corp. (OTCBB:UAPC) is
pleased to provide the investment community with an update on its
Gabriel #16 New Drill located in Bastrop County, Texas. A workover
of the well was completed the week of January 13, 2012, and the
well has been drilled to a depth of 3,060' to date.
During the workover, United's geologist, who is partnered in the
project with the Company, discovered a "honeycomb-like" portion of
the Serpentine formation, which is approximately 146' from the
projected TD of 3,200'. United is currently evaluating the most
viable techniques to move forward and complete further in the
Serpentine formation and bring this well online. To date, United
has realized encouraging signs of hydrocarbons (oil shows) through
data obtained during the drilling process and anticipates
meaningful production results upon reaching its main objective
within the Serpentine formation. The Company also anticipates other
potential payzones of interest within the Gabriel #16 wellbore
which can be explored at a later time.
Additional information regarding the Gabriel #16 well will be
forthcoming as developments and completion analyses unfold.
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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