United American Petroleum Corp. Announces Workover Completion of Its McKenzie Lease in Pecos County, Texas
19 Avril 2012 - 3:00PM
United American Petroleum Corp. (OTCBB:UAPC) is
pleased to announce it has completed the scheduled workover on its
McKenzie lease in Pecos County, Texas. During the workover the
damaged tubing was replaced, the downhole pump was redressed, and a
hot oil treatment was performed. The well is back online and
producing. United anticipates the well to produce an estimated 10 -
12 bbls of oil per day, which was its most recent production rate
prior to developing a hole in the tubing. United will provide an
update to the investment community upon verification of established
sustainable production results, which will take approximately two
weeks to verify.
Historically, this well has produced 10-12 bbls a day, which
equates to approximately 2 loads of oil production per month.
United currently owns 100% working interest in this well which
should increase its overall monthly production and revenue stream.
With current oil prices, this well should prove to be a great asset
for the Company and its shareholders by additionally fortifying its
foundation in a proven low-risk manner.
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 Investor
Relations 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, risks associated with drilling and production
programs resulting from geological, technical, drilling, seismic
and other unforeseen problems; unexpected results of exploration
and development drilling and related activities; 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 available at
www.sec.gov or from us at United American Petroleum Corp., 9600
Great Hills Trail, Suite 150W, Austin, TX 78759.
CONTACT: United American Petroleum Corp.
Barry Gross
+1 855-PETROL-1
ir@unitedamericanpetroleum.com
info@unitedamericanpetroleum.com
United American Petroleum (PK) (USOTC:UAPC)
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