United American Petroleum Corp. Announces Production Results From Its Marcee Lease In Gonzales County, Texas
15 Mai 2012 - 3:42PM
United American Petroleum Corp. (OTCBB:UAPC) is
pleased to announce that sustained production from its Marcee well
located in Gonzales County, Texas has been achieved. Current
production is a sustained 6 bbls of oil per day on a timer, which
will aid in the reduction of operating costs and maintenance
issues.
A 'stair stepping' process will be utilized to potentially
increase the amount of time the well pumps on a daily basis, which
could further increase well production. The Company also believes
additional revenues may be generated from gas production from this
well; however, the volume and sellable quality of the gas has not
yet been determined. Based on the current amount of sustained
production from the Marcee well, the Company looks forward to
producing 1 load of oil per month, which is a 2,400% increase from
the original production rate of oil per day prior to the
workover.
United will continue to monitor this well to determine if
increased amounts of production are achievable by increasing the
length of time the well is producing daily. Additionally, the
Company will provide an update regarding the gas analysis as
developments 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, 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 and our other filings
with the SEC 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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