New Dansville oil well spud date set for American Energy Development

Source: American Energy Development Corp.

American Energy Development Corp. (AED) (OTCBB:AEDC.OB) has received notification of the arrival date of the drilling rig and proposed spud date for the Cremer 1-1, on the 1,343 acre Dansville Prospect in Southern Michigan.

With dirtwork on the site location underway in preparation for the start of drilling, the drilling rig has been secured to arrive on the 1,343 acre Dansville Prospect with a spud date for the week commencing April 16th, targeting the Niagaran oil reef structure.

Applying proprietary drilling techniques on the reef structure, AED plans to target areas of highest porosity, which the company believes will contain the best potential for both highest production rates and recoverable resources. Using the same drilling contractor as used for the Brown 2-12 for the development of the Cremer 1-1 well, and deploying a conventional rotary drilling rig under a turn-key contract, a vertical well will be drilled to a depth of ~4,500 feet, a similar depth to the company's initial well on the Dansville Prospect, Brown 2-12. The drilling stage is expected to take 10-14 days to reach drilling total depth.

Historical records of the Niagaran reef production in Michigan confirm over 4,200 wells being drilled targeting reef formations, and producing a total of 472 million barrels of oil and 2.8 trillion cubic feet of natural gas, with development of reef trends driven by Royal Dutch Shell, BP and ExxonMobil. According to a recent USGS report on the basin, the recoverable reserves are in excess of 1.8 billion barrels of oil, and 17 trillion cubic feet of natural gas.

"We are working with the same team on our second Dansville Prospect well," said Joel Felix, CFO of AED. "Both teams learned a great deal working together on Brown 2-12, our successful initial well on the Dansville prospect. With this confirmation that the rig will be on site shortly with a planned spud date of the second week of April, we remain on schedule with the development of Cremer 1-1."

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