United American Petroleum Corp. Announces Increased Production From Its McKenzie Lease in Pecos County, Texas
May 03 2012 - 8:00AM
United American Petroleum Corp. (OTC Markets:UAPC)
is pleased to announce that sustained production from its McKenzie
well located in Pecos County, Texas has been achieved. Upon initial
return to production, the well produced 32 bbls of oil per day. The
Company has successfully choked the well back to a sustained 16
bbls per day to help alleviate potential mechanical and downhole
issues from producing the well too hard.
The sustained production of 16 bbls per day is on a timer to
reduce operating costs and prevent maintenance issues. The Company
is continuing to monitor the well to assess whether a 'stair
stepping' process can be utilized to increase the amount of time
the well pumps on a daily basis, which could further increase
production.
Michael Carey, President and CEO of United, stated, "We are
excited about the results from the McKenzie asset, which even with
the current sustained production of 16 bbls of oil per day,
exceeded the anticipated production of 10 - 12 bbls of oil per day.
This is a 30% increase from those estimates. Results have been
better than anticipated, and with this being just one of the many
wells in our asset base, we look forward to delivering further
positive updates in the near future and boosting monthly
revenues".
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
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