This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

American Eagle Energy Corp. Announces Drilling Of New Well In Hardy Field, SE Saskatchewan

LITTLETON, Colo., Jan. 30, 2012 /PRNewswire/ -- American Eagle Energy Corporation (OTCBB: AMZG; "American Eagle") and its partner, Passport Energy Ltd (CNSX:PPO), are pleased to announce the drilling and casing of the second horizontal development well in the Hardy Bakken Field.  The Hardy Hz 3D14-17-3A3-17-4-21 (Hardy 14-17) was drilled to a total measured depth of 3,358 m (11,015 ft) with a lateral section of approximately 1,280 m (4,200 ft).  A 26-stage fracture stimulation planned for the completion is scheduled for late February pending availability of the service crew.    

American Eagle has received license approval for another well, the Hardy Hz 3D14-5-3A3-5-4-21 (Hardy 14-5), located approximately two miles south of the newly drilled well.  Two additional well license applications are being prepared for submittal within the next 30 days.  

The two existing wells in the Hardy Bakken Field continue to produce at stable rates with total gross production averaging approximately 160 bopd. 

"We are pleased to have been able to capture the opportunity to accelerate our 2012 development plans by getting another of our planned wells drilled early in the year," stated Brad Colby, American Eagle's President.  "Our team had the location permitted and built, which allowed us to take advantage of a rig window that was presented to us on short notice," Mr. Colby continued. 

About American Eagle Energy Corporation:

American Eagle Energy Corporation is an oil and gas company engaged in the exploration of petroleum and natural gas.  The company was incorporated in Nevada on July 25, 2003 for the purpose of acquiring, exploring, and developing natural resource properties.  Prior to December 1, 2011, the Company operated under the name Eternal Energy Corp.  The company changed its name to American Eagle Energy Corporation in December 2011 upon the completion of its acquisition of American Eagle Energy Inc., another oil and gas company engaged in a similar business with which the company shared certain properties and prospects. 

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements.  Certain information included in this press release contains statements that are forward-looking, such as statements relating to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, potential contracts, and/or aspects of litigation.  Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of American Eagle Energy Corporation.  These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.  Persons are encouraged to read (i) the company's Annual Report on Form 10-K for the year ended December 31, 2010, and its Quarterly Report on Form 10-Q for the three-month period ended September 30, 2011 (both under the name "Eternal Energy Corp."), and (ii) the Annual Report on Form 10-K for the eight-month period ended December 31, 2010, and Quarterly Report on Form 10-Q for the three-month period ended September 30, 2011 (both under the name "American Eagle Energy Inc."), as well as the other documents filed under each name with the Securities and Exchange Commission for meaningful cautionary language in respect of forward-looking statements in this press release.  Interested persons are able to obtain free copies of filings containing information about the companies under each of their names at the SEC's internet site ( http://www.sec.gov).  American Eagle Energy Corporation does not assume any obligation to update any of these forward-looking statements.

SOURCE American Eagle Energy Corp.

Stock quotes in this article: AMZG, PPO 
Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,498.80 -2.85 -0.02%
S&P 500 1,877.77 +2.38 0.13%
NASDAQ 4,146.6640 +19.6970 0.48%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs