Key Developments: AER Energy Resources Inc (AERN.PK)
0.00USD
11:26am EDT
$-0.00 (-33.33%)
$0.00
$0.00
$0.00
$0.00
624,000
352,545
$0.00
$0.00
Latest Key Developments (Source: Significant Developments)
AER Energy Resources, Inc.'s Global Wealth Group Signs MOU To JV With Peruvian Gold Mine
AER Energy Resources, Inc. announced that its subsidiary Global Wealth Group, Inc.(GWG) has signed an MOU with Avenill Ventures, LLC (AVL) with Gold operations in Lima, Peru. GWG has agreed in principal, pending final due-diligence and approval from AERN's board, to fund the initial and expected rapid growth rate of AVL's new Retail raw gold sales. Previously AVL has been selling gold to refiners in Lima, Peru and Los Angeles, CA. Raw gold prices are often 5-7% below Spot prices in this wholesale market but with this new 50/50 JV between the parties; AVL will now be able to sell larger quantities and receive 10-15% above daily Spot gold pricing. Full Article
AER Energy Resources, Inc. Acquires OK Leases From TX Energy
AER Energy Resources, Inc. announced that it has acquired three OK O&G leases from Fort Worth, TX. based Texas Energy, Inc. The purchase combines AER Petroleum, Inc and TX Energy's OK O&G assets. Al Karmali, President and CEO of TX Energy, will become the President of AER Petroleum, Inc. Corporate offices for AER Petroleum will relocate to Fort Worth, TX. AER Petroleum will begin secondary recovery on three existing wells and plans to commence drilling on all three leases within 60 days. Emphasis will be on completing the most promising new wells first and then finishing the remaining wells on a drilling schedule of two wells per month. With one drilling Rig available, an estimated two wells per month over 12-18 months of drilling will complete the process allowing for climate delays. Full Article
AER Energy Resources, Inc. Announces Joint Venture Agreement for Drilling Project With Texas Energy, Inc.
AER Energy Resources, Inc. announced that it has successfully signed an agreement with Texas Energy, Inc. of Fort Worth, TX for the formation of a joint venture on a 50/50 Net Working Interest basis on three Oklahoma leases with a minimum of eight wells per lease for a total of 24 wells at 3,200 feet for an estimated combined 720 BOPD @ $80/bbl risk adjusted price that will yield a potential $20,000,000 in new annual revenues. The OK leases are part of the Osage Prospects including the Buttrey, Waldon and Fletcher locations. Full Article
AER Energy Resources, Inc. Announces Joint Venture Agreement For Drilling Project With Black Gold Exploration LLC
AER Energy Resources, Inc. announced that it has signed an agreement with Black Gold Exploration LLC of Farmersville, TX for the purchase of a 50% interest in a joint venture. AER Energy Resources, Inc. is purchasing a 50% joint venture interest for the drilling of two new wells on leases in Knox County, Texas. The agreement calls for a Definitive Joint Venture to be executed no later than October 20, 2011 with closing no later than November 11, 2011. The Black Gold joint venture involves the drilling of two 1800 feet vertical wells through the Wolfcamp Lower Permian Sandstone, the Saddlecreek Sandstone, the Noodle Creek Sandstone and the Stockwether Limestone. Upon completion the JV expects well production to approximate 60 Barrels of oil per day. At risk conservative pricing of $80 bbl; the JV is estimated to be valued at upwards of $1.3 million annually. Full Article
AER Energy Resources, Inc. Announces Agreement For Joint Venture Oil And Gas Project
AER Energy Resources, Inc. announced that it has signed an agreement with Eric Johnson and Riverton Energy for the formation of a Joint Venture to purchase oil and gas leases in South-Central Louisiana with the intent to drill to 12,500 feet to test the Nodasaria Frio Sand (9,400 feet), the Cockfield Sand (10,700 feet) and the Sparta Sand (12,300 feet), all of which are producers of oil and natural gas in surrounding fields at Fordoche, Livonia and Opelousas. Full Article
AER Energy Resources, Inc. Signs Joint Venture To Supply ExxonMobil Fuel
AER Energy Resources, Inc. announced that it has entered into an agreement for the formation of a Joint Venture with Energex Fuel Corporation and Triton Global Petroleum to supply an estimated USD420 million of ExxonMobil product annually to the aviation industry. Full Article
AER Energy Resources, Inc. To Purchase 13 Existing Shallow Oil Wells In Neosho County, Kansas
AER Energy Resources, Inc. announced that it has successfully signed an agreement with Multiplex Resources to purchase 13 existing shallow oil wells in Neosho County, Kansas. The Company will immediately begin a rework of eight of the 13 wells and drill an additional 10 new off-set wells, utilizing the latest drilling technology for maximum efficiency, and cost effectiveness. Financial terms were not disclosed. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
