MINERAL WELLS, Texas, Sept. 16, 2003 (PRIMEZONE) -- American Energy Production (OTCBB:AMEP) announced that oil production from Well No. 70 on its Marble Falls Unit, located in Comanche and Eastland counties, Texas, began today. This is the first oil and gas well on the Unit to be turned on for production. After initial oil production is established, AMEP will use the new oil additive which the Company is currently testing in South Texas on its heavy oil operation for possible use on paraffin that is produced in the Marble Falls formation.
The Marble Falls Unit consists of 3,000 acres with multiple producing formations that have a long history of oil and gas production. Management is formulating a plan to fracture stimulate the Barnett Shale formation that is a blanket formation located on the property.
American Energy Production Inc. will announce, in a few days, the results of the testing on the heavy oil additive on the South Texas oil leases.
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the result, performance, or expectations exposed or unknown factors could cause actual results to materially differ from the result, performance, or expectations exposed or implied by such forward-looking statements.