MARKET ANNOUNCEMENT
Monthly Production Report
JANUARY MONTHLY ACTIVITIES REPORT
Melbourne, February 28, 2019, American Patriot Oil and Gas Ltd ("AOW") ") is pleased to present its monthly activities report for the period ending 31 January 2019.
Key highlights of these actions are:
Record Monthly Revenue of $405,975 AUD/$292,302 USD +6% vs previous month Monthly production of 282 boepd (net AOW)
We set out additional details below.
Monthly Production
The January monthly results have resulted in total production of 4,038 bbl oil and 26,523 mcf gas or 282 boepd (vs 310boepd in December). This production generated total revenue of USD$292k (AUD$405k). The revenue is higher due to the Peak Energy income being recorded for the first time partly offset by lower revenues from Magnolia and Burnett due to lower commodity prices. The production is lower than the recent December monthly results due to 8 Peak Energy wells being offline for maintenance which generate approximately 30boepd and several Goose Creek wells which generate 14bopd due to the salt water disposal unit being down for permitting. Burnett oil production was also lower. We are expecting to bring a number of these wells back online during the coming weeks. The results are detailed below:
Asset | Net Production (Month) | Revenue (USD) * | |
Oil (bbl) | Gas (mcf) | ||
Anasazi | 506 | 2,690 | $9,538 |
Goose Creek | 172 | $3,847 | |
CWS | 276 | $25,396 | |
Peak Energy | 1,395 | 4,721 | $154,657 |
Magnolia | 418 | 10,871 | $45,394 |
Burnett | 1,272 | 8242 | $53,470 |
Total | 4,038 | 26,523 | $292,302 |
*Revenue is cash receipts in January related to December production
Production and Revenue Trend
AOW Production and Revenue
350,000
320
310
300,000
300
290
250,000
USDRevenue
280
200,000
270
260
150,000
250
BOEPD
240
100,000
230
220
50,000
210
-
200
November
December
JanuaryRevenue USDBOEPD
American Patriot Oil and Gas Ltd | Level 5, 97 Pacific Highway, North Sydney, NSW 2060 |
ACN: 154 049 144 | Ph: +61 2 8624 6130 |
Email:info@ap-oil.com.au website:www.ap-oil.com | 1 |
-ENDS- | |
Investor inquiries: | Media inquiries: |
Alexis Clark | Luke Derbyshire |
Chief Executive Officer | Managing Director |
American Patriot Oil & Gas Ltd | Spoke Corporate Pty Ltd |
(613) 9945 8739 | (614) 488 664 246 |
aclark@ap-oil.com | luke@spokecorporate.com |
About American Patriot Oil and Gas |
American Patriot Oil and Gas (AOW) is an oil and natural gas exploration and development (E&P) group headquartered in Melbourne, Australia, with a U.S. office in Houston, Texas. The Company is focused on developing a significant conventional oil and gas production company focused on assets in the Texas and Gulf Coast region. The company has announced a number of recent acquisitions with a focus on acquiring conventional producing properties with low operating costs onshore USA with reserve reports and significant production upside via shut in wells, workover potential, behind pipe potential and infill drilling upside.
American Patriot Oil and Gas Ltd | Level 5, 97 Pacific Highway, North Sydney, NSW 2060 |
ACN: 154 049 144 | Ph: +61 2 8624 6130 |
Email:info@ap-oil.com.au website:www.ap-oil.com | 2 |
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Disclaimer
American Patriot Oil and Gas Ltd. published this content on 28 February 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 February 2019 02:04:00 UTC