Posted on 09 April 2012.
Outstanding Shares: 87.3M
American Energy Development Corp. (AEDC) is a New York based company founded in 2010 that engages in the exploration, development, and acquisition of oil and gas properties in the state of Michigan and internationally in the United Kingdom. Using 3-D seismic survey, AEDC’s Michigan properties are positioned in target areas on the Niagaran reef belt that is known to produce 472 million barrels of oil and 2.8 trillion cubic feet of natural gas.
The Michigan Basin is estimated to have total recoverable reserves of 1.8 billion barrels of oil and 17 trillion cubic ft of natural gas. Therefore, AEDC’s first 1,343 acre Michigan property, Dansville Prospect, recently placed its first well into full production with estimated recoverable reserves of 650,000 barrels of oil. With this success, AEDC is currently in development of an additional well, with spudding to begin in April, and is expected to have similar results as AEDC’s first Dansville well. Secondly, AEDC’s Northern Michigan property, White-Tail Prospect, is composed of 4,200 acres with five identified reef locations. AEDC’s targeted reef locations have an estimated average oil recovery of 2,400,000 barrels of oil per reef. Furthermore, AEDC’s largest property location is the 24,700 ace Windsor Prospect located on the onshore fields of the United Kingdom. The Windsor Prospect is AEDC’s most recent acquisition that is estimated to have prospective resources of 615 million barrels of oil.
AEDC’s property combination of 30, 423 acres are all well- known regions that have been targeted by Exxon Mobil, Royal Dutch Shell, BP, Westbay Exploration and Marathon Oil.
AEDC is a Hot Penny Stock!
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