American Petro-hunter Inc. (OTC BB: AAPH.OB)   American Petro-Hunter is a goal-oriented exploration and production (E&P) Company aiming to become an intermediate level oil and gas producer within 12 months. We believe that continued industry growth through the development and exploration of conventional domestic oil and gas reserves will provide the essential near-term stabilizing backbone and primary driver towards an American made economic recovery and restoration of our vital financial system to prosperity. With the achievable target of becoming a 1000 BOE producer as our goal, American Petro-Hunter is actively on the “hunt” for domestic petroleum through exploration and acquisition. For more information on AAPH, please go to www.americanpetrohunterinc.com. CURRENT PROJECTS: Rooney Oil Project Field Development Location: Ford County, Kansas Analog Production: Wells 2 miles away cum. 344,000 BO and 1 BCF gas- other wells 35-40,000 barrels Land Holdings: 5120 gross acres under lease Interest: 50% Working Interest, 40.75% NRI Drilling Timeline: November & December 2009 Q1 & ongoing in 2010 Depth of Test: 5,400 ft. Recoverable Reserves Estimate: 500,000 barrels potential Gross Pay Interval: 12+ ft. Number of Potential Locations to Drill: 10 - one every other month Projected Initial Production Rate: 200 BOPD Work Program 1st well In production January 2010 American Petro-Hunter has successfully drilled the first of a series of wells proposed for the Rooney oil project located in southwestern Ford County, Kansas, 20 miles due south of Dodge City off US Highway 283. The acreage block presently contains 8 sections totaling 5,120 acres in T-29-S, R-24 & 25W Ford County. Management considers this acreage to be a “core” land holding, one that future development can provide the basis for the requisite BOE production necessary to meet intermediate and long term goals. The Rooney Project is directly adjacent to the north edge of an existing oil and gas production area. An analog well designated as 3-30-25W in the pool has cumulatively produced 344,448 Barrels of oil and 933,622 MCF gas. There are multiple wells within 2 miles of our acreage that have produced in the 35,000 to 40,000 barrel range from discrete sand channels. The #24-1 Double H well was drilled in late November of 2009 and encountered a 12 foot pay zone that produced excellent quality 44 degree oil in the tubing up to the surface from 5,400 feet of depth with fluid test results returning 99% oil cut. The strong down-hole reservoir pressure combined with the initial data results have allowed engineers to calculate that the well should be capable of producing over 200 barrels per day. After a review of the 3D seismic data in conjunction with the electronic logs, the potential barrels of oil associated to the #24-1 Double H well and oil pool is currently estimated at 500,000 barrels. American Petro-Hunter is now preparing to commence offset drilling operations at the Rooney Project in Kansas. The Company participated in a 3D seismic shoot this summer which has provided ample data regarding the potential on the acreage. The shoot was successful as multiple targets have been identified from the recently interpreted 3D seismic across the entire acreage. The partners and operator have identified up to ten promising targets and are readying plans to move ahead with the first in a series of 5 wells chosen as the best candidates heading into 2010. The first offset location is being readied and, if successful, an ongoing multi well program is envisaged immediately thereafter. Poston Oil Project Lutters #1 Well Trego County, Kansas Location: Trego County, Kansas Analog Production: Wells 1.5 miles away producing between 35 BOPD and 200 BOPD Land Holdings: 750 gross acres under lease Interest: 25% Working Interest, 20.4% NRI Formation: Mississippian Dolomite, Cherokee Sands Depth of Test: 5,000 ft. Depth of Target Interval: 4,800+/- ft. Recoverable Reserves Estimate: 60,000 BOPW—240,000 Barrels potential fully developed Gross Pay Interval: 7-10 ft. Number of Offset Locations to Drill: 2-3 additional Projected Initial Production Rate: 35-100 BOPD Production Facilities: Tank Battery Required The #1 Lutters Well oil well was successfully drilled on the Poston Prospect, Trego County Kansas during the month of May this year. The well encountered excellent quality 44 degree light oil in tests with 65% oil cut with 10% gas and mud with no water. A casing election was made and pipe set following well logging. The #1 Lutters well began production as a commercially viable oil well on June 18, 2009. The well targeted oil in the Mississippi Dolomite and/or Cherokee sands. The location showed a significant 3D Seismic anomaly pinpointing the oil bearing zone. In addition, the 750 acre lease block has the potential for a multi-well program with 2 to 3 offset locations possible to fully exploit the acreage. Shipments of oil began in June. With successful offsets planned to the east and south the field could ultimately produce between 150 and 200 barrels per day. The #2 Lutters well drilled encountered good oil shows but lacked the reservoir quality of the first location. With this gained knowledge, offset step outs to the east and south are now planned. The 2 additional oil wells are planned for January 2010 and the estimates of the lease ultimately delivering 150-200 barrels per day are still valid. N.C.R.A. (National Co-op Refinery Assoc.) of McPherson Kansas, the oil purchaser, is regularly shipping oil for sale from the Lutters lease. The Company is closely monitoring the well production over the next two quarters. The well should stabilize over a short period of time which will allow for a more in-depth evaluation of future rates with a higher degree of precision. As oil production rates may ultimately differ from those calculated or anticipated; oil pumped to the tanks is therefore the most accurate assessment of any early stage producer. Colby Oil Prospect Keck #1 Well Thomas County, Kansas Location: Thomas County, Kansas Analog Production: 30 BOPD to 200 BOPD up to twenty miles Land Holdings: 500 gross acres under lease Interest: 25% Working Interest, 20.4% NRI Formation: 7 zones to test. Primary objectives Lansing and Kansas City Formations -  Limestone and sands Depth of Test: 4,900 ft. Depth of Target Interval: 4,700+/- ft. Recoverable Reserves Estimate: 50,000 BOPW—200,000 Barrels potential fully developed Gross Pay Interval: 1-20 ft. Number of Offset Locations to Drill: 2-3 additional Projected Initial Production Rate: 75-100 BOPD Work Program Tank Battery Required American Petro-Hunter has acquired a 25% Working Interest in the Colby Prospect, located in Thomas County, Kansas approximately 13 miles southwest of the town of Colby. The 500 acre block has a well defined 3D seismic anomaly that includes 7 potential zones to be tested. The primary objective of the first test well is oil in the Lansing and Kansas City Formations. The Colby Prospect remains a viable prospect as light oil was discovered in the Kansas City formation and may be present in other locations on the lease. The main objectives had good shows of oil in the Cherokee and Johnson formation in vuggy limestone host rock that appear to be of quality to contain substantial hydrocarbons. The #1 Keck location drilled did not exhibit suitable reservoir permeability to produce at commercial rates though other locations on the lease may have the requisite permeability to produce. The Company remains hopeful that the Colby will be brought into future production by the second offset well. Further work and analysis is required to develop the Colby lease. Engineering estimates place the potential production from the indicated pay zones at between 75 and 100 barrels per day. Full development of the field from 2 or 3 offset well locations on the structure could produce between 200 and 400 BOPD. A plugged oil well that was drilled and discovered oil when prices were depressed subsequently is approximately 2/3 of a mile from the first well location and the well was not completed. West Texas Project Crockett County, West Texas Location: Crockett County, West Texas Analog Production: 6 Wells Producing 300-500 Mcf per day Land Holdings: 9,000 + gross acres under lease Interest: Purchasing 100% working interest in 2 producers Formation: Canyon Sandstone Depth of Test: 4,400 – 5,500 Feet. Depth of Target Interval: 4,600-4,800  ft. Recoverable Reserves Estimate: 0.5 BCF per well location Gross Pay Interval: Gas Intervals over 200 feet of sands Number of Locations to Drill: 6 Projected Initial Production Rate: 300-500 MCF per day Production Facilities: Pipeline in place The Company has entered into an agreement with Oxalis Energy Group whereby the Company intends to purchase production from two existing gas wells from Oxalis. Under the terms of the Letter of Intent (L.O.I.), the Company is undertaking a due diligence on the project, located in West Texas, by a thorough review of the project data and well production history. The Company intends to purchase a minimum of 1.0 MMCF per day from the two wells for a proposed purchase price of $1.5 million. In the event of a successful due diligence, to be carried out over the next 60 days, the companies may close the transaction by year end. In addition, as part of the ongoing development of the project, the Company will have the rights to drill a minimum of ten (10) development locations. The Texas gas play is low risk, development drilling where wells are producing on average of approximately 300-600 MCF per day. The estimated costs of drilling, completing and tie-in of each well on the lease is approximately $450,000. With production of 500 MCF per day, 10 wells could potentially produce 5MMCF and pay out in less than 1 year. The wells are long life and have reservoir engineering of 0.5 BCF per location. Sacramento Gas Prospect Location: Central Valley California, Sacramento Area. Analog Fields: Union Island (271 BCF), Vernalis (103 BCF)and McMullin Ranch (63 BCF) Land Holdings: 1,000+ Gross Acres Interest: 25% Working Interest. Target: Target sands defined by 2D seismic. Drilling Timeline: 1st well summer 2009. 3 Well Program Projected Drainage Area: 650+ acres Gross Pay Interval: 50 feet of sand pay at 7,400 foot depth Potential Recoverable Reserves: 42 BCF AMERICAN PETRO-HUNTER has executed a Purchase and Sale Agreement with the vendors of the “Sacramento Gas Project” whereby American Petro-Hunter has acquired a 25% working interest in the play. The project is located west of Modesto in the Central Valley of California, near Sacramento. Potential Recoverable Reserves have been calculated to be 42 BCF at a depth of 7,400 feet within sands that are indicated by 2D seismic to be in excess of 50 feet of gross pay. Estimates by the play generator, a private third party engineering group, is that if the pay zone is 100% gas filled and the well is brought into commercial production that an IPR (initial production rate) of 5,000 Mcf per day may be achieved. American Petro-Hunter would anticipate similar rates to commercial wells in the region at analog fields that produce on a daily basis between 2,000 to 4,000 Mcf per day. Natural Gas wells in these analog field’s exhibit long life, relatively stable rates of production and predictable decline. The Central Valley in the Sacramento region of California is called “California’s Gas Country” and nearby fields contains some of the most prolific gas reservoirs in the Sacramento Valley. They have accounted for over 400 BCF of gas production to-date. In proximity to the prospects are prolific gas fields such as Union Island (271 BCF), McMullin Ranch (63 BCF) and Vernalis (103 BCF). The project, if commercially viable would produce gas that would be purchased by PG&E Citygate that supplies gas to the Capital region of Sacramento and is used in electrical power generation in the area. PG&E Citygate prices are some of the highest in the country and prices can be found at outlets such as www.intelligencepress.com   AAPH Projects Table   Click here to view our latest Corporate Overview - January 2010 Research Report January 2010 - Grass Roots Research & Distribution, Inc.   PLEASE NOTE WELL: The OTCHotline.com employees are not Registered as an Investment Advisor in any jurisdiction whatsoever. 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