AER Energy conducts the drilling program to develop oil reserves in a shallow horizon of a known reserve pool of hydrocarbons.
The company intends to develop and bring to completion 100 wells in its first full year of operation.
The company expects to receive the minimum net revenue from the wells as $2,400,000 per year.
AER Energy president Stan Wilson said the company believes that Multiplex’s efficiency and experience will bring the highest degree of margin, and expanded opportunities to the company.
AER Energy is engaged in oil and gas exploration, drilling, well completion and fuel distribution.
