Archer Petroleum Corp. is very pleased to announce the appointment of Mr. Joe Mike McKinney to the Board of Directors, effective immediately.
Mr. McKinney's 50+ years of experience in Oil & Gas encompasses virtually every major basin in North America at all levels of management, in the areas of exploration and production, asset evaluation, acquisition, strategic planning and investment banking.
Mr. McKinney's previous experience includes senior positions at Majors such as Exxon, Superior Oil, Union Texas, as well as serving as President and COO of the International Division of EOG Oil & Gas. His expertise is in the maximizing of return on exploration and development investment, with a key focus on strategic growth.
"On behalf of shareholders, I am pleased to welcome Joe Mike to the Archer Petroleum team. Joe Mike's expertise in Oil and Gas exploration and development will be of significant value in the growth of Archer, and we look forward to benefitting from his invaluable years of experience," said Colin Bowkett, President and Director of Archer.
Joe Mike McKinney states: "I'm extremely pleased to be a part of the Archer team and look forward to working together with management as we execute a long-lasting strategy to create shareholder value in the near and long term. I believe the opportunity that exists for Archer and its shareholders is significant, and I look forward to being a part of the team going forward."
About Archer Petroleum:
Archer Petroleum Corp. is an independent oil and gas company focused on the exploration and development of its assets in North America including the Permian Basin of West Texas and the Bakken Shale area of North Dakota. The Company's shares are listed on the TSX Venture Exchange under the symbol "ARK".
Archer holds a 25% net working interest in approximately 4,700 gross acres within the Greater Joe Mill Project in West Texas, with an option on an additional 5,700 gross acres in the area. Archer commenced drilling operations in February 2010 and has plans to drill an additional 2 wells in 2010. An evaluation of oil & gas reserves in the Greater Joe Mill Project has been completed to NI 51-101 standards.
Archer additionally holds a 50% working interest in approximately 1,500 acres in a Bakken Shale play located in North Dakota. Archer's partner in this project is a large private operator with a proven track record of success in the Bakken Shale and drilling operations are expected to commence in late 2010 or early 2011. www.archerpetroleum.com
The Sail and Anchor 3-13-14 HBK (horizontal Bakken) well completed drilling the 8-3/4” intermediate hole, set and cemented 7” casing at 11,675 feet measured depth at 86 degrees in the upper Middle Bakken.
The Polar System is designed to gather 50,000 barrels of crude oil per day and 25,000 barrels of water per day from the Bakken and Three Forks shale formations in North Dakota.