AEDC Finalizes Acquisition of 4,000 Acre White-tail Prospect

Penny Stocks To Watch:

American Energy Development Corp. (OTC: AEDC)

American Energy Development Corp. finalized the agreement to acquire oil and gas rights to approximately 4,000 additional acres in Northern Michigan, known as the White-tail Prospect.

AEDC Stock Chart

The White-tail Prospect considerably expands AED’s presence within the state’s prolific Niagaran reef proven reef play, and brings the company’s total Michigan acreage to more than 5,300 acres.

Reefs in Northern Michigan are typically 50-400 acres in size, 200-700 ft in depth, and located within the oil bearing 12 -15 mile wide reef belt. There are over 110 oil fields in the area with reserves larger than 1 million barrels, with the average size of these fields being approximately 2.4 million barrels recoverable.

The largest reefs drilled in the area are the Chester 18A field, with 14 million barrels of recoverable oil, drilled by Royal Dutch Shell, and the Grant 13 field, which has approximately 47 billion cubic feet of recoverable natural gas.

About AEDC Stock

American Energy Development Corp. is an independent US energy company, committed to creating American energy independence through the development of acreage in established oil and gas basins. Using the latest geological, geophysical, and environmental technology, the Company’s goal is to locate, drill, and produce oil and gas in the United States and secure regions. American Energy Development’s focus is on the development of Niagaran oil reefs in Michigan and the underexplored onshore basins in the United Kingdom.

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