Amherst Energy Inc. Provides Operations Update

CALGARY, Alberta, June 25, 2018 (GLOBE NEWSWIRE) — Amherst Energy Inc. (Amherst) is a new private Calgary based oil and gas exploration company.

Amherst Energy Inc. commenced operations in February of 2017 with a business plan of acquiring acreage on low-risk oil prospects with large Total Petroleum Initially-In-Place and multiple drilling locations.

A principal objective was to acquire a substantial acreage inventory during a period of very low industry activity.

To date, Amherst has successfully acquired over 12,000 acres of mineral leases in six oil prospect areas, Morgan, Lloydminster, Leo, Thorsby and Provost in Alberta and Lashburn in Saskatchewan. The prospects are targeting a combination of heavy and light oil.

An independent evaluation conducted by Apex Global Engineering Inc., dated May 1, 2018, has estimated that there are 163.2 million barrels of Total Petroleum Initially-In-Place and 6.9 million barrels of primary recoverable oil on Amherst’s lands.

Amherst’s management have identified 111 potential locations on its existing holdings and the company plans to begin development operations in the fourth quarter of 2018.

Amherst presentations can be viewed on our website at:
Amherst Energy