AERN AER Energy Resources Inc (CE)

AER Energy Resources, Inc. (PINKSHEETS: AERN), a diversified holding company with an emphasis on oil and gas exploration, drilling, well completion and fuel distribution, announced they have completed reworking three wells on two of their Texas leases.

A Wall Street Journal Market Watch article, released yesterday after market hours, states that crude oil contracts have hit their highest numbers in almost a year. This benefits AER Energy by being able to profit from reworking active, proven wells that were abandoned in times of low oil prices.

Other companies like Lucas Energy (NYSE: LEI) focus on active but abandoned wells like AER Energy. These wells are usually too small for companies like Chesapeake Energy (NYSE: CHK) or BP (NYSE: BP), but still provide opportunity when oil prices are near the levels they are at presently.

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