AERN stock is up another 30% today at $0.1183 and was as high as $0.1225 earlier this morning. AERN has traded over 34 million shares so far today.
The company continues to trend higher after releasing a ton of news last week. After market close on Friday, AER Energy announced a Joint Venture project with Riverton Energy to purchase oil and gas leases in Louisiana. The two partners plan to begin drilling on these land leases soon.
Here’s what Stan Wilson, AER President and General Counsel, had to say about the joint venture. “Having previously worked with Riverton Energy on capital formation for the development of two Eagle Ford Shale mineral leases, the Mathews and the Murphy Leases in Zavala County, Texas, I am pleased that AER Energy Resources, Inc. has been afforded this opportunity to joint venture with Riverton Energy on the “Bayou B Prospect” in the Atchafalaya Basin area with an expected lease acquisition to take place in early November and drilling to begin no later than February 2012.”
Both companies will manage the project and they have a local operator for the drilling operations.
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