RENO, Nevada, July 22, 2011 (GLOBE NEWSWIRE) — American Energy Development Corp., (OTCBB:AEDCD) (the “Company” or “AEDC”), is pleased to announce the appointment of Herold Ribsskog to position of Chief Executive Officer and President of the Company. Mr. Ribsskog also currently serves as member of the Company’s Board of Directors.
Mr. Ribsskog has over 25 years in the oil and gas industry working�with�several of the world’s leading industry players such as Shell, Mobil, Amoco and Talisman Energy where he has undertaken project planning, development and management on large oil and gas developments in the Norwegian North Sea.
Mr. Ribbskog has a B.Sc. degree in Cybernetics Engineering from the University of Kongsberg, Norway.
Joel Felix, Chief Financial Officer of American Energy Development Corp., said, “The appointment of Herold Ribsskog as CEO is a natural progression for AEDC’s growth as we believe Herold’s experience will guide AEDC forward as we continue the development of our business.”
About American Energy Development Corp.
American Energy Development Corp. is an independent US energy company committed to creating American energy independence through the development of acreage in oil and gas regions using the latest geological, geophysical, and environmental technology to locate, drill, and produce oil and gas in the United States. American Energy Development Corp.’s current focus is on the development of its acreage portfolio in Ingham County, Michigan.
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company’s growth and business strategy.�Words such as “expects,” “will,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates,” and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements.�Factors that could cause actual results to differ materially include, but are not limited to, changes in the Company’s business; competitive factors in the market(s) in which the Company operates; risks associated with oil and gas operations in the United States; and other factors listed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.�
Cautionary Note to U.S. Investors – The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only reserves that comply with the definitions presented at Rule 4-10(a) of Regulation S-X. We use certain terms in this press release that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. Examples of such disclosures would be statements regarding “probable,” “possible,” or “recoverable” reserves among others. U.S. Investors are urged to consider closely the disclosure in our Form S-1, File No. 333-169014, available from us at American Energy Development Corp., 9190 Double Diamond Parkway, Reno, Nevada, 89521.
CONTACT: American Energy Development Corp.
Joel Felix, CFO
9190 Double Diamond Parkway
Reno, Nevada, 89521
(855) 645-2332
http://bit.ly/ohtezt
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