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American Energy Production Inc. Announces Success on Re-Start of Uni-Draulics Jet Pump on Bend Arch Petroleum Inc. Nash 1-C Barnett Shale Well
MINERAL WELLS, Texas--(BUSINESS WIRE)--Aug. 2, 2005--American Energy Production Inc. (OTCBB:AMEP - News) announced today its wholly owned investee Bend Arch Petroleum Inc. began re-start operations of a uni-draulics jet pump on the Nash 1-C Barnett Shale well. Charles Bitters, President of American Energy Production Inc. stated, "Bend Arch Petroleum Inc. began successfully producing the Barnett Shale well on Friday, July 29, after exchanging the complete down hole jet assembly and production tubing. The Nash 1-C is still not stabilized but on Monday August 1, the well produced in excess of 20 barrels of high gravity oil and 100,000/cubic feet of natural gas. At today's market price of $60.00/barrel for oil and $8.00/mcf of natural gas this would be approximately $1600.00/day or $48,000.00/month or $570,000.00/year gross revenue. This will add a very nice piece to the Bend Arch Production Inc. income. The company will post more results once the well has a chance to stabilize therefore giving a clearer picture as to the future of the Nash 1-C well."
The installation of the uni-draulics jet pump on the Nash 1-C well instead of a conventional pumping unit will move more oil and produced water from the well bore faster and more efficiently than the conventional pumping unit.
Charles Bitters also stated, "Bend Arch Petroleum Inc. has accumulated over 7,000 acres of leases that have potential Barnett Shale production. Oil America Group Inc. of Dallas, Texas another 100% owned investee of AMEP plan to offer drilling partnerships to potential investors to drill Barnett Shale wells on the above mentioned properties in the near future. Oil America Group Inc. will begin offering these partnerships in the next two weeks. For more information contact Joe Christopher at Oil America Group Inc."
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all signs pointing to an above .03 close imo.This is still (IMO)the best natural gas oil play in the OTC's.Very low OS and I still expect more news to come on the new technology. ;D Buying this anywhere under a nickel is one of the best deals I have seen lately and soon many will see this as a steal anywhere under a dime. ;D By: 1greeneyedhawk 02 Aug 2005, 10:12 AM EDT Msg. 20675 of 20680 (Msg. is a reply to by None.) Since AMEP reported about a half million in revenues last Q, you can plainly see that this new re-entry well will add about 25% to the revenues. I am most interested in the completion of the next well which will be a horizontal well off another 5 1/2 casing re-entry. Logically, it should be AMEP biggest producer to date. I am looking for it to be a +million $$ annually well. Keep in mind that these wells will produce for 20-30 years or more per independent DD. Plus these wells come back to near original production when re-fraced. Technicals are not to be overlooked here. Doing extremely well off the Golden 50/200 MA crossing. Last time AMEP made the crossing it was a 7 bagger on no revenues, was obtaining leases. Re-traced on no revenues. Now AMEP has revenues and they are ramping nicely to push the crossing with fundamentals. I am bullish on AMEP, and will continue to accumulate. Long BIPH, ABEW, HISC, and AMEP. Up a multi-bagger on all but AMEP. IMVHO AMEP will be the next bagger, IMVHO and per the DD. GL all AMEP longs ... %^ greeneyedhawk
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By: 1greeneyedhawk 02 Aug 2005, 10:43 AM EDT Msg. 20699 of 20700 (This msg. is a reply to 20615 by DrillBit.) Jump to msg. # Drill, I believe AMEP will be profitable after the next two wells are completed, since both will be horizontals which should be AMEPs biggest two producers. These two wells will also be 100% NWI, which is rare among small O&NG producing companies. CB said during our last conversation that AMEP will be profitable in less than a year now. The picture of how he is going to make that happen is becoming very clear, IMHO. What will the SP be when AMEP reports profits??? GL all AMEP longs. Long holds: BIPH, ABEW, HISC, and AMEP(accumulating and holding strong). ... hawk
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By: stephqb 02 Aug 2005, 01:41 PM EDT Msg. 20742 of 20746 (This msg. is a reply to 20739 by undervaluedpicker.) Jump to msg. # Undervalued, note that Oil America Group will be selling drilling partnerships for some/many/all? the new wells drilled. Drillbit is guessing that Bend Arch will have a Net Revenue Interest of only 25%.
However, there are a couple of offsets: Hawk points out that production from a horizontal well is much higher than a vertical well (which your benchmark is), and you have not taken into consideration future revenues from PRI.
(Voluntary Disclosure: Position- Long)
By: undervaluedpicker 02 Aug 2005, 01:22 PM EDT Msg. 20739 of 20747 Jump to msg. # Ok, so my assumptions are holding validity then
I had indicated a likely price of $1.134 for AMEP or roughly a market-cap of $340M. Now looking at the calculations that the others had put here for the number of wells likely in the 7000 acres, I get the idea that we are looking at about 100 wells. Extrapolating the same $570k revenue per well that Nash-1 is being projected as per PR today, we get a potential annual revenue of $57M for the 7000 acres. The normal Price to Sales figure for a growth stock is 6, therefore multiplying 57 by 6 gives us a market-cap of $342M or just a decimal shy of $1.15 per share (if the current OS as per Yahoo Finance is correct).
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WOW! UP-Natural Gas RTQ (Oil 61.80), new high of year per CNBC a few minutes ago. CB will take AMEP to profitability on the back of these record energy prices in the next 12 months or less IMVHO. ... hawk
Commodity Futures Price Quotes For NYMEX Henry Hub Natural Gas Commodity market prices and quotes are updated continuously during market hours. (Price quotes for NYMEX Henry Hub Natural Gas delayed at least 30 minutes as per exchange requirements)
Month Click for chart Session Pr.Day Options Open High Low Last Time Sett Chg Vol Ticks Sett OpInt Sep 05 8.19 8.41 8.122 8.38 13:34 - +0.226 32421 18727 8.154 90868 Call Put Oct 05 8.26 8.42 8.18 8.41 13:33 - +0.201 16992 5707 8.209 57720 Call Put Nov 05 8.78 8.9 8.7 8.87 13:32 - +0.131 4853 2456 8.739 35139 Call Put Dec 05 9.24 9.3 9.14 9.3 13:33 - +0.101 2778 2563 9.199 32434 Call Put Jan 06 9.56 9.63 9.49 9.62 13:33 - +0.076 3387 2692 9.544 32201 Call Put Feb 06 9.555 9.61 9.49 9.61 13:26 - +0.071 2250 1208 9.539 19979 Call Put Mar 06 9.34 9.44 9.32 9.44 13:23 - +0.071 3230 1495 9.369 32808 Call Put Apr 06 8.18 8.24 8.125 8.22 13:03 - +0.016 2339 910 8.204 20441 Call Put May 06 8.06 8.06 7.98 8.06 13:25 - +0.016 1325 560 8.044 18912 Call Put Jun 06 8.08 8.1 8 8.08 12:38 - +0.002 279 487 8.078 6926 Call Put Jul 06 8.085 8.12 8.05 8.12 13:26 - -0.007 172 163 8.127 11708 Call Put Aug 06 8.15 8.15 8.15 8.15 10:59 - -0.019 754 12 8.169 9749 Call Put Sep 06 8.135 8.15 8.135 8.15 13:26 - -0.002 28 229 8.152 8844 Call Put Oct 06 8.1 8.17 8.1 8.13 11:01 - -0.054 1291 224 8.184 17386 Call Put Nov 06 8.51 8.51 8.51 8.51 10:56 - -0.016 44 143 8.526 8492 Call Put Dec 06 8.84 8.856 8.84 8.84 10:56 - -0.004 160 134 8.844 8293 Call Put Jan 07 9.07 9.08 9.02 9.02 12:28 - -0.064 1095 70 9.084 9987 Call Put Feb 07 - - - 9.074 - - 0 26 43 9.074 2928 Call Put Mar 07 - - - 8.924 - - 0 100 24 8.924 6356 Call Put Jun 07 - - - 7.554 - - 0 0 47 7.554 2336 Call Put Dec 07 - - 8.34 8.165 11:14 - -0.184 0 17 8.349 3831 Call Put
the EOD rally was stumped by MM action,even my tester buys slightly above the ask did not execute but one tester under the ask did....imagine that crap!
posted
from yesterdays PR,it looks like the DT's are playin the tenths on it today but this is clearly way undervalued!
American Energy Production Inc. Announces Success on Re-Start of Uni-Draulics Jet Pump on Bend Arch Petroleum Inc. Nash 1-C Barnett Shale Well
August 02, 2005 09:00:13 (ET)
MINERAL WELLS, Texas, Aug 02, 2005 (BUSINESS WIRE) -- American Energy Production Inc. (AMEP, Trade) announced today its wholly owned investee Bend Arch Petroleum Inc. began re-start operations of a uni-draulics jet pump on the Nash 1-C Barnett Shale well.
Charles Bitters, President of American Energy Production Inc. stated, "Bend Arch Petroleum Inc. began successfully producing the Barnett Shale well on Friday, July 29, after exchanging the complete down hole jet assembly and production tubing. The Nash 1-C is still not stabilized but on Monday August 1, the well produced in excess of 20 barrels of high gravity oil and 100,000/cubic feet of natural gas. At today's market price of $60.00/barrel for oil and $8.00/mcf of natural gas this would be approximately $1600.00/day or $48,000.00/month or $570,000.00/year gross revenue. This will add a very nice piece to the Bend Arch Production Inc. income. The company will post more results once the well has a chance to stabilize therefore giving a clearer picture as to the future of the Nash 1-C well."
The installation of the uni-draulics jet pump on the Nash 1-C well instead of a conventional pumping unit will move more oil and produced water from the well bore faster and more efficiently than the conventional pumping unit.
Charles Bitters also stated, "Bend Arch Petroleum Inc. has accumulated over 7,000 acres of leases that have potential Barnett Shale production. Oil America Group Inc. of Dallas, Texas another 100% owned investee of AMEP plan to offer drilling partnerships to potential investors to drill Barnett Shale wells on the above mentioned properties in the near future. Oil America Group Inc. will begin offering these partnerships in the next two weeks. For more information contact Joe Christopher at Oil America Group Inc."
SOURCE: American Energy Production Inc.
American Energy Production Inc. Charles Bitters, 210-410-8158 www.americanenergyproduction.com or Oil America Group Inc., Dallas Joe Christopher, 972-386-0601 jchristopher@oilamericagroup.com Copyright Business Wire 2005
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Energy Act Presents Modest Benefits to Public Power 2:09p EDT August 2, 2005 (PR NewsWire) Standard & Poor's Ratings Services said today that the effects of the Energy Policy Act of 2005 passed by Congress last week on U.S. public power credit quality will be relatively positive overall, although any benefits will be modest and slow to be realized.
Key areas of benefit include provisions for increased fuel supply, support for nuclear and renewable energy, improved transmission, and federal authority related to specified legal proceedings.
The Energy Act includes a series of favorable provisions and incentives aimed at increasing domestic production of oil and gas -- a goal that might ultimately be difficult to realize.
"In recent years, tight supply of natural gas has resulted in higher and more volatile commodity prices," said Standard & Poor's credit analyst Peter V. Murphy. "The absence of long-term gas price stability has been of particular credit concern due to the large volume of power plant capacity completed, in progress, or planned, that uses natural gas as its primary fuel. While the Energy Act's provisions alone will not solve production and demand imbalances, any improvement in the supply of natural gas over the long run will beneficially affect electricity production costs."
Likewise, the Energy Act supports the continuation or development of nuclear and renewable energy, which could similarly affect power supply and prices over the longer term, with little upfront benefit.
"The Energy Act also contains provisions to enhance the nation's transmission system and the authority of the FERC to site critical reliability and growth projects, as well as to try to improve the overall transparency in transmission cost of service--all of which are important to the transmission- constrained wholesale power markets of the U.S.," said Mr. Murphy.
In addition, by establishing the Electric Reliability Organization to enforce reliability standards, the Energy Act should improve the operations of the grid. However, upgrades to the nation's transmission system will remain costly, and how these costs will be allocated remains uncertain.
One narrowly drawn provision of the Energy Act that could have a more immediate effect is Section 1270, which could potentially provide relief to Snohomish County Public Utility District, Wash. ('A+' electric system revenue bond rating, stable outlook), and other power purchasers in the West affected by market manipulation in the Western energy crisis of 2000-2001. The provision gives FERC jurisdiction to determine whether purchasers are required to make termination payments for power not delivered by a seller found to have manipulated wholesale electricity markets: a reference to Enron Corp. If FERC so rules, Snohomish would not be required to make the termination payment of more than $125 million claimed by Enron, which is in bankruptcy.
It is expected that President George W. Bush will soon sign the Energy Act of 2005 into law.
About Standard & Poor's
Standard & Poor's is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research, data and valuations. With approximately 6,700 employees located in 21 countries and markets, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit www.standardandpoors.com.
SOURCE Standard & Poor's
Media Contact: David Wargin, New York (1) 212-438-1579 david_wargin@standardandpoors.com Analyst Contacts: Peter V Murphy, New York (1) 212-438-2065 Theodore Chapman, Dallas (1) 214-871-1401 http://www.prnewswire.com
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