posted
from the last PR based on the first well start up and figure 10 to 15 more by mid month or so.
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.
posted
I think AMEP is going to be a killer pick near term when the next well announcements hit,if you DD'd them you must know just how much this company really has in land ownership and leases and the latest numbers released from one single well are outstanding and even if only half of the 10 to 15 projected wells match this the revs are thru the roof!!
I am just sitting back and buying up shares when I can and happy to do so.
posted
I've been waiting for this stock to hit a stable bottom... as it has been dropping like a rock. I think it has to turn around soon...sooner than we might expect.
Crude Oil Heading for Third Weekly Gain on Refinery Concern Aug. 5 (Bloomberg) -- Crude oil rose, poised to close for the first time above $60 a barrel for a full week in New York, on deepening concern refineries may struggle to meet a year-end peak in demand for fuels.
Oil, headed for its third consecutive weekly gain, surged to a record $62.50 a barrel two days ago following the death of Saudi Arabia's King Fahd on Aug. 1. Refinery shutdowns and speculation about hurricane damage have also underpinned prices.
``The concern with the refining situation hasn't gone away,'' said Kevin Blemkin, a broker with Man Financial in London. ``In the background, you've got hurricanes that are likely to cause havoc and affect output if they hit'' platforms.
Crude for September delivery rose as much as 57 cents, or 0.9 percent, to $61.95 a barrel on the New York Mercantile Exchange, where it was up 41 cents at 11:11 a.m. London time. Prices have almost doubled from the end of 2003.
U.S. refineries have operated at more than 90 percent of capacity since March, racing to meet surging demand for oil-derived products such as gasoline and diesel. They've also started to boost supplies of heating oil before requirements pick up in the fourth quarter. No new refineries have been built in the U.S. in almost 30 years.
Brent crude for September settlement added 47 cents, or 0.8 percent, to $60.59 on London's International Petroleum Exchange.
Oil prices may fall next week on expectations the U.S. will import more oil next week, increasing its stockpiles, and gasoline demand will decline as the summer driving season winds down, a Bloomberg survey showed.
Price May Drop
Twenty-six of 52 analysts and strategists surveyed, or 50 percent, said oil will fall next week. Eighteen, or 35 percent, said prices will rise and eight forecast little change. U.S. crude inventories were 7.3 percent higher than their five-year seasonal average last week, according to the Energy Department.
The ``build-up in inventories has not pressured prices only because spare capacity is very low and geopolitical risk means it could be easily wiped out by a terrorist attack or another disruption,'' said Darius Kowalczyk, senior investment strategist at CFC Securities Ltd. in Hong Kong.
As demand climbs, some processing plants are breaking down. Chevron Corp. shut a 200,000-barrel-a-day unit at its El Segundo refinery in California after a fire there on July 20. The unit won't be back on line for a week and a half, the Los Angeles Times reported, citing a Chevron spokesman.
Limited Supplies
Exxon Mobil Corp. shut its Joliet, Illinois, refinery on July 30 because the water-cooling system failed. BP Plc shut a unit at its Texas City, Texas, refinery on July 31 for maintenance. The plant also suffered an explosion and fire last week, the second since March.
``The world seems to be getting used to $60 a barrel,'' said Sam Tilley, an analyst with Sucden U.K. Ltd., a London broker. ``With refinery problems at the moment and demand increasing in the fourth quarter, there is a chance prices could increase further. Gasoline stocks are currently an issue.''
U.S. gasoline supplies decline by 4 million barrels last week, according to the Energy Department, more than four times the expected drop. That left them 2 percent below their five-year seasonal average.
Refinery ``shutdowns as well as the potential damage from the continuing hurricane season in the U.S. are combining to limit supply,'' CFC's Kowalczyk said. ``Crude is likely to make new record highs next week.''
posted
By: crito123 05 Aug 2005, 09:39 AM EDT Msg. 20936 of 20945 Jump to msg. # Only people already watching AMEP would have caught the Business Wire story. When we get mentioned in a broader story on the Barrett by someone like Dow Jones this issue will soar for sure, never returning to these levels. That's why swing trading AMEP may be riskier than buying and waiting IMHO. You never know when that story will hit, and when it does it'll be too late to get back in at 2 cents. I'd even go so far as to say 10 cents is a conservative estimate. Again, all IMHO, so do your own DD.
By: rvd 05 Aug 2005, 10:27 AM EDT Msg. 20939 of 20945 Jump to msg. # Crude Futures Head For Fresh Record Crude futures head for a fresh record By Myra P. Saefong SAN FRANCISCO (MarketWatch) -- September crude is up 62 cents at $62 a barrel after trading as high as $62.20 earlier. Prices are nearing the $62.50 record they touched on Wednesday amid ongoing refinery problems and the latest drop in U.S. gasoline supplies. September natural gas is up 9.9 cents at $8.57 per million British thermal units
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy)
By: 1greeneyedhawk 05 Aug 2005, 11:10 AM EDT Msg. 20946 of 20947 Jump to msg. # RTQ NG. Prices rise on top of record highs, unreal. Oil also at record prices too, RTQ 61.85, again unreal. Not doubt, record energy prices will help AMEP become profitable at a faster pace. ... %^ greeneyedhawk
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 8.52 8.6 8.51 8.56 10:34 - +0.089 39709 23470 8.471 86156 Call Put Oct 05 8.58 8.63 8.57 8.6 10:34 - +0.095 22170 6534 8.505 60540 Call Put Nov 05 9.02 9.05 9 9.04 10:33 - +0.095 10877 2762 8.945 35602 Call Put Dec 05 9.43 9.46 9.43 9.45 10:34 - +0.075 4715 2743 9.375 33132 Call Put Jan 06 9.75 9.76 9.73 9.75 10:33 - +0.065 5793 2818 9.685 32593 Call Put Feb 06 9.73 9.74 9.73 9.74 10:25 - +0.067 2350 1264 9.673 20029 Call Put Mar 06 9.53 9.55 9.53 9.55 10:34 - +0.067 9228 1568 9.483 33223 Call Put Apr 06 8.29 8.29 8.29 8.29 10:29 - +0.042 2035 969 8.248 19581 Call Put May 06 - - - 8.058 - - 0 626 575 8.058 18843 Call Put Jun 06 8.12 8.12 8.12 8.12 10:26 - +0.029 29 497 8.091 7215 Call Put Jul 06 - - 8.19 8.2 10:52 - +0.062 235 166 8.138 11748 Call Put Aug 06 - - - 8.178 - - 0 699 19 8.178 9817 Call Put Sep 06 - - - 8.158 - - 0 144 240 8.158 8735 Call Put Oct 06 - - - 8.188 - - 0 1036 235 8.188 17887 Call Put Nov 06 - - - 8.531 - - 0 533 149 8.531 8759 Call Put Dec 06 - - - 8.843 - - 0 393 139 8.843 8464 Call Put Jan 07 - - 9.1 9.06 14:14 - -0.018 148 82 9.078 10196 Call Put Feb 07 - - - 9.068 - - 0 16 45 9.068 2844 Call Put Mar 07 - 8.92 - 8.92 10:27 - +0.002 232 25 8.918 6505 Call Put Jun 07 - - - 7.503 - - 0 3 50 7.503 2357 Call Put Dec 07 - - - 8.293 - - 0 3 19 8.293 3835 Call Put
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The Twilight Era of Petroleum By Michael T. Klare
Several recent developments -- persistently high gasoline prices, unprecedented warnings from the Secretary of Energy and the major oil companies, China's brief pursuit of the American Unocal Corporation -- suggest that we are just about to enter the Twilight Era of Petroleum, a time of chronic energy shortages and economic stagnation as well as recurring crisis and conflict. Petroleum will not exactly disappear during this period -- it will still be available at the neighborhood gas pump, for those who can afford it -- but it will not be cheap and abundant, as it has been for the past 30 years. The culture and lifestyles we associate with the heyday of the Petroleum Age -– large, gas-guzzling cars and SUVs, low-density suburban sprawl, strip malls and mega-malls, cross-country driving vacations, and so on -- will give way to more constrained patterns of living based on a tight gasoline diet. While Americans will still consume the lion's share of global petroleum stocks on a daily basis, we will have to compete far more vigorously with consumers from other countries, including China and India, for access to an ever-diminishing pool of supply. The Era of Easy Oil Is Over
The Twilight Era of oil, as I term it, is likely to be characterized by the growing politicization of oil policy and the recurring use of military force to gain control over valuable supplies. This is so because oil, alone among all major trading commodities, is viewed as a strategic material; something so vital to a nation's economic well-being, that is, as to justify the use of force in assuring its availability. That nations are prepared to go to war over petroleum is not exactly a new phenomenon. The pursuit of foreign oil was a significant factor in World War II and the 1991 Gulf War, to offer only two examples; but it is likely to become ever more a part of our everyday world in a period of increased competition and diminishing supplies.
*Global oil prices exceeding $150 per barrel *Gasoline prices of $5.00 or more per gallon *A spike in the consumer price index of more than 12% *A protracted recession *A decline of over 25% in the Standard & Poor's 500 stock index *A crisis with China over Taiwan *Increased friction with Saudi Arabia over U.S. policy toward Israel
The threats are getting worse each day all over the world. The changes and growing threats in Saudi Arabia can weigh heavy on the the price of oil . Between hurricanes, terrorists, India and China's booming move into the new economy, heat waves. It is sort of scary just how high oil and ng could go before all is said and done....
Fortunately inflation adjusted oil going back to the early 80's would put us at $90 oil. Hopefully the overall economy can handle that. So far so good. You can bet we jump to $70 and $80 oil AMEP will not be under 20 cents... I would bet on much higher actually...
There will be a major adjustment across the board for oil and ng stock companies, especially those micro's that haven't moved big yet. Besides each individuals companies moves upward. AMEP is way overdue for some catching up.
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