posted
FPPC is a good example to compare with AMEP to show just what can happen to a decent OTC oil stock and where AMEP can start heading.
AMEP at .019 and FPPC at $2.55 and compare news.
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.
FPPC.....
AUSTIN, Texas, Aug 01, 2005 (BUSINESS WIRE) -- FieldPoint Petroleum Corporation (FPPC, Trade) today announced its financial results for the Second Quarter ended June 30, 2005.
Financial Highlights for the Three Months Ended June 30, 2005 Compared to the Three Months Ended June 30, 2004:
-- Revenues increased 33% to $908,059 from $679,920
-- Net Income rose 365% to $280,521 from $60,258
-- Earnings per share, both basic and fully diluted, increased to $0.04 from $0.01 and $0.03 from $0.01 respectively.
The rise in revenue and net income is attributed to an overall reduction in total expenses, increases in oil and gas prices, which averaged approximately $48.16 per barrel and $4.70 per MCF in the three months ended June 30, 2005, compared to $36.76 per barrel and $3.96 per MCF in the prior year.
Financial Highlights for the Six Months Ended June 30, 2005 Compared to the Six Months Ended June 30, 2004:
-- Revenues increased 42% to $1,781,729 from $1,252,050
-- Net Income rose 210% to $524,281 from $169,070
-- Earnings per share, both basic and fully diluted, increased to $0.07 from $0.02 and $0.06 from $0.02 respectively.
For the six month period, the rise in revenue and net income is attributed to a 5% increase in production on a barrel of oil equivalent, investment income, and increases in oil and gas prices, which averaged approximately $46.74 per barrel and $4.87 per MCF for the six months ended June 30, 2005, compared to $34.89 per barrel and $4.49 per MCF in the prior year.
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