posted
I can't stress enough,I post picks way in advance and this one will be heading north fast,our economy dictates it.Get in early and lettem sit,Getting AMEP anywhere in the .02's is a steal.
NEW: Share Holder Update
American Energy Production, Inc. (OTCBB, AMEP) is an Oil and Gas Lease Acquisition Company. The Company will specialize in acquiring oil and gas leases that have potential for increased oil and natural gas production utilizing new technologies, well workovers and fracture stimulation systems.
American Energy Production, Inc., will acquire oil and gas leases that have proven reserves. The Company will initiate developmental drilling programs to drill new wells on these leases and if successful will add oil and gas reserves to the acquired property.
American Energy Production, Inc., is involved in three areas of oil and gas operations.
1. Leasing Programs. 2. Production Acquisitions 3. Drilling with new technologies
American Energy Production, Inc's., main objective is to find oil and gas leases with upside potential for enhanced production. The company does this by utilizating the following rules: 1) leases, 2) geology, 3) engineering, and 4) mapping from 3-D seismic.
American Energy Production, Inc., believes for the next generation the entire world will still run on oil and natural gas. So far, alternative fuels are still too expensive to substitute for fossil fuels. Because of the unstable conditions in the Middle East and the Arab nations, the oil and gas markets will remain stable for the next few years. The United States is so dependent on foreign oil, the Company believes any new oil and gas reserves found in America will help the country be independent and not held hostage by the Arab oil producing nations.
American Energy Production, Inc., offers the opportunity for stock investors to be part of a company that has a vision to be a partner with the United States of America to become energy self-sufficient.
American Energy Production Inc. November 30, 2004
American Energy Production Inc. on January 18, 2004 filed a form N-54 with the SEC to become a Business Development Company. A BDC company is regulated under the 1940 SEC act. That act set out procedures by which a Company once it establishes a majority position in a Company can make a series of further investments in it’s ‘investee’ A BDC company does not consolidate financial statements with its investees and each investee operates independently.
The value of a BDC is derived by adding the value of each of the investees. In the case of AMEP each investee’s oil and gas leases and producing properties and equipment will be evaluated by a petroleum engineer and then the independent members of the Board of Directors of AMEP will use this information along with other relevant facts and arrive at a value of each investee and the complete BDC.
Several other points of interest include:
1. The accounts payables listed in the 10Q filings are all aged accounts that were part of the Communicate Now.com--the predecessor company to AMEP. Management will continue to work-off these accounts payable in an orderly manner. However, AMEP does not believe it is in the best interest of the company to use funds that would otherwise be used to develop more oil and gas properties, and generate revenue, to pay these ‘inherited’ accounts payable to aggressively.
2. The payroll taxes listed on the 10-K filings are also part of the former.com Company and will be addressed as an Offer and Compromise at the direction of company lawyers.
3. The bank notes listed in the 10Q filings are also part of the former .com Company and will be addressed at the proper time.
4. The convertible debenture originally issued by AMEP to Proco Operating Co. Inc. for $2,000,000 for the purchase of 3,000,000 acres of Marble Falls, Caddo and now Barnett Shale producing oil and gas wells has been transferred to Bend Arch Petroleum Inc. This convertible debenture is not convertible until 2007. It should be noted that Johnnie Lee Bitters brother of Charles Bitters, President of AMEP, owns Proco Operating Co. Inc. Proco Operating contract operates all of the producing oil and gas wells of Bend Arch Petroleum Inc.
5. Charles Bitters, President of AMEP, has recently purchased shares in the company—see recent filings.
6. Management views AMEP as a growth company with the development of select oil and gas properties as both its short and long-term goals. The Company is very pleased with its first year growth and anticipates (assuming continued strong oil and gas prices) another year (2005) of significant increases in revenues. So that over the next 12-18 months profitability can be achieved.
7. There are currently approximately 300 million common shares outstanding; the majority of these shares have been issued over the last year in order to acquire oil and gas acreage, producing wells and investees. To the extent practicable the Company will limit the number of additional shares issued in the future. In part this will be accomplished by establishing joint interests in future property and wells that are acquired by AMEP investees.
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MINERAL WELLS, Texas, Jul 06, 2005 (BUSINESS WIRE) -- American Energy Production Inc. (AMEP, Trade) announced today its wholly owned investee, Production Resources Inc. posted positive testing results after 8 months of testing various procedures utilizing AMEP HOA 800. PRI discovered a method of well treatment that combines the utilization of heat along with AMEP HOA-800 in a chemical process that has returned positive results. PRI has increased oil production from the Olmos formation on the four test wells by as much as 300% for the month of June. Management now plans on expanding the testing area to an additional 10 oil wells in the next 30 to 45 days.
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."
posted
based on last year I think the 10-Q could be out at anytime now,last year it was released on August 17th. Its hard to believe just how overlooked and undervalued AMEP really is right now...maybe because of all the other Gas/oil plays could be a reason but they are all going to be in the works anyway. Any real Natural Gas and oil penny stocks are going to climb hard and strong in the coming months imo.
GLTA because we better make money here to offset the price we will be paying at the pump!!
posted
one day soon I hope that many will see the true value of AMEP..
By: DrillBit 08 Aug 2005, 02:44 PM EDT Msg. 21101 of 21101 (This msg. is a reply to 21098 by mrsoftee66.) Jump to msg. # TNOG is drilling in an area that I know and that area has NO RESERVES. It has flash production that PRs expound as steady. Buy that or not but it is true.
In buying any O&G company you want great management and great leases that have STAYING POWER.
AMEP is so undervalued here because of a NS. THERE WILL BE NO MORE STOCK DILUTION FOR ANYTHING!
By: mrsoftee66 08 Aug 2005, 05:13 PM EDT Msg. 21113 of 21127 (This msg. is a reply to 21112 by wildboysdad.) Jump to msg. # look at yahoo which is correct on this one.. 298 million o/s Authorized notsure but the company cancelled an offering and stated in recent PR that they are not going to issue more shares.. Raising capital other ways.. Hope that helps..
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American Energy Production,Inc. Company Profile
American Energy Production, Inc. (OTCBB, AMEP) is an Oil and Gas Lease Acquisition Company. The Company will specialize in acquiring oil and gas leases that have potential for increased oil and natural gas production utilizing new technologies, well workovers and fracture stimulation systems. American Energy Production, Inc., will acquire oil and gas leases that have proven reserves. The Company will initiate developmental drilling programs to drill new wells on these leases and if successful will add oil and gas reserves to the acquired property. American Energy Production, Inc., is involved in three areas of oil and gas operations. 1. Leasing Programs. 2. Production Acquisitions 3. Drilling with new technologies American Energy Production, Inc`s., main objective is to find oil and gas leases with upside potential for enhanced production. The company does this by utilizating the following rules: 1) leases, 2) geology, 3) engineering, and 4) mapping from 3-D seismic. American Energy Production, Inc., believes for the next generation the entire world will still run on oil and natural gas. So far, alternative fuels are still too expensive to substitute for fossil fuels. Because of the unstable conditions in the Middle East and the Arab nations, the oil and gas markets will remain stable for the next few years. The United States is so dependent on foreign oil, the Company believes any new oil and gas reserves found in America will help the country be independent and not held hostage by the Arab oil producing nations.
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