MINERAL WELLS, Texas--(BUSINESS WIRE)--Sept. 1, 2005-- American Energy Production, Inc., (OTCBB:AMEP) announced today that AMEP Strategic Investments, Inc., an investee, has purchased an 8,000 foot capacity Ideco drilling rig from Aramdrill in Mexico. This acquisition allows American Energy Production, Inc., and its' investees, Bend Arch Petroleum and Oil America Group, Inc., to redefine their long range exploration and development strategy for the 7,000 acres of Barnett Shale prospects currently owned by Bend Arch Petroleum, Inc. Charles Bitters, President of American Energy Production, Inc., said, "The Company is very excited about the acquisition of the Ideco Drilling Rig. To locate a rig of this type in the current demand driven environment is a small miracle. There just are not any rigs of this quality for sale. Because of the recent record prices for crude oil and natural gas, it is almost impossible to schedule a rig. The current rig availability is at best six months and more often than not, one year. This is the perfect drilling rig for the productions horizons the Company is interested in exploiting. "The Barnett Shale was the largest natural gas producing field in the United States last year and is currently one of the hottest energy plays in the world, attracting such companies as XTO, Devon and Quicksilver. This rig has the capacity to drill horizontal Barnett Shale wells with lateral sections of up to 3,000 feet. Bend Arch Petroleum can re-enter several Barnett Shale and Marble Falls prospects while Oil America Group is selling limited partnership drilling programs in the Barnett Shale. Now there will not be any delay while waiting for other drilling rig contractors." This drilling rig will become another significant profit center for the AMEP companies. Rigs with a drilling capacity of 8,000 feet are currently netting $10,000.00 per day. If this drilling rig operates approximately 200 days per year the gross income would be $2,000,000.00 per year. Bend Arch Petroleum, Inc., and Oil America Group should be able to participate in an additional twenty (20) oil and gas wells in the next year because of the availability of this drilling rig. Twenty new oil or gas wells producing the equivalent of only 20 barrels of oil per day would generate a gross income of approximately $6,000,000.00 per year. Initial inquiries for the Oil America Group Limited Drilling Partnership have been overwhelming. Joe Christopher and his corporate counsel have submitted the documents for final approval. They should begin taking partnership subscriptions in early September. Potential investors will be notified when the program receives final approval. For more information contact: jchristoper@oilamericagroup.com or 972-386-0601.
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" and are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risks, uncertainties, as well as other uncontrollable or unknown factors could cause actual results to materially differ from the result, performance, or expectations expressed or implied by such forward-looking statements.
Posted by rider3160 on :
should see .03 by week end atleast
Posted by JL on :
Im in Im In.......028-.03 target
Posted by nattty04 on :
You shoul see .03 by the end of today, dont kid yourself, lol. This stock is going to shoot up, and not come back down. Demand = EXTREMELY HIGH. Esecially with all things considering. 2 months from now, you will be seeing the $80-90/per barrel. AMEP is going to have there best year ever. I got in this morning, but not as much as i wanted. Just only had a 1000 in the account.
Posted by JL on :
k i took .0264 for now. Might buy back later at .023 =)
Posted by net10708 on :
Don't get stuck in this thing. It can really go down, and stay there. I wonder when this oil stock bubble will bust, and how fast AMEP will go back t0 .019
Been there. I wish you all the best on it though.
Posted by rider3160 on :
look at the volume its not going down
Posted by JL on :
tryin to get back in .0255...looks like that might have been dip
Posted by JL on :
nm...its not runnin yet. Maybe later on in day ill buy some more.
Posted by QuestSolver on :
close above .03 today and will close the week at .05's imo.People as I said,this is just the beginning of the breakout and soon every share under a dime will look like a steal.These figures below are facts.
AMEP CURRENT VALUATION 18 CENTS/SHARES--READ HERE
By: kipperca 01 Sep 2005, 04:28 AM EDT Msg. 23184 of 23373 Jump to msg. # AMEP MORE ROCKET SCIENCE
this is only ONE of the oilfields AMEP OWNS...
the KIRK FIELD
PROVEN OIL RESERVES
Discounted FNI @ 10%------$26,777,850 million
GUESS WHAT?
time for more ROCKET SCIENCE !!!
SO THAT ONE FIELD ALONE HAS PROVEN RESERVES worth
$26,777,850
but that was using the oil price OF DEC 31 ST 2003
WHICH WAS
Dec. 2003's daily average price $32.12
The estimated reserves and future income amounts presented in this report are related to hydrocarbon prices. Hydrocarbon prices in effect on December 31, 2003 were used in the preparation of this report as required by SEC rules; however, actual future prices may vary significantly from December 31, 2003 prices.
Future Net Revenue $59,971,644--- MILLION
Deductions --------$22,099,575
Future Net Income (FNI) $37,872,069
Discounted FNI @ 10% $26,777,850
AUG 2005 OIL IS $69 DOLLARS OVER DOUBLE!!!!
SO INSEAD OF THE FIELD BEING WORTH 27 MILLION ITS NOW WORTH OVER
54 MILLION US DOLLARS AS OF TODAY!!!!
WHATS THE ONE FIELD WORTH PER SHARE????
300 MILLION SHARES /54 MILLION DOLLARS = 0.18 CENTS A SHARE
330 MILLION SHARES /54 MILLION DOLLARS = 0.164 CENTS A SHARE
400 MILLION SHARES /54 MILLION DOLLARS = 0.135 CENTS A SHARE
500 MILLION SHARES /54 MILLION DOLLARS = 0.10 CENTS A SHARE
this is just a shake it will run hard and close at the hod
Posted by QuestSolver on :
these dips are almost too punctual!!! look for pull back to low .023's and maybe they will try to cause a panic and take it to .022's or so,thats what they do and they are good at it,don't be fooled!Lunchtime now! I know that dip cannot be over??? Simply shares are far too scarce!
Posted by JL on :
aIte...im accumulating for 2-3 day run on this one. Stock is officially undervalued imo. Valuation wise this should run...forget the fact that its near trading its float. with the huge volume. So i welcome weak hands who want to sell me shares cheap. .03+ new valuation shortterm Longterm .07
Posted by QuestSolver on :
lots of eyes on this puppy,if this does break into the 3's or 4's today expect some BIG pockets to step up.People you better get ready for the winter months ahead,watch where natural gas and heating oil goes!Natural gas is AMEP's primary target and all the oil has been a major bonus!
By: roguewavetx 01 Sep 2005, 12:22 PM EDT Msg. 23457 of 23460 Jump to msg. # I don't know whether this company is for real or not. I personally haven't gone out to "kick the tires" so to say. What I do know is that it would take all of about $9,000,000+ to buy the entire float of this company at .03 cents per share.
There are literally TRILLIONS of dollars as represented by hedge funds and long term speculators looking for a home where real value can be found. You know, the kind of value represented by too many dollars chasing too few real physical goods(it's easier to create dollars then pump oil out of the ground).
What is going to happen in the oil & gas sectors is going to make the "dot com" scheme look like romper room in comparison.
Got oil?
By: trade04 01 Sep 2005, 12:29 PM EDT Msg. 23463 of 23464 Jump to msg. # AMEP----And where its Headed
AMEP keeps building and making higher lows. Momentum is positive. 52 week high is a distance away. The amount of shares traded says this stock is in teh hands of a lot of people and they will get the word out. OIL IS HOT and will get only HOTTER. .07-.08 shorterm target . 12-.15 Longer term
Posted by QuestSolver on :
for newbies that are not really aware of AMEP-heres another post and its no surprise that many think like this,no this is not to good to be true,it really does happen so don't miss it.
By: frogger10101 01 Sep 2005, 01:51 PM EDT Msg. 23514 of 23518 Jump to msg. # This is why AMEP going over $1 pps news this morning here:
"The Barnett Shale was the largest natural gas producing field in the United States last year and is currently one of the hottest energy plays in the world, attracting such companies as XTO, Devon and Quicksilver. This rig has the capacity to drill horizontal Barnett Shale wells with lateral sections of up to 3,000 feet. Bend Arch Petroleum can re-enter several Barnett Shale and Marble Falls prospects while Oil America Group is selling limited partnership drilling programs in the Barnett Shale. Now there will not be any delay while waiting for other drilling rig contractors."
This drilling rig will become another significant profit center for the AMEP companies. Rigs with a drilling capacity of 8,000 feet are currently netting $10,000.00 per day. If this drilling rig operates approximately 200 days per year the gross income would be $2,000,000.00 per year. Bend Arch Petroleum, Inc., and Oil America Group should be able to participate in an additional twenty (20) oil and gas wells in the next year because of the availability of this drilling rig. Twenty new oil or gas wells producing the equivalent of only 20 barrels of oil per day would generate a gross income of approximately $6,000,000.00 per year.
More information on the Barnet Shale. I really like the part about "One Trillion Cubic of Natural Gas every seven square miles". I have seen more recent updates that put this number at multiples higher than this!!! Like I said, this is just the start of something VERY VERY BIG!
INVESTORS TAKE NOTE This Is Unlike Any Other Play I Have Worked In Almost Two And A Half Decades In The Oil & Gas Industry
Drill a well in this Barnett Shale pool expecting a good, solid well and one is more likely to get an excellent, far superior well. Some Barnett Shale wells have an expected 40-year life of commercial production! Incredible!
In Palo Pinto County a well was completed naturally, for 300 MCFGPD, and 1200 psi, SI, without a frac. This is a major discovery! Nearby, other wells are producing 252 BO plus 701 MCFGPD flowing, with no water! More wells are producing 400-500 BOPD, with 2,000+MCFGPD! It is estimated that the shale in HOOD Co., TEXAS alone has an average hydrocarbon reserve of "One Trillion Cubic of Natural Gas every seven square miles"…Phenomenal! The Granbury Texas newspaper reported, "Hood County Texas is building a gas gathering plant to handle 3 trillion cubic feet of gas". This is a $15,000,000 gas plant and only one of several to be built at this time. While some independents are creating wells by just drilling straight through the pay, they are missing golden opportunities that new "Horizontal Drilling" can provide.
I plan to drill down to the top of the pay zone ranging from 4,500' to 8,500', then drill 2000' to 5000' horizontal sections to stimulate up to 5 to 10+ times more gas and oil than what a vertical well can produce.
Posted by BeginnersLuck on :
just picked up some more shares on the dip
Posted by ehya the fisherman on :
..
Posted by ehya the fisherman on :
What causes this company, AMEP, to be at .02 pps and a company in the same industry, such as PXD, to be worth 55 pps?
Posted by BeginnersLuck on :
When do you think a good exit point is going to be?
Posted by JL on :
AMAZING
Posted by rider3160 on :
i would not sell for a while do you see how high gas is and then wait until they report about the other wells
Posted by JL on :
id be selling into strength fellas
Posted by JL on :
id take .0295-.0298 and be safe...and buy back .031 tomorow while its running..instead of watching .0295 turn into .026 again.
Posted by QuestSolver on :
now I understand why Joe Christopher from Oil America Group talked to me about the AMEX and AMEP.I posted the conversation a few pages back,we may just have one here that has the big boards in their sights now.If these volume stays the same and with 80% buys coming in this could actually hit .04 in the next 30 minutes.
Posted by TampaInvester on :
This stock is going crazy 0.033 now..The whole world is in now. we may see a CXTI like run tomorrow
Posted by QuestSolver on :
Tampa...look for more of a QOIL run here imo,for anyone not in imo you should set you buy before open a few tenths above ask,the only dip we got this AM was a dip of a couple of tenths after it opened much higher on the gapper.this is not a typical 3 day percentage gainer,its already passed that mark,this is the long slow climber and imo will be trading at .50 or higher within a few months but definitely before Christmas and with winter right around the corner this is one to have and hold!
Posted by QuestSolver on :
National guard have been giving "shoot to kill"if needed orders per Fox News and if there is an oil refinery burning you can bet homeland security is going to be pushed hard!
Posted by bfthunter on :
QuestSolver, What charts (if any) do you use. There are several internet sites ive been researching in my spare time. Any suggestions and what do you look for. You seem to have great insite. Glenn
Posted by Kalorian on :
In again hopefully getting the .0298 price on open before it soars from morning buyers.
Quest - how fast are you expecting this stock to climb?
Posted by QuestSolver on :
Kalorian....slow and strong and steady I hope but with this oil crisis its a hard call because for those with deep pockets they must have had radars going off left and right yesterday on AMEP's volume and will want in NOW! This is a well established ONG company with outstanding managent that imo will make this company succeed and after speaking with Joe Christopher directly I do believe they have the AMEX in their targets sites.
Posted by QuestSolver on :
THIS IS GAPPING ALREADY!!! I never seen this do that before and so early!! up to .031 right now,if this opens at .04 I will chit!!
Posted by rider3160 on :
.0325
Posted by Kalorian on :
Yep my order is still open and the price is .0325 now. Volume is low still hoping to get in before this thing takes off more.
Posted by QuestSolver on :
Etrade having problems!!! last seen .033 and now I believe Etrade went down!!
Posted by Kalorian on :
its at .03 a share now.
Posted by Kalorian on :
volume just jumped to 6 mil
Posted by G_Ho on :
what does everyone think about the charts?
Posted by Kalorian on :
still learning how to read the charts, but from all the news QuestSolver posted yesterday and the news today I think this is a good long term stock to sit on. Of course unless anything different starts happening in the oil/gas industry which I doubt so far.
Posted by QuestSolver on :
20mill any minute.If your not holding you might want to get in ASAP before regretting it when you see it around October or so.
Posted by JL on :
hopped out .0329 for a minute. Might buy back. Or just enjoy my long weekend early.
Posted by damoc1 on :
Quest Solver do you see this as a possible long termer as well? if so what price can you see this going to within the next few months??
Posted by QuestSolver on :
damoc I see mid term at .50 or higher,watch the numbers in the next 10-q or just use the production numbers in the recent 10-q and use todays figures and you will see why I aim high here.
any one who may have a weak stomach...today may get more radical then most of you have ever seen,they may try and swing this all over imo to try and shake out any weak hands and it can get ugly. One case in particular was when I played MXR a few years ago,the MM's dropped it from .19 to the single digits of .03's in less then an hour!!! Everyone freaked out and could not sell quick enough....a couple of hours later (just before lunch if I remember correctly) it broke thru .26....I tell ya...many went into cardiac arrest that day!LOL They changed to RCO and I don't know what they are doing now.More recently this last fall I watched MBAH drop from .09 to .012's in less then two trading sessions only to recover and run to .42ish that week,I won't touch that one now for management reasons.What I am trying to say is if your going to watch today have Rolaids ready and on stand by...but who knows....it could simply be civil and climb like a good little stocky....LOL
we'll seen soon eh? the reason we may get some major swings today is that we have a couple of things working against us that could cause swings and the MM's will use them to their favor.
1) Its Friday,most DT's (day traders) take cash exits usually before 3pm
2)Its a 3 day weekend with a Market open on Tuesday,this causes some normal investor/traders to exit for cash who would not sell on an ordinary weekend.
In our favor....
1) we are in the best sector hands down.
2) anywhere at these levels is a good entry price.
3) The price of Oil/gasoline and natural gas will continue to go up especially on a holiday weekend
4)we are on the best piece of real estate in the country right now.
Posted by QuestSolver on :
and the swing is underway!!watch for .027's for the freak out moment! it won't last long imo,the market monkeys need to rattle the cages to maybe shake out the DT's early!
Posted by Kalorian on :
yep... definently going to have to distract myself with as much work today as possible.. price is dropping fairly fast.. hope it rebounds before the weekend hits Posted by Peaser01 on :
I'm a buyer at .0025
Posted by QuestSolver on :
many hit the exit way too early on the morning dip..oh well thats what the MM's wanted.
Posted by Kalorian on :
If I knew this was coming I would've waited instead of entering the bulk of my money at .0305 this morning and got in about now . I am sure either way I will be in the green in the coming weeks.
Posted by Joel on :
Now at .0256 BOUGHT A SMALL AMOUNT AT .0305 BUT GOT OUT WHEN IT HIT .029 I GUESS THE VIEW TO "TAKE OFF" WAS COVERED BY CLOUDS.
Posted by QuestSolver on :
Kalorian...you'll be in the green today imo.As I said early have your Rolaids handy today,the MM's will shake hard to get shares and try to move the DT's out early!
Posted by Peaser01 on :
I got my fill. Let's hope that it keeps climbing today. It should take off again on Tuesday.
Posted by JL on :
Looks like I did well after all =) Sold .0329 bought back .026. And back out .0285. See yall Tuesday.
Posted by QuestSolver on :
watch for massive buying before close...might not hit .05 today but it could easily break out and into .04,almost 65mill before lunch.
Posted by Kalorian on :
Just want to get back in the green. I saw green for a split second this morning and it went back into the red not too bad though.
Looking forward to the run this afternoon.
Posted by pensandoenti67 on :
ILCO going to be a 5x bagger very soon
Posted by QuestSolver on :
I expect that the most buying will occur after 3pm,smart money does not want to be OUT of AMEP Tuesday at open.
Posted by Kalorian on :
Well I sure hope so, the price is lower than what I started watching this stock at . I have faith in it going back up though. For the most part anything with a solid background in this industry has to be a good buy especially this low.
Posted by QuestSolver on :
past few minutes have shown a steady rise.. but I could jinx it lol.
Posted by Kalorian on :
.027 and climbing Posted by QuestSolver on :
looks like the market monkeys are trying to manipulate all the oil stocks...think about it...why would oil and gas stocks be dropping now?
OMOG,TNOG,QOIL,AMEP...etc.....
they know money will be raked in for all of these and they are working the traders now!
Posted by Kalorian on :
54 Minutes until QuestSolvers prediction of mass buying. .0268 right now i believe.
Posted by Kalorian on :
diving again... .0256... 23 minutes until 3pm. Waiting and Watching.
Posted by QuestSolver on :
By: 1greeneyedhawk 02 Sep 2005, 02:20 PM EDT Msg. 24333 of 24345 Jump to msg. # I don't post while I'm in the market. I will post a DD series over the long weekend. I still have every share accumulated over the last year and a half. I think some have already forgot that yesterday's news entirely changes the dynamics for AMEP. They now have a Big Rig to develop the 7,000 acres of a 100% blanket formation of the Barnett, +300' thick. How many high production Gas and Oil well can you drill on 7,000 acres. My guess is 80 acres per well, some say 40, 160 would still be great. Do the math: #wells X NG X Oil the Market Cap and resulting SP is tiny. It is still early on the SP. GL all longs. ... %^ greeneyedhawk Remember this from yesterday, ...it changes everything:
American Energy Production, Inc., Announces Purchase of Oil Drilling Rig by Investee Thursday September 1, 9:00 am ET
MINERAL WELLS, Texas--(BUSINESS WIRE)--Sept. 1, 2005--American Energy Production, Inc., (OTCBB:AMEP - News) announced today that AMEP Strategic Investments, Inc., an investee, has purchased an 8,000 foot capacity Ideco drilling rig from Aramdrill in Mexico. This acquisition allows American Energy Production, Inc., and its' investees, Bend Arch Petroleum and Oil America Group, Inc., to redefine their long range exploration and development strategy for the 7,000 acres of Barnett Shale prospects currently owned by Bend Arch Petroleum, Inc.
Charles Bitters, President of American Energy Production, Inc., said, "The Company is very excited about the acquisition of the Ideco Drilling Rig. To locate a rig of this type in the current demand driven environment is a small miracle. There just are not any rigs of this quality for sale. Because of the recent record prices for crude oil and natural gas, it is almost impossible to schedule a rig. The current rig availability is at best six months and more often than not, one year. This is the perfect drilling rig for the productions horizons the Company is interested in exploiting.
"The Barnett Shale was the largest natural gas producing field in the United States last year and is currently one of the hottest energy plays in the world, attracting such companies as XTO, Devon and Quicksilver. This rig has the capacity to drill horizontal Barnett Shale wells with lateral sections of up to 3,000 feet. Bend Arch Petroleum can re-enter several Barnett Shale and Marble Falls prospects while Oil America Group is selling limited partnership drilling programs in the Barnett Shale. Now there will not be any delay while waiting for other drilling rig contractors."
This drilling rig will become another significant profit center for the AMEP companies. Rigs with a drilling capacity of 8,000 feet are currently netting $10,000.00 per day. If this drilling rig operates approximately 200 days per year the gross income would be $2,000,000.00 per year. Bend Arch Petroleum, Inc., and Oil America Group should be able to participate in an additional twenty (20) oil and gas wells in the next year because of the availability of this drilling rig. Twenty new oil or gas wells producing the equivalent of only 20 barrels of oil per day would generate a gross income of approximately $6,000,000.00 per year.
Initial inquiries for the Oil America Group Limited Drilling Partnership have been overwhelming. Joe Christopher and his corporate counsel have submitted the documents for final approval. They should begin taking partnership subscriptions in early September. Potential investors will be notified when the program receives final approval.
FYI... %^ greeneyedhawk
Posted by QuestSolver on :
DEDHAM, Mass.--(BUSINESS WIRE)--Sept. 2, 2005--As ARC Advisory Group has already seen from the significant price increases at the pump, Hurricane Katrina is going to have a significant and lasting impact on the US oil and gas industry. The Gulf Coast area is the hub of American refining and petrochemicals. Currently in the Gulf Area there are nine refineries shut down, with a total capacity of about 1.8 million barrels per day (BPD) of crude. This represents about 11 percent of total US refining capacity. Aside from refineries, midstream facilities (primarily pipelines) are also affected for both crude and finished products. Other refineries are reducing crude runs because of pipeline outages on both the crude or finished product side. These additional refineries include 4 or 5 fair sized Midwest refineries.
It will be difficult for US refiners to make up lost production, because they have been running at close to absolute maximum capacity rates for some time. Year-too-date capacity utilization rates for refineries has been over 93%, and the higher demand and summer production rates have resulted in refineries running more in the area of 97 to 98 percent.
The US imports considerable finished products, such as gasoline, as well as. Should US refining capacity face a prolonged reduction, increasing these imports of finished products is an option, but even this will be subject to possible limitations from the pipeline outages. Releasing the Strategic Reserve, which has already been put into motion, will aid refineries that would have to reduce throughput because of a crude shortage, but would not help those refineries that face product pipeline outages. So far, three refiners have requested access to the strategic reserve. It should also be noted that the EU has offered to release oil from the strategic reserves of member nations.
Gulf of Mexico (GOM) Statistics in the Wake of Hurricane Katrina
GOM Crude Production (1,000 b/d) 1,527 GOM Crude Production Shutdown (8/31/05) 1,451 GOM Crude Production Shutdown (% of US Crude Production) 27% Capacity of Gulf Refineries Shutdown (1,000 b/d) 1,800 Capacity of Gulf Refineries Shutdown (% of US Refinery Runs) 11.3% US Crude Inventories (1,000 b) 195,000 US Gasoline Inventories (1,000 b) 380,000 Number of Days Gasoline Supply from Existing Inventories 40.1 Number of Days Crude Supply from Existing Inventories 12.6
(C) 2005 ARC Advisory Group
Crude Production Impact
About 28 percent of the US crude production comes from the Gulf of Mexico basin (GOM), and almost 95% of that production was shutdown because of the hurricane. These facilities are being ramped up slowly, and many companies are still surveying the damage that has been done, but many of the early reports from offshore production platforms are better than expected. Some exploration rigs were damaged or broke free from their moorings during the storm, but no production rigs have been reported missing or repositioned. It will probably be at least a week before the real damage is assessed.
Even without the impact of Katrina, the US petroleum market is engaged in a trend that is seeing gasoline demand increasing about 5% over last year but a decreasing supply of crude from domestic sources. We face a similar net shortage in the natural gas market as well.
Posted by Kalorian on :
Not sure if this is helpful but pulled it off CNN Business,
------
Experts: $4 a gallon gas coming soon Pricing analysts say consumers can expect even higher prices at the pump. August 31, 2005: 4:11 PM EDT By Grace Wong, CNN/Money staff writer
NEW YORK (CNN/Money) - Consumers can expect retail gas prices to rise to $4 a gallon soon, but whether they stay there depends on the long-term damage to oil facilities from Hurricane Katrina, oil and gas analysts said Wednesday.
Just posted an excerpt of the headlines. Provided the link for further reading.
The only thing I've heard today besides this is that the price per barrel dropped a dollar today.
Posted by Kalorian on :
3pm, waiting and watching Posted by bond006 on :
what is going to happen at 3pm
Posted by QuestSolver on :
the market makers are clearly hold not only AMEP down but virtually all the oil and gas stocks!!!! The only logic for that is they know whats coming soon!!!The trading pattern has been disrupted and shows pure signs of manipulation.
not sure at the moment but I believe all gas pumps are going to be shut off for 2 days...waiting for confirmation now.
I've been trying to get more on the dip the buy orders just don't go through
Posted by TampaInvester on :
picking up..some huge buys going through. this should close strong
Posted by Kalorian on :
Thats what I want to read
Definently want to finish in the green this weekend.
If the pumps are closed for 2 days I am assuming AMEP would rise just as much?
Posted by Kalorian on :
price still being held down. Any chance it will break .03 or will that be next week? Posted by BeginnersLuck on :
well I don't think it's gonna break .03 today
Posted by QuestSolver on :
With all the exits Friday due to a typical MM panic program many are going to want to get back in ASAP imo,no logical or even statistical reason for and ONG stock like this to stay down,the OS is very low (under 330m),debt now is next to nothing per last 10-q and revs are up and if you calculate equal production with todays oil/gas figures the next 10-q will quadruple revs at least imo.The Market monkeys were clearly putting downward force on many oil and gas stocks yesterday....they will not be able to to that much longer simply based on our oil/gas situation.I am wondering if they actually exposed short positions in many of these ONG stocks and had to make sure they didn't take off yet.There was no logic behind it at all!Next week will be extremely active imo in all the ONG's imo.
Man's technical ingenuity has collided with nature's rage in the Gulf of Mexico, and the outcome has been an integrated energy disaster. The full scope will not be understood until the waters recede, the damage to platforms and refineries is assessed, and the extent of damage to underwater pipelines from undersea mudslides is determined. Yet what has happened is on a scale not seen before, and the impact of the price spikes and dislocations will roll across the entire economy. Even as we confront the human tragedy, the consequences will also force us to think more expansively about energy security, and to focus harder on a matter which other events have already emphasized: the need for new infrastructure and investment in our energy sector.
What makes it an integrated crisis is that the entire energy supply system in the region has been disabled, and that the parts all depend upon each other for recovery. If the next weeks reveal that the losses are as large as some fear, this would constitute one of the biggest energy shocks since the 1970s, perhaps even the biggest. Unlike the crises of the '70s or the Persian Gulf crisis of 1990-91, this does not involve just crude oil: It includes natural gas, refineries and electricity.
The 1.5 million barrels of oil production capacity that has been "shut in"--closed down--is much less than was lost to the market when Saddam invaded Kuwait. But although it has received less attention, 16% of U.S. natural gas is also shut in; and 10% of our refining capacity is under water at a time when there is no slack at all in the world's refining system. The electric and natural gas distribution system in the region has also been knocked out.
Posted by BuyTex on :
Quest, love TX plays...see my handle...know the Barnett shale well
However, isn't this a huge one to move? Watched the buying Friday...wasn't that spectacular volume?
What's the OS and float? can't seem to find it... thanks in advance
Posted by Peaser01 on :
Tex, Friday most people were in profit taking mode when the stock broke .032-.033. It retraced as I was hoping it would to buy in. This was up four days prior to Friday, it was due for a minor slow-down. My belief is that this will take off again this coming week.
Posted by BuyTex on :
Pease...
thanks for the info...still wanting OS/float...
appreciate your post, newlywed--blesssings to you!
Posted by QuestSolver on :
BuyTex....OS per last 10-q is slightly over 302 mill and the last float numbers were around 70 mill but I cannot confirm that figure,no matter what this one is severly undervalued,after all since you know the area..what do you think 7000 acres are worth in Barnet...$6 to $10 mill sound about right?Not to mention various other Texas properties that you can easily DD from the SEC filings and PR's.
The basic fundamentals without any production numbers should be between .10 to .18 a share per many traders/investors.AMEP really don't need to even drill one single well,their prime acreage and rigs for lease will make them worth a ton!BUT..they are drilling and they are in fact pulling natural gas and oil right now.
By: follow 04 Sep 2005, 10:59 AM EDT Msg. 24574 of 24574 (This msg. is a reply to 24566 by oldrastaman.) Jump to msg. # oldrastman..nothing to explain here..AMEP did win the lottary, all big boys, shell oil company etc.-posted here- want to get what AMEP has,AMEP bought the big rig to drill the oil, gas..
even AMEP DOES NOTHING, they have 7000 acres lands, big rigs to lease to make nice money..whereever you look at AMEP, it is a WIN WIN for company and share holders..
people still questioning little thing about AMEP..
HEllOOO..AMEP share price is not $1, $2 a shares..only 0.027 a shares.. we should be LUCKY to find this with this price..
plus, how do we know in a month or two, you may get good drilling news from AMEP..so, do you think that AMEP will trade 0.10, 0.20 a shares when it happens..look for over 0.50, $1 a shares..thatsMHO..
so, stop complaing little things, look at the BIG PICTURE here..
By: 1greeneyedhawk 04 Sep 2005, 12:03 AM EDT Msg. 24564 of 24574 (This msg. is a reply to 24546 by 1greeneyedhawk.) Jump to msg. # "Bend Arch Petroleum, Inc., and Oil America Group should be able to participate in an additional twenty (20) oil and gas wells in the next year because of the availability of this drilling rig."
Think about it, ...do the simple math. Good luck and DD all. ... %^ greeneyedhawk
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy
Posted by BuyTex on :
ya, *do* know the area, well. Good stuff; wells popping up all over in my neck of the woods...
I'm not wild about the float...seems to take a lot of buys to move it. BUT, I am very interested. Next chance I get, gonna run over and have a chat with them...
Thanks for the reply and good info...
Posted by QuestSolver on :
BuyTex.....I spoke with Joe Chrostopher from the Oil America Group last week, he was extremely optimistic with upcoming events.Maybe you will get to speak to Mr.Bitters himself,he seems to be the real deal in Oil and Gas,ole school type from what I hear.Let us know what is said if you don't mind,there are a few on the other board that has had lunch or dinner with the crew there.
Posted by BuyTex on :
Quest, will do. In fact, will post before i visit in case anyone wants to send specific questions...
Posted by QuestSolver on :
some more good post from the other board and let me tell ya,I am glad to be a member here instead of there,the bashers are going nutson the AMEP board!!And its quite evident that there are at least 2 direct oil and gas posters on that board who supply some outstanding insight.
By: walldog0 05 Sep 2005, 08:18 AM EDT Msg. 24673 of 24683 Jump to msg. # Here's and Ideco H35 rig for sale....
in the Texas area.I don't know if this is the same type of rig that AMEP just purchased,but it fits the description on drilling depths.(I know zip about rigs,however)
Page down to the bottom of the link....its been refurbished,and there are photos of it.
There is also a phone # to ask for more info....maybe someone in the business,down in the area could find out what the asking price is.
Maybe its the actual rig that AMEP just bought....who knows, worth a try.
By: 1greeneyedhawk 05 Sep 2005, 04:58 AM EDT Msg. 24666 of 24683 Jump to msg. # When checking out any Oil and Gas stock, be sure to notice the NWI (net working interest) they get on each well. That goes for AMEP too. It is typical for these small companies to share drilling cost with other companies, ...and share the NWI. That said, the 100% NWI that AMEP has on it's wells so far by remaining independent, is one of the reasons I am here. The next two horizontal wells, AMEP's first, will be 100% NWI for AMEP too, and should produce substantial revenues if they produce like typical Barnett Shale horizontal wells. I also like the AMEP's wholly owned OAG deal, where investors will put up the retail cost to drill three horizontals wells on AMEP leases, and AMEP and it's shareholders take none of the risk or costs, but gets 25% NWI, after the drilling costs. Plus it will be AMEP's owned Ideco rig making the drilling profits. A good deal for AMEP shareholders, with 25% NWI of 3 wells that are likely to produce 20-30 years per the DD. Barnett wells also come back to near original production when re-fraced, per numerous DD sources including Devon, the big dog in the Barnett Shale. AMEP will also benefit from wholly owned OAG's 3 horizontal wells, that will likely be somewhat exploratory by being on different leases, or spread apart in the 7,000 acres the Bend Arch has over the Barnett formation. I believe that at some point CB will be able to mostly drill all 100% NWI wells with Bend Arch until the 7,000 acres is completely developed, supported by Bend Arch's Oil and NG revenues, that will only increase with each well completed, and put on line. Now that AMEP has it's own big Ideco Rig, the way to profitability is very clear ...and that is a lot of Oil and NG wells that will cover 7,000 acres of the Barnett.
Below is a FieldPoint (FPPC, closed $3.09) announcement, where they have 10% NWI in a well. I found this to be true quite often in my DD of small Oil and NG producers. This is just an example:
FieldPoint Petroleum Corporation Updates Drilling Activities Tuesday August 23, 7:06 pm ET
AUSTIN, Texas--(BUSINESS WIRE)--Aug. 23, 2005--FieldPoint Petroleum Corporation (OTCBB:FPPC - News) today announced that the Company and its partners are currently drilling the Mercury Fee #1 in Eddy County, New Mexico to a total depth of 12,900 feet. The Company is targeting the Morrow formation, and as of today drilling depth of approximately 10,000 feet has been reached. FieldPoint will have a 10% working interest in the well. Assuming the Mercury Fee #1 well finds certain expected targeted zones, we anticipate additional wells could be drilled.
FYI... %^ greeneyedhawk
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)
Posted by Kalorian on :
Morning all,
Hope everyone had a good weekend. Looking forward to seeing how this stock performs today Posted by QuestSolver on :
shaking at the open on low volume.
Posted by BeginnersLuck on :
What do you think happens today?
Posted by Peaser01 on :
Turning nicely. Moving up now.
Posted by QuestSolver on :
looks like many fell for the shake,I do believe they are going to be disappointed soon.
By: zigbee 06 Sep 2005, 10:14 AM EDT Msg. 24814 of 24820 Jump to msg. # Current leases alone make AMEP worth 0.10+. Once the rig gets going and more wells come online this will be huge. IMO. Good luck longs and buy on any dips the MM's will give you!
By: cbloxham 06 Sep 2005, 09:59 AM EDT Msg. 24800 of 24815 (This msg. is a reply to 24795 by newport2kona.) Jump to msg. # Most of this morning's slide was the momo crew over at IHub. The good thing is that the last time shakerz told his people to buy AMEP and then sell, the price utterly collapsed. This time when they sold to get into another of his plays, AMEP is rebounding. It shows that what is going on here is due to a number of factors - not the least of which is the rig.
(Voluntary Disclosure: Position- Long)
By: frogger10101 06 Sep 2005, 09:57 AM EDT Msg. 24799 of 24815 Jump to msg. # CNN and MSNBC both said gas will be over $6/gallon in a few weeks. Hurry, AMEP pps over .50!!!!
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)
Posted by Peaser01 on :
.035+ is possible today.
Posted by QuestSolver on :
By: frogger10101 06 Sep 2005, 10:26 AM EDT Msg. 657329 of 657342 Jump to msg. # AMEP: how much are you willing to pay? $70 - $100 a barrel? AMEP pps over .50
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)
Posted by BeginnersLuck on :
Well today has sucked..don't think it's gonna hit the .035 today.
Posted by QuestSolver on :
Katrina expected to cause big spike in natural gas prices
HOUSTON -- U.S. natural gas prices may rise after hurricane Katrina shut platforms in the Gulf of Mexico, reducing the amount of fuel available to be stored for winter heating, a Bloomberg News survey indicates.
Ten of 16 traders and analysts, or 63 per cent, said New York Mercantile Exchange gas futures will increase this week, according to a survey this past Friday. Four poll respondents said prices will fall, and two predicted little change.
Katrina forced producers and drillers to evacuate and shut offshore gas platforms a week ago, curtailing almost 80 per cent of capacity in a region that accounts for 24 per cent of U.S. output. Gulf of Mexico natural gas production remained about 58 per cent below normal as of Friday, according to data released by the U.S. Minerals Management Service.
"I can't see the lost production being restored fast enough to reverse prices," said Michael Fitzpatrick, vice-president of energy risk management with Fimat USA Inc. in New York.
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Mortgage Rates Compare national rates by lender: See Chart Gas for October delivery rose 19 per cent last week to $11.691 (U.S.) per million British thermal units because of Katrina. Prices have climbed 90 per cent year to date. The Bloomberg survey correctly predicted the direction of gas prices six out of the past 16 weeks.
Between April and November, U.S. utilities and manufacturers put natural gas in the more than 400 underground storage caverns and reservoirs. The fuel is withdrawn during the winter, when demand exceeds production and imports.
Hotter-than-normal weather reduced the pace at which gas was stored in this summer, even before Katrina cut output. Air conditioner use boosts demand for electricity from gas-fired generators.
Such demand throughout the United States has run 14 per cent above normal since early April, according to population-weighted data from the National Oceanic and Atmospheric Administration.
Katrina is stirring concern about winter supplies, said economist Jason Schenker at Wachovia Corp. in Charlotte, N.C. The market may rise "on the back of inventory data that may be more fundamentally bullish for prices than the market currently is pricing in."
"We have a surplus of natural gas in inventories," said analyst Joseph Allman at RBC Dominion Securities Inc. in Houston, referring to an excess of gas in storage compared with the five-year average for this time of year. But that surplus is dwindling, and it will be a deficit by the time the withdrawals for winter heating needs begin, he said.
Traders will be watching how long it takes for production to recover. While U.S. officials are releasing crude oil from the U.S. Strategic Petroleum Reserve, there is no similar government reserve for natural gas, says Sanford C. Bernstein & Co. analyst Neil McMahon.
The loss of natural gas from Katrina will be particularly bad because of flooding of onshore gas processing plants, Mr. McMahon wrote in a recent note to clients. Damage to an offshore hub and the time lag for bringing more liquefied natural gas to the United States on tankers may also boost U.S. gas prices in coming weeks, he said.
"Natural gas isn't going to get any help from overseas," said Guy Gleichmann, president of United Strategic Investors Group in Hollywood, Fla.
Bearish poll respondents said each new report of production coming back on line will bring pressure for prices to decline.
"The market has factored in a lot of damage beforehand, in anticipation this storm will equal or exceed damage caused by [hurricane] Ivan," said analyst Carl Neill at Risk Management Inc. in Chicago. "Prices may fall as reports come in."
For prices to rise much higher, traders must see either increased demand or evidence that production or pipelines out of the Gulf aren't coming on line fast enough, said John Person, president of Nationalfutures.com Advisory Services Inc., an investment adviser and researcher in Palm Beach, Fla.
Posted by QuestSolver on :
wake up people,these oil and gas issues are not going away...AT ALL unless another alternative comes into play and even then predication claim it will take over a decade to incorporate the new source since new vehicles must be developed and older ones need retrofit kits and so on.Winter is not even here yet and we are only in year two of 8 of increasingly worst winters per many scientist and far worst summer storms also with more hurricanes.I forgot the name of this Earth cycle but its been mentioned over the past 2 years.
Mutual Fund Oil and gaz analyst, Peter Linder, advisor of DeltaOne Energy Fund, predicts an $80 barril price by end of year, and a $15 for NG. He is the same guy that predicted $70 a barril 6 monts ago....See the interview and rationale at:
click on the 1:50pm video clip.
Posted by QuestSolver on :
Some Gulf oil operations recover; natural gas still a worry By BRAD FOSS/The Associated Press
NEW YORK — The gradual recovery of some Gulf Coast petroleum operations hobbled by Hurricane Katrina helped send oil futures sharply lower on Tuesday and analysts predicted that pump prices, now averaging more than $3 a gallon, would begin to decline.
But another financial pinch shaping up for U.S. consumers and businesses in the months ahead is the high price of natural gas, analysts and industry officials said. And with oil prices still trading close to $66 a barrel, European and Asian economic leaders warned Tuesday that their economic growth was likely to slow.
In New York, light sweet crude for October delivery fell $1.61 to settle at $65.96 a barrel on the New York Mercantile Exchange, which was closed Monday for Labor Day.
Crude futures, which briefly topped $70 a barrel last week, fell $1.90 on Friday, when industrialized nations announced plans to supply the U.S. with 2 million barrels per day of crude oil, gasoline and diesel — an amount roughly equivalent to 10 percent of its daily demand.
Gasoline futures plunged by 12.87 cents to settle at $2.055 a gallon on Nymex on Tuesday, but that still leaves them up about 7 percent since Aug. 26, before Katrina struck.
At the retail level, “we’ll go below $3 a gallon, but not by much,” said oil analyst John Kilduff at Fimat USA in New York.
Refco Group Inc. oil analyst Marshall Steeves said the drop in wholesale gasoline prices “will take time to filter down.”
While oil pipelines, import terminals and some refineries shut down by Katrina have restarted operations, four damaged Gulf Coast refineries look likely to remain shut for weeks and possibly months, analysts said.
The emergency supply of refined products coming from Europe will help, analysts said, but it will be more than a week before shipments begin arriving and inventories of gasoline and heating oil will remain tight.
Another knotty problem, analysts said, is the potentially long-term loss of natural gas production in the Gulf of Mexico. Katrina caused significant damage to Royal Dutch Shell PLC’s Mars platform, which produces around 250,000 barrels a day of crude oil and 365 million cubic feet of gas a day; about 40 other platforms were lost, though they were smaller.
By Tuesday, more than 4 billion cubic feet a day, or 42 percent, of the region’s natural gas production remained shut down and 67.6 billion cubic feet of output has been lost since Aug. 26, according to the federal Minerals Management Service.
This is the time of year when utilities typically increase their underground storage of natural gas in order to prepare for winter demand.
The U.S. does not have an emergency stockpile of natural gas, as it does for crude oil, and the country’s capacity for importing liquefied natural gas is limited.
“Natural gas is the one commodity here that I have very little to say about in the way of good news,” Kilduff said. On Tuesday, natural gas futures slipped 3.4 cents to settle at $11.657 per 1,000 cubic feet. A year ago natural gas futures traded below $5.
Kilduff said his company’s forecasting models show the potential for natural gas futures to climb to $15 per 1,000 cubic feet in a matter of weeks if it turns out there is significant damage to underwater pipelines in the Gulf of Mexico.
“After Hurricane Ivan, it took several weeks to know the full extent of the damage to seabed pipelines,” said Steeves. “Some people are quite worried that this time could be worse because of the strength of Katrina.”
That would be bad news for petrochemical manufacturers and others dependent on natural gas as a raw material and as a fuel source for their plants, said Paul Cicio, executive director of the Industrial Energy Consumers of America.
“Most, if not all, of the energy intensive industries built their plants over the past 25 years based on $2.50 (per 1,000 cubic feet) natural gas prices,” Cicio said.
While half of the eight refineries shut down by Hurricane Katrina are restarting their operations, 58 percent of normal oil production remains shut down, according to MMS data released Tuesday. Some 12.7 million barrels of oil output has been lost since Aug. 26.
Major pipelines that carry fuel from the Gulf Coast to markets up and down the East Coast, which have been shut down for days due to power outages, are now back in action.
just got off the phone with Joe Christopher and we can expect great news on revs! permits are done and also another company just offered Mr.Bitters twice the amount what he paid for the drilling rig for only 50% ownership!!! Also the company is setting up for up to 45 wells between Hondo and Ft.Worth basin.
another important note...the company did not know they were listed again on the Berlin exchange!! They requested removal once and we can expect it again!! For those who don't know about Berlin exchange,when listed there a company can legally be shorted to death!!
I feel we can expect some major news very soon!! ;D
Posted by Kalorian on :
Quest you are like johnny on the spot with this info. Keep the news flowing in. As long as I see some green in the end of all this I would say my first few trades would go well besides rocky starts in all 3 of my first investments as expected.
Posted by QuestSolver on :
Kalorian..the way I see it when ever I invest my hard earned money I make sure I get all the info possible including names address and ..next of kin....LOL
The last time I spoke with Jor from America Oil group we got a PR the next day I believe,I hope we do again and when I spoke with Joe he was extremely concerned with the Berlin listing again and he ask me to send the links and other contacts that I have with the listing there.
I do expect to hear about legal action and ask for a delisting there soon.
Posted by QuestSolver on :
Natural Gas Prices May Leap in Fall By THE ASSOCIATED PRESS September 8, 2005
Filed at 8:09 a.m. ET
WASHINGTON (AP) -- Natural gas prices could increase as much as 71 percent in part of the United States this fall, raising the prospect of higher home heating costs this winter, the Energy Department reports.
The department's statistical agency, the Energy Information Administration, reported Wednesday that price hikes will depend on how quickly oil rigs and Gulf coast refineries damaged by Hurricane Katrina can be repaired.
In its report, the agency said natural gas prices for the Midwest will increase as much as 71 percent, while heating oil prices in the Northeast could rise 31 percent. Electricity prices in the South could jump 17 percent.
But barring an unusually slow pace of repairs, the agency said domestic oil production should return to just under 5.4 million barrels a day in November, the level it was in August before Katrina disrupted most Gulf production and knocked out 10 refineries.
The agency said U.S. refining capacity also should rebound, with an anticipated output of gasoline and other fuels of nearly 16.4 million barrels a day in November, the same as August levels.
Even in a slow recovery scenario, normal operations are expected by December, the agency said.
EIA director Guy Caruso, testifying before a House committee examining the energy effects of Katrina, said the forecast will depend on the timing and pace of repairs to oil platforms and refineries.
''The infrastructure has been coming back more quickly'' than expected, he noted.
Four of the 10 refineries that were shut down are expected to be back at full capacity within the next week; six refineries that had to scale back production were expected to be back at full capacity by Thursday, the department told lawmakers.
Caruso said four refineries in Louisiana that suffered severe damage could be out of commission for several months. But the EIA said all but about 900,000 barrels a day of U.S. refining capacity was expected to be available by the end of this month.
That estimate assumes a flow of oil from the government's Strategic Petroleum Reserve in the coming weeks to make up for the temporary loss of Gulf production as offshore platforms are repaired.
Facilities in the Gulf region account for 1.5 million barrels a day, or 29 percent of U.S. domestic oil production.
By: gapcover 08 Sep 2005, 11:40 AM EDT Msg. 25284 of 25289 Jump to msg. # They will beat the estimates. Imagine Drilling Well after well without any delays. Already there is a wait for hiring a RIG for years now.
By: gapcover 08 Sep 2005, 11:42 AM EDT Msg. 25285 of 25290 Jump to msg. # Even the Price of the land they own should make the stock @ 0.05. Factor owning the RIG accompanied by the potential to Drill Well after well. This will be a multiple BAGGAR. Load up as much as you can. This opportunity will never come again. I sold my POGI to invest here
Posted by QuestSolver on :
nice buy volume increase and new HOD
Posted by Kalorian on :
Must be some selling going on been dropping from its .003 gain to .0015 gain.
Posted by TampaInvester on :
need some news. I have a feeling it is coming..
Posted by QuestSolver on :
Tampa....yep
Posted by QuestSolver on :
btw the complete drilling rig is in the U.S. and on its way to Ft Worth site to be put to work.
Posted by Kalorian on :
Which post is that news article in Quest? YOu've been posting news in like 3-4 different places hard for me to keep up lol.
If you could paste it here so I can take a look at it. Was that the article about a different investee only wanting 50% ownership for them to operate the drill or something? So many news articles its becoming a small blur. Need to organize the data heh.
May put the next amount of money I am putting into my account into AMEP. Any word when that drill will be operational?
Posted by QuestSolver on :
also oil and gas production reports are out and if I understand this correctly the numbers are above average.Hopefully to two following links take you right to the numbers.
then search production reports producers id for proco is 679595 producers id for pri is 680845 you can look at production from any well in texas from 1993 thru july 2005. production reports are turned in monthly to the rrc and it takes about a month to a month and a half before they are posted.
Posted by QuestSolver on :
heres the conversation Kal.
just got off the phone with Joe Christopher and we can expect great news on revs! permits are done and also another company just offered Mr.Bitters twice the amount what he paid for the drilling rig for only 50% ownership!!! Also the company is setting up for up to 45 wells between Hondo and Ft.Worth basin.
another important note...the company did not know they were listed again on the Berlin exchange!! They requested removal once and we can expect it again!! For those who don't know about Berlin exchange,when listed there a company can legally be shorted to death!!
Posted by QuestSolver on :
also heres my take today...this morning I contacted Charles Bitters and Joe Christopher by e-mail.They have yet to get back to me concerning my questions.Knowing these guys the way I feel I do I think they are right on top of the issues I expressed and the reason I say that is simply this,they would have contacted me by now so I expect a PR soon...real soon.
Posted by QuestSolver on :
web page finally updated so now I know they are listening since I mentioned this to Joe yesterday.
By: 1greeneyedhawk 08 Sep 2005, 03:36 PM EDT Msg. 25358 of 25363 (This msg. is a reply to 25331 by drbobc422.) Jump to msg. # "The Barnett Shale was the largest natural gas producing field in the United States last year and is currently one of the hottest energy plays in the world, attracting such companies as XTO, Devon and Quicksilver. This rig has the capacity to drill horizontal Barnett Shale wells with lateral sections of up to 3,000 feet. Bend Arch Petroleum can re-enter several Barnett Shale and Marble Falls prospects while Oil America Group is selling limited partnership drilling programs in the Barnett Shale. Now there will not be any delay while waiting for other drilling rig contractors." ...posted by drbobc422
Good solid post dr bob, worth a repost if you don't mind, as it says a lot in one paragraph. The only major item missing that is significant for AMEP IMHO, is the progress PRI has made with the HOA-800, and that the re-work and treatment program will now expand to the entire 193 well project. The added PRI revenues from the sale of heavy oil, which CB said PRI sold for $60 per barrel on the last delivery, will be significant as wells are added to the production side of the 193. The Crane Carrier Portable Rig, that AMEP owns and is paid for, will expedite the re-work and treatment, now that the formula and procedure has been worked out. All this PRI progress this will go on simultaneously, while the newly acquired big Ideco rig drills well after well for Bend Arch and OAG. That makes all 4 investees hitting on all cylinders, ...I like the recent developments, especially the rig acquisition, it changes the entire dynamics for AMEP profitability with a continuous use of the rig...sooner now, than later. GLTY drbob, ...nice post. ... greeneyedhawk
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)
Posted by BeginnersLuck on :
The chart is beginning to look very nice
Posted by Kalorian on :
Thanks for the update and reposts Quest. The stock did ok yesterday had some good gains but it leveled back off. If we get a PR that would sure kick us into the green at least for me I would hope lol.
Posted by QuestSolver on :
uptrending again...any REAL hard news will launch this with very little resistance.
Posted by QuestSolver on :
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.
take your profits from QOIL on the constant drop and put a few bucks in AMEP and hold over the next few weeks,see what happens.
Posted by QuestSolver on :
holding steady with fair volume and a decent base today.
Posted by Kalorian on :
I am gonna take my losses from AMIN I believe. I have a limit sale on it hopefully cashing out where it started today. Perhaps put the combined buying power on monday into AMEP.. we will see.
Posted by QuestSolver on :
hopefully your AMNI sells,those pinks can be nasty.At least you can get your average down on AMEP and are you watching the bid now?hmmmm....nice
Posted by QuestSolver on :
not to many DT exits it appears.
Posted by Kalorian on :
Well AMNI seems good and I didn't realize it was a pink until I got in. (still learning hah). I am hoping it climbs to around .014-.015 this week and I can sell and make a small profit. I would be happy just to take a hit from the comission prices.
I have a buy order queued for more AMEP. Have a few family members that are interested in the stock from everything I've given them and they may be putting some of there savings in. Nothing too drastic.
Looking forward to see how this goes next week. I am assuming we are expecting a PR soon.
Posted by QuestSolver on :
CRAMER,
I found a Cramer re-cap of his Friday, Sept. 9th CNBC comments on the probability of NG going to $20.00
You know some would say we're doing alot of "pumping". The masses need to walk up and know this is reality!
NG has just run from about $6 to the $12 area in about 3 months.
Here are Cramer's comments: "it's not unrealistic to think oil could be going to $100 a barrel and natural gas to $20.
We're buying gas at "milk-cheap" prices, said Cramer, who pointed out that it's possible with a couple of cows to produce milk "with your bare hands." Gasoline, however, requires huge investments in capital, multiple stages of processing and transporting, and must be handled with extreme care.
"Cheap oil. It's a lie," said Cramer. Don't be fooled by any brief respite in gasoline or natural gas prices, he said. "Until your gas prices are at least two or three times the price of milk, I think you're still living in a world of cheap oil. You're living on the big lie."
The linker clinker:http://www.thestreet.com/_tscs/funds/madmoneywrap/10241947.html
(Voluntary Disclosure: LT Rating- Strong Buy)
post above by FM181 on another board
By: sumisu450 11 Sep 2005, 12:13 PM EDT Msg. 25766 of 25776 (This msg. is a reply to 25757 by FMI81.) Jump to msg. # FMI81,
For once I agree with Cramer; surprised he got away with saying those things on CNBC. Others are still dreaming that the price of a barrel of oil will return to $35 with new technology.
For once, I believe Cramer is right and I also believe that Peak Oil and Peak Gas has arrived.
By: googleaire 11 Sep 2005, 06:49 PM EDT Msg. 25776 of 25776 Jump to msg. # Horizontal drilling provides another leap forward for AMEP within the Barnett region.
You get much more efficient fracture stimulation with horizontal drilling than with verticals.
The hydraulics are more efficient in contacting more of the reservoir rock, and the more reservoir rock you can contact with the well and with the fracture stimulation, the better and more efficient the well returns oil.
You can get about three times the well for two times the cost of a vertical. No one recognized way back that water frac technology would cause the Barnett to take off and then horizontal drilling kicked it into another high gear and who knows what new technology could surpass that not to mention there's a tremendous amount of gas still down there locked up waiting to be tapped in to.
Buying AMEP below 3cents could have you enter a new '05 tax-bracket maybe even get you a new zip code.
Good luck Longs.
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)
Posted by QuestSolver on :
Fr Ameritrade
American Energy Production, Inc. (AMEP) traded as much as 8.84% over open on Thursday.
American Energy Production, Inc. engages in the acquisition, development, production, exploration for, and the sale of oil and gas in the United States. The company, through its subsidiary, Bend Arch Petroleum, Inc., holds 1116 acres in Pinto, Texas, and also a 50% interest in 400 acres in Parker County, which includes five producing natural gas wells, as well as natural gas pipeline.
By: newport2kona 11 Sep 2005, 09:39 PM EDT Msg. 25779 of 25801 (This msg. is a reply to 25778 by goldenmind70.) Jump to msg. # goldenmind.... AMEP's numbers are growing,last year was 1.4 million in sales,right now they are averaging over 2 million and could be getting close to 3 million a year in sales. What's important is the production at this point is probably close to a break even point after paying overhead. The new rig is very vital,why,instead of PRI and Bend Arch paying an outside drilling service they will be paying the new investee company which is owned by AMEP the fees for drilling.AMEP is starting to get noticed from what I'm hearing and the buying action. The rig is probably in Mineral Springs right now to be assembled and gone over to make sure everything is working correctly. Leases on 7000+ acres. Hottest play for N/G in the country. Their own drilling rig. Current value of leases-$14,000,000.00+. Production already getting close to $3,000,000.00 a year. It's here,this is the most exciting time in AMEP's history.
Kona
Posted by QuestSolver on :
bid building pre market
Posted by QuestSolver on :
do the math....
By: googleaire 12 Sep 2005, 09:06 AM EDT Msg. 25805 of 25810 (This msg. is a reply to 25768 by goldenmind70.) Jump to msg. # Oil & NG prices will hit $90 to $110.00-a-barrel before they EVER hit $40 again.
$90 A BARREL IS THE INFLATION ADJUSTED PRICE OF 30 YEARS AGO when the 'oil shortage' [or greed factor] hit. Today there's over 1-trillion barrels of proven reserves. ONE TRILLION [THAT MEANS PLENTY FOR ANOTHER 50 YEARS AT LEAST].
What's a trillion? Let's compare a million to a billion first. If I gave you a million dollars and you 'had' to spend $1 per second you would be broke in 13-days. Now you come back for the billion $. Spending the same $1 per second it would take you 33-years to spend it.
A trillion is...well you get the idea, ALOT.
For now AMEP is a GREAT energy play because like 'Katrina' has proved 'any' disruption in the oil/NG supply line and THE PRICE OF OIL SPIKES.
AMEP is what it is [an OTC.BB COMPANY] BUT IT/YOU CAN CAPITALIZE ON THE NEXT DISRUPTION of oil flow and there are a number of events that could see oil spike north of $100 in any one week [the cartel's greed for the greenback is greater now then it was in the 70's NOT BECAUSE OIL is running out, it's more like GREED is growing faster then oil is pumping].
The question is; WHAT CAUSES THE NEXT OIL DISRUPTION?
1] Winter demand 2] Another 'Katrina' 3] Confrontation w/ Iran 4] Terrorists attacking the oil supply line in Saudi Arabia 5] Another uprising in Nigeria 6] 7] 8]
...fill in the blanks then you can see why AMEP @ >3cents is a worthwhile Risk vs REWARD play.
PS keep an eye on the AMEP share volume trading this Autumn and MORE importantly future S-8's filed. Keeping the float below 500M is one key factor for a substantial rally to continue.
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy)
Posted by Peaser01 on :
Looks like it's gonna run to the close.
Posted by QuestSolver on :
just got back in from a putt on the Harley,I don't worry about tic by tic,I know my money is in a safe place here and I sleep well....look for a PR by the way the last 15 minutes have been.,,we are overdue now.
Posted by QuestSolver on :
I do think they have something big and maybe a little out of the ordinary in the works but thats just my opinion for now.Once the rig is assembled I bet they could get a lot of money on a "rent out" basis to other drillers.Actually the rig may already be assembled by now.Heres a contact link for anyone just curious as to what could be in the works.
right now is the best time that you could buy into this to day amep showed that it has found a new support line now we go up big time my price target is .25-.50 i dont think that we will see a buck but .25 woulod still be huge
Posted by bmaxingout on :
quote:Originally posted by morehotair123: right now is the best time that you could buy into this to day amep showed that it has found a new support line now we go up big time my price target is .25-.50 i dont think that we will see a buck but .25 woulod still be huge
i agree 100%
Posted by QuestSolver on :
Japan 's Rivalry With China Is Stirring a Crowded Sea
"By NORIMITSU ONISHI and HOWARD W. FRENCH Published: September 11, 2005
TOKYO, Sept. 10 - In a muscular display of its rising military and economic might, China deployed a fleet of five warships on Friday near a gas field in the East China Sea, a potentially resource-rich area that is disputed by China and Japan.
The ships, including a guided-missile destroyer, were spotted by a Japanese military patrol plane near the Chunxiao gas field, according to the Maritime Self-Defense Forces. It is believed to be the first time that Chinese warships have been seen in that area.
Although the fleet's mission was unclear, its timing suggested that it was no coincidence. The warships appeared two days before a general election in Japan, whose results could greatly influence relations between Asia's two great powers, and weeks before China is scheduled to start producing gas in the area, against strong Japanese protests.
In Japan, where the 12-day election campaign was exclusively focused on domestic issues and on what the media described as Prime Minister Junichiro Koizumi's theatrical politics, the warships were a sudden reminder of its most pressing outside challenge: China.
Until Mr. Koizumi diverted voters' attention from Japan's rapidly deteriorating relationship with China, the focus for several months had been trained on the increasing diplomatic, military and economic rivalry with China - much of it taking place in the waters between the countries, filled with potentially explosive issues like oil and gas and Taiwan.
Both Japan and China are determined to wield a strong hand in the oil-rich seas and strategic shipping lanes that lie between them.
"It is like the 1930's again, when the central Pacific became a vital concern to both the United States and Japan, whose navy was expanding," said Adm. Lang Ning-li, who until his recent retirement was Taiwan's director of naval intelligence. "That means there could be conflict between China and Japan, which both see these seas as vital, and can't share this space."
Security experts from China, Japan, Taiwan and the United States say all the elements are in place for a showdown over Taiwan between Beijing and Tokyo. No one is predicting war, but Taiwan poses a permanent and unpredictable potential crisis. Washington has a close alliance with Japan, security commitments with Taiwan and a complex relationship with China that mixes rivalry with extensive economic ties.
For America, whose support of either Japan or China has historically tipped the balance in the region, the implications are enormous. The recent comments by a Chinese general that his country would use nuclear weapons against the United States if the American military intervened in a conflict over Taiwan were a sharp reminder that Taiwan's fate remains one of the region's biggest flash points. Many analysts argue that such confrontation, verbal or otherwise, could lead to a regional arms race culminating in a nuclear Japan.
Japan imports all of its oil, and because much of it passes through the seas surrounding Taiwan, feels its survival is dependent on keeping those seas stable. Chinese control of Taiwan could hurt Japan's access to oil, Japan fears. And the United States, which has pledged to defend Taiwan if it is attacked by China, would like to count on Japan's help. During the cold war, Japan conducted joint operations with the United States to keep Soviet submarines out of the Sea of Japan. The submarines are now Chinese, but the policy toward them is pure containment.
"You can come out as much as you want, unless you do something wrong," said Adm. Koichi Furusho, who served as chief of staff of Japan's Maritime Self-Defense Force until January.
This cold-war view of China emerged recently in Japan, but Japan's embrace of it is one of the reasons behind the worsening relations between the countries."
Posted by QuestSolver on :
By: trazbul 13 Sep 2005, 07:53 AM EDT Msg. 25971 of 25977 Jump to msg. # Heard on CNBC on way to work today that cost of renting/using a drill rig is shooting through the roof, if they can be gotten at all (aint no availability out there)! What great timing for AMEP in our acquisition of a big rig for our proprietary drilling....Management seems to be pushing all the right buttons lately...cannot wait until they PR the rig is operational.....
By: one_b1g_crap_shoot 13 Sep 2005, 09:02 AM EDT Msg. 25975 of 25977 (This msg. is a reply to 25971 by trazbul.) Jump to msg. # CNBC also just said that Rig availablity is at the lowest level in decades....
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)
Posted by Kalorian on :
moving more of my other investment money into this. It really seems like a no brainer to even at least double what I've put in. Encourage other friends and family to get in as well.
This stock has been going up 3-5% a day in recover from the big drop last Monday.
Posted by QuestSolver on :
Kal...as many have stated,this is going to be a slow but steady climber imo..2 steps up and 1 step back for retrace...a constant pattern.
Posted by QuestSolver on :
about to move to the next level up it appears even though we are in lunch time idle mode.
Posted by Kalorian on :
I am aware of that Quest. I don't expect this to soar to .20 in a weeks time.
I just agree with all you've said and backed with DD. I've also done some minor research as well with project NG prices and looked at some other company info.
If anything just anxious to get out of the red
AMEP was at 250 x 50 bid vs ask I believe. I am assuming from my limited knowledge that more are trying to buy than sell. It just dropped back to 50 x 50.
Posted by QuestSolver on :
Chart just turned 100% bullish. The 10/20/50 SMAs just went into perfect alignment--one right above the other:
10 20 50
and swinging upwards.
Not a guarantee that the uptrend will continue but a very strong argument that the short to mid-term investors are in agreement that the trend will continue to the upside.
Posted by 4Art on :
Edited. Posted by QuestSolver on :
if there is a substantial short position in AMEP offshore or overseas that would explain the Berlin activity pushing it down on no or low volume.If American Energy Productions have sent a petition to be removed from the other markets there will be some serious covering,think about it...we catch hell buying small blocks,imagine if a financial institution is short in the millions.
The month over month trend for four months is going up. The volume over the past 5 of seven months has Strong Accumulation starting back in March when the volume started to rise to 200M+.
After that the volume tapered off in April & May [>100M shares trading] followed by June, July, August & Sept where 300,000M shares became the norm.
AMEP has 500M A/S w/ 300M O/S that leaves 200M+- for dilution. With no S-8's recently it looks like management is waiting for the pps to rise [to a much higher level] before the dilution starts.
I'm betting we see a few to even several positive PR's that have the pps rise significantly.
Time will tell as Winter Demand for oil is one significant factor, as is the Oil America Group limited partnership drilling programs in the Barnett Shale region, that PR that will hit the PR wires very soon...
Posted by Kalorian on :
was just watching that.. some very good gains and volume is increasing. Did we get a PR?
Posted by Kalorian on :
Volume soaring.. new HOD .027.. looking good. Very close to being out of the red :-P
up 14% today so far.
Posted by BeginnersLuck on :
running...
Posted by QuestSolver on :
patience pays in high quality stocks...this is nothing...hold for the real deal soon.
Posted by Kalorian on :
these gains are without a PR right? I don't see any released on quotemedia.com yet.
Posted by BeginnersLuck on :
no news
Posted by QuestSolver on :
posted by greeneyedhawk@ragingbull.com
futrcash on iHub talked to CB: This is a copy of futrcash's post on iHub when I asked about details in his conversation with the CEO CB (Thanks futrcash for sharing your conversation with CB).
greeneyedhawk... To answer your question,there were a few salient points that are relevant. I'm just going to throw them out there,and let people respond as they may. As far as the new rig goes,CB is expecting all of the towers(3 sections)motors etc.should be in the yard sometime this week.After that he's expecting a full shakeout and assessment of all the parts i.e. motors,transmission,etc.,including needed upgrades and repairs if necessary, to be completed by the end of the month.With drilling commencing upon the finalization of that process.He emphasized that it would be foolish to hold him to a set time frame as there might be some unanticipated mechanical glitch such as a missing part which could delay that timeframe so take it fwiw.
With regards to operating emphasis,he made it clear that exploiting the gas reserves in the Barnett Shale is priority #1 with the heavy oil on the remaining acreage secondary.That's no surprise really as the new rig is all about drilling Bend Arches leases. However,that being said,he told me that he felt 3000 barrels a month heavy crude oil production is doable in the short term on the other leases which is nothing to sneeze at.
I also learned that the price AMEP receives for both the gas and oil is set monthly and stays the same price for the entire month.The price they get on the first Monday of the month is what they get for every day for the rest of t6he month,and as a result,the operators do everything in their power to manipulate the price down for the first trading day of the month.
The gathering systen is in place,and they're ready to bring any new production right online if and when that happens.CB's an older guy who seems to be doing what he can to make his company a success,but he also struck me as a man who doesn't want to make any promises he can't keep.The bottom line assessment he gave me is that unless oil and gas prices retreat dramatically the company will be profitable.
Finally with respect to debt,he told me they have NONE.Specifically he told me that noone has called him trying to collect any debt.
futrcash
Posted by QuestSolver on :
getting ready for some EOD buying,look for another HOD and a rally with the last 30 minutes imo.If this breaks the .028's its open road to .032
Posted by QuestSolver on :
bid and asking building for EOD rally imo...looking strong and any news leak on any list of subjects could send this one flyin!
leases worth over $10-$14 mill
drill rig ownership and maybe for leasing out
major money offers for 50% ownership of the rig
Oil and Gas numbers going to be high
Natural Gas will be unreal and AMEP is focused on just that.
ABSOLUTELY NO DEBT NOW.
Posted by QuestSolver on :
18 minutes and counting...buys set at .0255 and above...come on rally lets get rollin.
Posted by Kalorian on :
watching and waiting myself. Very close to being in the overall green for this stock. Once that happens I won't be as worried from tick to tick.. green is a very good color Posted by Kalorian on :
.026 close looks like. 10% gain. I'll take it. Definently some better movement today. Looking forward to the rest of the week.
Posted by NaturalResources on :
Devon, EOG show Barnett shale has momentum Oil & Gas Journal / Aug 8, 2005
Reports from two key operators in the Barnett shale of North Texas show the play has strong momentum.
Devon Energy Corp, Oklahoma City, said its proved reserves in the North Texas Barnett shale gas play exceed the 1.9 tcf of gas equivalent booked when it acquired the Forth Worth basin assets in 2002, in spite of the intervening production.
Devon Energy bought the Barnett shale assets from Mitchell Energy & Development Corp. in January 2002. It now operates 1,830 wells in the formation, having drilled nearly 1,000 wells since the acquisition. The company has 18 rigs running in the play.
Devon Energy reported 1.944 tcfe of Barnett Reserves at the end of 2004.
At 570 MMcfd vs 350 MMcfd in early 2002, Devon Energy produces more gas from the field than all other producers combined. It holds 550,000 net acres, and its wells are mainly in Denton, Johnson, Parker, Tarrant, and Wise counties.
Cumulative production since 1981 from wells operated by Devon Energy and Mitchell Energy surpassed 1 tcf of gas in June 2005. Devon Energy is the largest gas producer in Texas and third largest in the U.S.
Meanwhile, EOG Resources Inc., Houston, holds 490,000 acres in the Barnett shale and plans steady drilling for at least the next 6 years.
"During the second quarter, additional wells drilled to the west of Johnson County, in Hood and Jack counties, continued to confirm the acreage is natural gas and not oil-productive," EOG Resources said. Play observers had believed that the Barnett would produce oil west of a line running through Wise, Parker, and Hood counties.
EOG Resources has established that the formation will produce gas in Johnson, Jack, Erath, Parker , and Hood counties and plans to evaluate Hills and Pal Pinto counties by the end of 2005.
The company is running eight rigs in Johnson and one in Hood. Its net reserves were 133 Bcfe in the Barnett at the end of 2004. Its goal is to average 50 MMcfd from the Barnett in 2005 compared with 6 MMcfd in 2004 and exit 2005 at 80 MMcfd. Output is 54 MMcfd in late July.
Early core data show 90 bcf/sq mile in place on the west side where the Barnett is shallower, compared with 130 bcf/sq mile in Johnson County. EOG said.
EOG said it has leased 125,000 acres in a Barnett look-alike play elsewhere in Texas where it cored a well in the second quarter. It hopes to have test results by yearend 2005.
Posted by bmaxingout on :
amep had a very good day today i cant wait till tomorrow this imho is going to dwarf tnog we are starting to get alot of attention
glta
tomorrow we will be making mo money
Posted by bmaxingout on :
man cant wait till our new drill is punching big ol money holes
Posted by QuestSolver on :
check this out bmax!!
by Dan Piller Fort Worth Star-Telegram, Texas Tuesday, September 13, 2005
Record natural-gas prices in the wake of Hurricane Katrina have stoked even more interest in the Barnett Shale drilling play around Fort Worth, but tight supplies for drilling rigs means that expansion of the field isn't likely to accelerate beyond earlier plans.
"Day rates for rigs have gone up, but that's not the real problem -- the problem is just getting a rig," says veteran Fort Worth oilman Dick Lowe, whose Four Sevens Oil Co. has had to wait an extra month for a drilling rig it plans to put on a site in Fort Worth at East Loop 820 and Interstate 30.
Weatherford drilling consultant Jimmy Thomas, a geologist who has interests in 30 wells and has followed the Barnett Shale play since the late 1990s, says, "The Barnett Shale is hotter than ever."
The "rig choke," as Lowe calls it, has manifested itself in higher day rates producers must pay for rigs. At the beginning of this decade, a jackknife rig could be had for about $6,000 per day. But back then, of course, natural gas sold for about $3, oil was still below $30 per barrel, and the U.S. drilling-rig count stood at about 700 working rigs.
In midsummer this year, Patterson-UTI of Snyder, which owns about one-third of the nation's oil- and gas-drilling rigs, quoted day rates of $12,000 to $13,000 for rigs during July and August. Chairman Cloyce Talbott said the rate is likely to reach $15,000 during the fourth quarter.
The Barnett Shale was doing nicely even before Hurricane Katrina shut down about a quarter of the nation's natural-gas production in the Gulf of Mexico. As of Tuesday, about 30 percent of the lost production had been restored but not before natural-gas prices shot up to $12 per thousand cubic feet, from $8 to $9 two weeks ago.
Drillers have responded to higher natural-gas prices. More than 1,400 drilling rigs were working onshore in the United States last week, more than 600 in Texas.
The number of rigs working in the six-county Barnett Shale field, which was opened in 1999, rose from 81 March 1 to 101 May 1. But since then the total has remained static, settling at 100 July 1, 106 August 1 and 102 at the end of last week.
The Barnett Shale play has expanded south and east of Johnson County this summer, with four rigs working in Bosque, Hill and Ellis counties as well as four more to the west in Palo Pinto County. Other rigs worked earlier in Erath County.
"If you're an established producer with relationships with the driller and some contracts, you'll be able to get equipment," Lowe said. "If not, you'll have a tough time."
The Barnett Shale is a rarity among natural-gas fields in Texas: Its production still is increasing. From total production of 79 billion cubic feet in 2000, the Barnett Shale has expanded to annual production of 368 billion cubic feet last year and along the way become Texas' largest-producing field.
The field is likely to keep that distinction this year. Through mid-2004, it had produced 210 billion cubic feet, up from 179 billion cubic feet a year ago. Producers have optimistic plans to expand the play, not only in the original Wise-Denton-Tarrant county zone northwest of Fort Worth but into Johnson, Parker and Hood counties as well.
Indeed, the increased drilling this year has come in those counties south and west of Fort Worth. The aggressive entries of two Fort Worth players, XTO Energy and Quicksilver Resources, have pushed up the drilling-rig counts in Johnson County from 15 in March to 32 last month and from eight to 15 rigs in Parker County. Hood County's rig count grew from two in March to seven in June, but the number declined to four last month.
The tightness in rig supplies isn't a surprise, given the erosion in the drilling industry after the early 1980s. The record rig count is 4,530 rigs, in December 1981. But shortly after that, the price of oil collapsed, and two-thirds of the nation's energy industry went into liquidation.
Much of the iron and steel that drilled wells was sold for scrap. By 1998, the rig count had sunk to 499, the lowest level since records have been kept. Only this summer has the rig count reached 1,400.
The price conditions that idled so many rigs have long gone away. Natural gas, which sold for less than $2.50 at the beginning of this decade, has soared in price thanks to heavy demand from new electricity generators.
Demand has been particularly heavy this summer because of peak electricity loads to power the nation's air conditioners. That demand pushed prices above $8 by mid-August, making it more difficult for gas utilities to fill storage caverns with the gas needed to get through cold snaps during winter heating season.
According to U.S. Energy Department figures, the nation was about 1 trillion cubic feet short of the 3.3 trillion cubic feet of stored gas that is considered a sufficient supply for a typical American winter. That was before Hurricane Katrina blew away 24 percent of U.S. production that comes from the Gulf of Mexico. That 24 percent effectively matches Texas' share of annual production.
For that reason Daniel Yergin, author of the seminal work The Prize and considered one of the nation's foremost energy experts, said last week that "the run-up in natural-gas prices is the real story of Hurricane Katrina."
Indeed, although crude oil's spike was about 5 percent at the peak of the markets' reaction to Katrina last week, natural gas rose by 20 percent to nearly $12.
Those prices make obsolete earlier warnings by the Energy Department and utilities like Dallas-based Atmos Energy, which supplies gas to residential and commercial customers in Dallas-Fort Worth, that winter heating bills could rise by as much as 20 percent.
The higher natural-gas costs will probably be passed to consumers when TXU Corp. requests another rate increase from state regulators. TXU warned that it would seek an increase in mid-July; but now that request is likely to be higher than anticipated. Electricity rates have already risen 46 percent since early 2002, largely because of the rising natural-gas costs.
About 50 percent of Texas' electricity is generated from natural gas.
FYI... (AMEP and CB is truly blessed to have acquired a big Ideco Rig to develop the 7,000 acres over the Barnett. Success and profitability is at hand for AMEP.) info posted by Greeneyedhawk on R B
Posted by QuestSolver on :
Natural Gas Shortages Worry Bush Officials By H. JOSEF HEBERT, Associated Press Writer Tue Sep 13,11:22 AM ET
BATON ROUGE, La. - Senior Bush administration officials touring the Gulf Coast area devastated by Hurricane Katrina expressed concern Tuesday about possible shortages of natural gas, saying that the region's production may not recover for months.
Energy Secretary Samuel Bodman said there is less known about the damage to the natural gas supply system than about the effect on crude oil production. He said in addition to possible pipeline damage, the hurricane also shut down gas processing facilities on-shore.
"The great concern is about natural gas," Bodman told reporters as he flew to Louisiana from Houston.
Interior Secretary Gail Norton, who accompanied Bodman, said that 90 percent of the Gulf oil platforms "will be capable of production by the end of the month." But she said damage to on-shore facilities is expected to keep oil production down.
Norton said that 58 percent of Gulf oil production remains shut down, as does 38 percent of the region's natural gas production.
"But there is more concern about gas because we don't have an international market" that the country could rely on for additional supplies as it does with oil, she said.
Last week, the Energy Information Administration estimated that natural gas prices would soar this winter because of the hurricane, including increases as much as 71 percent in parts of the Midwest.
Bodman and Norton were to visit the government's Strategic Petroleum Reserve facility near Baton Rouge. The government is already supplying oil to some refineries from the reserve on a loan basis.
Later the two Cabinet secretaries were to tour an Exxon Mobile refinery near Baton Rouge that escaped damage from the hurricane but had to scale back production because of the shortage of crude oil. The refinery has since resumed production using SPR supplies.
Bodman and Norton met with senior executives from two dozen energy companies Monday evening in Houston. The executives said they needed government help in arranging for housing for thousands of employees as they struggled to return the Gulf's oil and gas system to full operation, he said.
Posted by QuestSolver on :
heres another interesting view of AMEP.
By: nelderand 14 Sep 2005, 08:42 AM EDT Msg. 26149 of 26150 Jump to msg. # waitin_nomore......... .20 in 6 mo......
I think I said a couple of weeks. Alright. Look the fundamentals are already there. One of these days someone is going to have accumulated enough stock and they will send it higher, but it will be a gapper, IMO. Everyone will, of course, attribute it to some news, or a delayed reaction, or whatever. That is how it works, but the truth is that this company has very strong fundamentals that investors should die for, IMO. Nothing is an absolute in life, but you just cannot get a better risk/ reward ration, IMO. That is the fundamental story.
As far as timing goes, I base that on the charts. We are putting in a nice inverse-angled-head-and-shoulders bottom. This bottom isn't only structurally like the bottom in GLG, NG, and HNR......it is almost identical. I happened to run into a post by Drill on the CALVF board a few months, ago, took one look at the chart, and that was it. I started buying at .014 and bought down to .011. I also have added at around .017 and .019. I am no fluke with charts, but recently a friend who spent over 10 years trading on the floor (as in spelled one of the best) told me he has a huge position, also. He comes at charts from a bit of different direction, but I don't see him miss very often.
Of course Ricky will question my charts, my friend, what CB tells people etc. I could not care less. I evaluate things on my own and when I am satisfied I make a decision. The potential for a gap higher is there for practically anytime in the near future. Hopefully the chart will look like HNR, but it is not as steeply angled. I'll take a cousin to GLG, though.
Joe
Posted by BeginnersLuck on :
Here We Go
Posted by Peaser01 on :
Yes sir, it's moving up rather nicely!
Posted by QuestSolver on :
heres the bottom line...you don't want AMEP to simply pop and run,even though many wil make money scalping it will fall just as quick.Right now its in a controlled state walking up at a decent rate level by level,this gives us all a much stronger investment.
BTW it should flirt with the 4's or higher today imo. Posted by QuestSolver on :
heres a post by unitedcorp on HSM (although I don't believe this is the reason for the early interest.I believe the company is now being seen for what its true value will become soon.)
The reason that it is running this morning is in anticpation of the eia's oil report which is due out at 10:30 am (est). You can catch the report first live on CNBC. In my opinion, this news is going to work very well in our favor. Look to see some .04's by tomorrow.
Posted by QuestSolver on :
I hope many didn't fall for that short lived dip...did ya notice on the way down how they let the bid match the ask at each level? OH yeah...they want shares.
Posted by Peaser01 on :
Moving back up!
Posted by InForTheKill on :
You know a company is desperate when it starts putting out items in the public domain as a press release...or says, "the total market for our product is X and "if" we can only get 1% of it we'd all be rich". Oh please! This is a dog.
Posted by Kalorian on :
hmm I heard in another post once this stock begins to attract bashers it is another sign you've got a sure thing.
Posted by QuestSolver on :
LOL....a dog??? I think most here can see right thru that.
Posted by QuestSolver on :
wow....GOOG in the $300's.....what a trip!
Posted by QuestSolver on :
bid movin on up...lunchtime about over I guess.
Posted by QuestSolver on :
Tulsa paper says "Natural Gas Shortage Feared"....goes on to say that unlike oil which compensate from lower US output in gulf due to oil being an international market, natural gas is a domestic market.....i.e. can't compensate for shortage, which they said the gulf is 30% of the NG market.
Posted by 4Art on :
Edit. Posted by QuestSolver on :
looking at a few DT exits before close,look for a BUY dip
Posted by QuestSolver on :
GNET on 700k
Posted by QuestSolver on :
heres a post that should interest many since I spoke with Mr.Christopher last week and he told me directly he was going to deal with the Berlin issue and bring it to Mr.Bitters attention.I noticed the past two days the activity on the Berlin exchange has changed and it appears that short positions may be covering.
By: napolean32955 14 Sep 2005, 08:00 PM EDT Msg. 26356 of 26356 Jump to msg. # Joe Christopher responded to me that he has turned over our removal from the Berlin Exchange to Charles Bitters.
Have a nice evening gentlemen.
(Voluntary Disclosure: Position- No Position; ST Rating- Hold; LT Rating- Hold)
Posted by QuestSolver on :
Good Morning all.
sure looks like shorts covering overseas,up 33% with high volume for there.
opening in the .03's on both ends.This is a strong buy and even moreso now.
Posted by QuestSolver on :
half mill at open and now over a mill..imo in a few months this one will be measured 5 times or more above this level.
Posted by QuestSolver on :
AMEP--best OTC ONG buy in the market,expect to pay 5 times this level soon.Theres actually very little resistance well into the .04's and the way shares are held its going to be harder to get a decent amount without chasing it.
Posted by QuestSolver on :
they are doing everything they can to try an entice some sellers into profit taking..I am tellin ya,shares are far more tighter then many think.
Posted by QuestSolver on :
doing the best they can to keep this under .03,they are about to be squeezed imo.
Posted by QuestSolver on :
I am expecting multiple new HOD's today and I am happy with the way they are moving this,we will stay on solid ground this way.I do want to se this near .04 today to test the waters,the MM's will pull out profit takers at that level imo and then we really walk it up
Posted by QuestSolver on :
its the lunchtime lull and still accumulation going on,AMEP is one to BUY BUY BUY and hold.
Gas and Oil/Natural gas/rig ownership/heating oil/ WINTER......get the picture?
Posted by QuestSolver on :
this article shows just how important owning your own rig is!! Do not even under estimate that move by AMEP!!
by Dan Piller Fort Worth Star-Telegram, Texas Tuesday, September 13, 2005
Record natural-gas prices in the wake of Hurricane Katrina have stoked even more interest in the Barnett Shale drilling play around Fort Worth, but tight supplies for drilling rigs means that expansion of the field isn't likely to accelerate beyond earlier plans.
"Day rates for rigs have gone up, but that's not the real problem -- the problem is just getting a rig," says veteran Fort Worth oilman Dick Lowe, whose Four Sevens Oil Co. has had to wait an extra month for a drilling rig it plans to put on a site in Fort Worth at East Loop 820 and Interstate 30.
Weatherford drilling consultant Jimmy Thomas, a geologist who has interests in 30 wells and has followed the Barnett Shale play since the late 1990s, says, "The Barnett Shale is hotter than ever."
The "rig choke," as Lowe calls it, has manifested itself in higher day rates producers must pay for rigs. At the beginning of this decade, a jackknife rig could be had for about $6,000 per day. But back then, of course, natural gas sold for about $3, oil was still below $30 per barrel, and the U.S. drilling-rig count stood at about 700 working rigs.
In midsummer this year, Patterson-UTI of Snyder, which owns about one-third of the nation's oil- and gas-drilling rigs, quoted day rates of $12,000 to $13,000 for rigs during July and August. Chairman Cloyce Talbott said the rate is likely to reach $15,000 during the fourth quarter.
The Barnett Shale was doing nicely even before Hurricane Katrina shut down about a quarter of the nation's natural-gas production in the Gulf of Mexico. As of Tuesday, about 30 percent of the lost production had been restored but not before natural-gas prices shot up to $12 per thousand cubic feet, from $8 to $9 two weeks ago.
Drillers have responded to higher natural-gas prices. More than 1,400 drilling rigs were working onshore in the United States last week, more than 600 in Texas.
The number of rigs working in the six-county Barnett Shale field, which was opened in 1999, rose from 81 March 1 to 101 May 1. But since then the total has remained static, settling at 100 July 1, 106 August 1 and 102 at the end of last week.
The Barnett Shale play has expanded south and east of Johnson County this summer, with four rigs working in Bosque, Hill and Ellis counties as well as four more to the west in Palo Pinto County. Other rigs worked earlier in Erath County.
"If you're an established producer with relationships with the driller and some contracts, you'll be able to get equipment," Lowe said. "If not, you'll have a tough time."
The Barnett Shale is a rarity among natural-gas fields in Texas: Its production still is increasing. From total production of 79 billion cubic feet in 2000, the Barnett Shale has expanded to annual production of 368 billion cubic feet last year and along the way become Texas' largest-producing field.
The field is likely to keep that distinction this year. Through mid-2004, it had produced 210 billion cubic feet, up from 179 billion cubic feet a year ago. Producers have optimistic plans to expand the play, not only in the original Wise-Denton-Tarrant county zone northwest of Fort Worth but into Johnson, Parker and Hood counties as well.
Indeed, the increased drilling this year has come in those counties south and west of Fort Worth. The aggressive entries of two Fort Worth players, XTO Energy and Quicksilver Resources, have pushed up the drilling-rig counts in Johnson County from 15 in March to 32 last month and from eight to 15 rigs in Parker County. Hood County's rig count grew from two in March to seven in June, but the number declined to four last month.
The tightness in rig supplies isn't a surprise, given the erosion in the drilling industry after the early 1980s. The record rig count is 4,530 rigs, in December 1981. But shortly after that, the price of oil collapsed, and two-thirds of the nation's energy industry went into liquidation.
Much of the iron and steel that drilled wells was sold for scrap. By 1998, the rig count had sunk to 499, the lowest level since records have been kept. Only this summer has the rig count reached 1,400.
The price conditions that idled so many rigs have long gone away. Natural gas, which sold for less than $2.50 at the beginning of this decade, has soared in price thanks to heavy demand from new electricity generators.
Demand has been particularly heavy this summer because of peak electricity loads to power the nation's air conditioners. That demand pushed prices above $8 by mid-August, making it more difficult for gas utilities to fill storage caverns with the gas needed to get through cold snaps during winter heating season.
According to U.S. Energy Department figures, the nation was about 1 trillion cubic feet short of the 3.3 trillion cubic feet of stored gas that is considered a sufficient supply for a typical American winter. That was before Hurricane Katrina blew away 24 percent of U.S. production that comes from the Gulf of Mexico. That 24 percent effectively matches Texas' share of annual production.
For that reason Daniel Yergin, author of the seminal work The Prize and considered one of the nation's foremost energy experts, said last week that "the run-up in natural-gas prices is the real story of Hurricane Katrina."
Indeed, although crude oil's spike was about 5 percent at the peak of the markets' reaction to Katrina last week, natural gas rose by 20 percent to nearly $12.
Those prices make obsolete earlier warnings by the Energy Department and utilities like Dallas-based Atmos Energy, which supplies gas to residential and commercial customers in Dallas-Fort Worth, that winter heating bills could rise by as much as 20 percent.
The higher natural-gas costs will probably be passed to consumers when TXU Corp. requests another rate increase from state regulators. TXU warned that it would seek an increase in mid-July; but now that request is likely to be higher than anticipated. Electricity rates have already risen 46 percent since early 2002, largely because of the rising natural-gas costs.
About 50 percent of Texas' electricity is generated from natural gas.
FYI... (AMEP and CB is truly blessed to have acquired a big Ideco Rig to develop the 7,000 acres over the Barnett. Success and profitability is at hand for AMEP.) ... %^ greeneyedhawk
Posted by QuestSolver on :
AMEP closed up on good volume in Berlin...shorts covering their butts imo.
last dip,if your getting any get it now,last time in the .02's I believe for good.
Posted by Peaser01 on :
Tomorrows run will be good. Just turned back up. Should be a nice close today.
Posted by QuestSolver on :
the dips are getting shorter with less drop,watch out for this one in a few weeks,many are going to be quite happy they made entries now.
Posted by bmaxingout on :
US natural gas production 'crippled for months'
Three weeks after Hurricane Katrina struck one of the world's most important natural gas producing regions, 35 per cent of Gulf of Mexico production remains off-line, and analysts say gas production there will remain "crippled for months".
"The hurricane has propelled already record high gas prices to an even higher plane, with no relief in sight," according to Wood Mackenzie, the consulting and research company.
Some analysts predict natural gas prices will average $12 per thousand cubic feet this winter – double the cost last winter. Jason Gammel of Prudential Equity Group believes higher natural gas prices will be more important for US consumers than high petrol prices, which already average more than $3 per gallon.
Posted by QuestSolver on :
natural gas is going to get a lot of attention not only in the market but directly from the consumer base.
Posted by QuestSolver on :
quest might be a good indicator for the opening bell .035-.04 tommorow my freind
Posted by QuestSolver on :
I won't be here for open today,I have a court session but should be back by noon,I will have buys set at differant levels for any retracement since it is Friday,Berlin is nuts today,up66% then down 20%,looks like a lot of covering going on there.
Natural Gas Shortages Worry Bush Officials
By H. JOSEF HEBERT, Associated Press Writer Tue Sep 13,11:22 AM ET
BATON ROUGE, La. - Senior Bush administration officials touring the Gulf Coast area devastated by Hurricane Katrina expressed concern Tuesday about possible shortages of natural gas, saying that the region's production may not recover for months.
Energy Secretary Samuel Bodman said there is less known about the damage to the natural gas supply system than about the effect on crude oil production. He said in addition to possible pipeline damage, the hurricane also shut down gas processing facilities on-shore.
"The great concern is about natural gas," Bodman told reporters as he flew to Louisiana from Houston.
Interior Secretary Gail Norton, who accompanied Bodman, said that 90 percent of the Gulf oil platforms "will be capable of production by the end of the month." But she said damage to on-shore facilities is expected to keep oil production down.
Norton said that 58 percent of Gulf oil production remains shut down, as does 38 percent of the region's natural gas production.
"But there is more concern about gas because we don't have an international market" that the country could rely on for additional supplies as it does with oil, she said.
Last week, the Energy Information Administration estimated that natural gas prices would soar this winter because of the hurricane, including increases as much as 71 percent in parts of the Midwest.
Bodman and Norton were to visit the government's Strategic Petroleum Reserve facility near Baton Rouge. The government is already supplying oil to some refineries from the reserve on a loan basis.
Later the two Cabinet secretaries were to tour an Exxon Mobile refinery near Baton Rouge that escaped damage from the hurricane but had to scale back production because of the shortage of crude oil. The refinery has since resumed production using SPR supplies.
Bodman and Norton met with senior executives from two dozen energy companies Monday evening in Houston. The executives said they needed government help in arranging for housing for thousands of employees as they struggled to return the Gulf's oil and gas system to full operation, he said.
Posted by QuestSolver on :
By: trazbul 16 Sep 2005, 10:55 AM EDT Msg. 26680 of 26689 Jump to msg. # We had 3% institutional activity yesterday and 3% of the total over the last month, according to I-watch....watch this amount go up in the near term, IMHO....this bodes well for the longs here.
This morning's drop was to be expected simply based on our recent daily gains without news...it is healthy! All that said and as I said before, the next PR about drilling in progress and then followed by hitting pay-dirt, will launch this stock to I beleive to the .10 range, or estimated current fair value, as estimated by many knowledgable posters here.
I would not be surprised to see some heavy buying this afternoon either.....GLTA!
By: oil2005 16 Sep 2005, 10:50 AM EDT Msg. 26678 of 26689 Jump to msg. # www.NaturalGasStocks.com (NGS), and www.OilandGasStockNews.com (OGSN), global investor websites for the natural gas, energy and oil industries report on the impacts in the natural gas arena as a result of Hurricane Katrina. Analyst Philip McPherson, Director of Research, C.K. Cooper & Company, and International Energy Consultants, Purvin & Gertz, Inc. reveal industry insights into the potential market reaction to the disaster as we move forward towards recovery.
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)
Posted by bmaxingout on :
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BOUGHT A SMALL AMOUNT AT .0305 BUT GOT OUT WHEN IT HIT .029![[Big Grin]](biggrin.gif)
