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News for 'AMEP' - (American Energy Production Inc. Announces First Quarter Production Revenues for Two Wholly Owned Investees)
MINERAL WELLS, Texas, Apr 18, 2005 (BUSINESS WIRE) -- American Energy Production Inc. (OTCBB:AMEP) announced today the first quarter Production Revenues for two wholly owned subsidiaries Production Resources Inc. and Bend Arch Petroleum Inc.
American Energy Production Inc. subsidiary, Production Resources Inc., sold approximately 1931barrels of oil in January, February and March for total net oil revenue of $76,428. Bend Arch Petroleum Inc. in January, February and March sold 4517 barrels of oil for approximate total gross revenue of $223, 635.,and natural gas production of 34,835 MCF and approximate gross revenue of $188,848. Total gross revenues for Bend Arch Petroleum and Production Resources Inc. totaled $488,911.
Charles Bitters, President of American Energy Production, Inc., stated, "Bend Arch Petroleum will commence deepening a re-entry well to the Marble Falls formation in the next two weeks to define the field boundaries on its 12 wells Palo Pinto Project where the company recently completed a Marble Falls well that produced gross oil and gas income of approximately $120,000 in the 30 days. If this well is successful then an evaluation will be made to drill several new wells."
American Energy Production Inc. wholly owned investee Oil America Group is putting together a three well horizontal drilling program to test the Barnett Shale formation on three leases acquired from Bend Arch Production Inc. For more information contact J. Christopher at 972-386-0601 or Jchristopher@oilamericagroup.com
About AMERICAN ENERGY PRODUCTION, INC.:
AMEP was founded in 2000 and in 2003, upon the acquisition of certain oil and gas assets, the company entered a new development stage. Activities during this stage include acquisition of additional assets, developing and implementing a plan to extract oil and gas, acquiring certain rights to and utilizing an oil recovery additive, completing initial sales of oil and gas, and raising capital. The company has determined that its operating model best approximates that of an investment company and intends to make investments into developing businesses in oil and gas related industries. Please see www.americanenergyproduction.com.
Certain statements in this document constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of American Energy Production Inc. ("the Company"), or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its plan of operations when needed; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission which are available for review at www.sec.gov under "Search for Company Filings."
SOURCE: American Energy Production, Inc.
CONTACT: American Energy Production, Inc., Mineral WellsCharles Bitters, 210-410-8158www.americanenergyproduction.com
Copyright Business Wire 2005
Posts: 1326 | From: Providence,RI,USA | Registered: May 2004
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ONE new well brought in 120K$ in its first 30 days.... the company recently completed a Marble Falls well that produced gross oil and gas income of approximately $120,000 in the 30 days this isn't just news.......
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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its better like this, smart traders get in early and wait, then it moves on its own without the hype....
Posts: 9110 | From: boston, ma | Registered: Jan 2004
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We got in early and let's ride this baby for a bit. It'll be a good payday when we choose to cash out. This is a good up and coming money maker!!!
-------------------- Buy Low. Sell High. Posts: 10755 | From: The Land Of The Giants | Registered: Feb 2005
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