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American Energy Production Inc. Announces Oil Drilling Rig Arrives in Mineral Wells, Texas Friday September 16, 11:37 am ET
MINERAL WELLS, Texas--(BUSINESS WIRE)--Sept. 16, 2005--American Energy Production Inc. (OTCBB:AMEP - News) announced today the Ideco drilling rig purchased by Investee AMEP Strategic Investments Inc. from Aramdrill in Mexico has arrived in Mineral Wells, Texas. ADVERTISEMENT
Charles Bitters, President of American Energy Production Inc., said, "The Company is very excited with the delivery of the Ideco drilling Rig from Mexico City to Mineral Wells. To locate a rig of this type in the current demand driven environment and go through Mexico and U.S. Customs without any major problems is no small feat. 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. This is the perfect drilling rig for the productions horizons the Company is interested in exploiting." The Company will immediately begin checking out the drilling rig and mud pump engines and add the support equipment necessary to begin drilling operations. This drilling rig should be in the field drilling in the next three weeks. AMEP will continue to inform shareholders as work progresses.
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.
"This drilling rig should be in the field drilling in the next three weeks."
Now there will not be any delay while waiting for other drilling rig contractors."
With what I'm reading about Peak Oil and Peak Gas, the astute investor will establish a position here, wait for the drilling to start, and elevated natural gas prices will be waiting for AMEP. We will be selling into a high sellers' market.
It can't get much better than that. The right investment at the right time.
Storm fears drive natural gas to new high Sep 19, 2005, 19:35 GMT printer friendly email this article
NEW YORK, NY, United States (UPI) -- Fears of another storm in the Gulf of Mexico Monday sent the price of natural gas soaring 13.6 percent to a record high.
October natural gas hit a record $12.663 per million Btu on the New York Mercantile Exchange over worries that Tropical Storm Rita could turn into a hurricane, forcing the closure of crude oil and natural gas production in the gulf.
Those fears also drove up gasoline futures, a huge one-day jump of 14.4 percent to $2.0427 per gallon, while heating oil leaped 11 percent to close at $2.0384 per gallon.
Crude oil climbed a relatively tame 7 percent or $4.39 per barrel to settle at $67.39.
"The Barnett Shale natural-gas field in North Texas, which was opened to full production in 1999 and now has almost 4,000 wells, again stood out among Texas fields by increasing production by almost 17 percent. The field extends around Fort Worth from Wise to Johnson and Hood counties."
"Railroad Commission figures show that the field, concentrated in Wise, Denton and Tarrant counties, produced 210.2 billion cubic feet of gas through June of this year against 179.5 billion cubic feet a year ago, when the Barnett Shale field became Texas' largest producing field. In 2004, the Barnett Shale field produced 369 billion cubic feet of natural gas."
"Barnett Shale production is expected to keep growing as new pipelines and processing plants enable producers to pursue plans to drill in Johnson, Parker and Hood counties."
Posts: 2430 | From: CA | Registered: Jun 2005
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...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.....
"...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."....
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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October 1, 2005 American Energy Production: Short Squeeze of the Year
American Energy Production Inc. (OTC: AMEP) is a prime example of a major short squeeze in progresss. On February 22, 2005, the company's shares hit a long term base when company management discontinued the Form 2-E offering which disclosed that the company received $1,820,000 of proceeds from the offering through the sale of 171,000,000 million shares. With an increase in outstanding shares to near 306,171,168 million, the company's shares took a dive to the sub-penny level, but finally bottomed out because the company was seeking alternative financing that was less dilutive. Eventually, good news about the company started to come out, including the most recent in which American Energy's subsidiary, Production Resources Inc. posted significant oil production increases on twelve test wells by as much as 500% for the month of August. Coupled with massive volume, the shares took a massive swing north in the month of September. It seems obvious to many traders that someone had aggressively shorted the stock, believing that it was just another dilutive penny stock scam. But with good news and volume, those same market makers who had shorted the stock were now climbing the bid to cover their shares.
posted by Ant & Sons * 10/01/2005 10:54:00 AM 0 comments
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for anyone who may want to take the time and confirm this uptrend here's a good T/A to do it.In the top chart you can place your cursor anywhere in it an it gives you the date up top and the volume and so on on that day.
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Was their any news on AMEP or was this just a run up in stock price that the traders took advantage of and decided to turn a quick profit. What is your take Im down about 4 cents from this morning. Was their any news that would have changed your position about this company. Is their any more news coming soon.
Posts: 11 | From: NY | Registered: Aug 2005
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this stock is turning out to be a day traders dream pick,going to gap and run again tomorrow imo!
hmmmm....look at the two year chart,I'll have to post the link...seems to me this has happened before in both directions,strong instant drop or increase near EOD. Also this ir more then After hours consolidation and if you have an offshore account you can trade after hours.
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Could you post some of the lingo short cuts you use to express yourself. I pick up on some but do not reconize others like IMO and LOL
Posts: 11 | From: NY | Registered: Aug 2005
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I noticed these trade to and you just explained why I am seeing these after hours trades that we cant make. But I also have another question how are some traders shorting this or other penney stocks I was under the assumption you could not short stocks uder 5.00 per share.
Posts: 11 | From: NY | Registered: Aug 2005
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quote:Originally posted by magicfingers: Could you post some of the lingo short cuts you use to express yourself. I pick up on some but do not reconize others like IMO and LOL
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bottomline is that nothing has changed at all,think about it,if we opened and traded normally today and we closed where we are now would anyone really be that concerned? The problem with today was this,looking back on the intraday it appears everyone wanted in this at open and right away,this of course caused an immediate jump in the PPS and then many raised their buys settings and chased it,the PPS rose more under buying pressure,now momo is in play tripping even more radars to buy in and then the DT's took exits and the MM's played right on it,they started dropping the bid support on wide spreads trying to panic traders (which worked for the most part) and stopped to momo in its tracks...all this in one day trading session.Many shares were bought today over .11,quite a bit actually,I even bought at multiple levels above there.Nothing has changed though,NG still going up and won't stop for a while,winters just about coming in and no NG production going on in the gulf,today was a fluke,this will be in the double digits again tomorrow and the traders will try and swing it again imo,lets hope the PR hits us after open!!
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cbsmarketwatch.com has after hour trading at .13 up .04 whats up with this ??
Posts: 333 | From: calif, bay area | Registered: Jul 2005
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looks like Berlin has reversed the drop and is heading back up
also heres a good post and we are now in week 3 so we should be drilling new wells per PR on the 16th,not to mention the increased production by over 500% and that should keep our ONG line running!!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,many keep forgetting about this and paying more attention to Barnett
heres a good reminder post!
Posted by: viper4949 In reply to: None Date:10/3/2005 6:32:10 PM Post #of 2090
AMEP LONG...HOLD HOLD HOLD....mechanic will be out this week to go over rig...got hung up on a job last week..joe christophersaid rig will be up and running in 2-3 weeks or sooner...in regard to your questions about a rig crew...amep has their own crew run by charles bitters...he has been in the oil business for over 30 years and has drilled many holes .experienced crew is the key, amep has all of the above..the holes will go in deep and fast..that means lots of cash $$$$$$$$$$$$ in the next year...so buy and hold..dont get sucked up in the daytraders menu...buy on lows and hold.............joe said he will post photos of the rig as soon as it is up and running
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What does hung up on a job mean. What is the actuall problem and is this the new drilling rig we are talking abount or another type of drilling rig.
Posts: 11 | From: NY | Registered: Aug 2005
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