MINERAL WELLS, Texas--(BUSINESS WIRE)--April 18, 2005-- 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."
120K X12 months pretty good for 1 well...
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
| IP: Logged |
posted
How about SmarTire today. Yee haw fellas! I think it'll run again above .09.
I'm hoping it breaks .1 today. I sold higher, and then doubled up my shares when it dropped below .08. I'm getting out of it today regardless. I'm up on my second go around with SMTR too. Yee haww! I like AMEP. I want in.
FILL MY ORDER @ .0191 for crying out loud!
-------------------- Buy Low. Sell High. Posts: 10754 | From: The Land Of The Giants | Registered: Feb 2005
| IP: Logged |
posted
This one has been on my radar to get back into. I think it is a good sign that despite the bearish weeks this has held an RSI of 50+.
I was waiting for a dip to close to 40 to get in but I may not get the chance.
Posts: 852 | From: Pacific Northwest | Registered: Jan 2005
| IP: Logged |
posted
AMEP seems great..just the corporate debt and their 'management fees' seems high..generating income and paying themselves (as opposed to the stockholders) seems to be the game...but despite of this, I still hold...
Posts: 218 | From: Grungteb | Registered: Nov 2004
| IP: Logged |
posted
looks like they pushed it down on purpose this am, we'll see if it bounces back.
Posts: 9110 | From: boston, ma | Registered: Jan 2004
| IP: Logged |
posted
I agree with you Glassman,There are many pumpers out there that are saying buy this it will definatly go up and you will make tons of money.We just have to seperate those people from the good ones like ktrain and others that do there homework and share with others.
Posts: 1326 | From: Providence,RI,USA | Registered: May 2004
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Big Grin]](biggrin.gif)
![[Wink]](wink.gif)
