posted
AMEP mid term target is over .50 (3-6 months),following the same pattern as QOIL now and shares are more scarce then many realize. Also imo if this touches .02 I think the MM's are going to try a panic shake and may dip it to .017's but I know that shares are scarce now and many many buys are set well above where they can drop it but they will pass them to get it down.If any news breaks this could really pop but I prefer a slow solid gain each day because as you know if it runs up too fast it will drop just as fast in many cases.
posted
just gotta know when to sell:) thank you for the information though it's greatly appriciated
Posts: 234 | From: Poughkeepsie NY | Registered: Jun 2004
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posted
Was in yesterday at .0165 thanks for the other tip. . .again i'd look at ckx for the long term the comany has been showing some nice growth. MRKL looks to have bottomed out and showing some great support around .08.
Posts: 234 | From: Poughkeepsie NY | Registered: Jun 2004
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posted
some more good posters putting in more good info.
By: DrillBit 31 Aug 2005, 04:15 PM EDT Msg. 23088 of 23108 Jump to msg. # With Nat Gas at $11 per Mcf, to make a million bucks on a well, you only need to sell 311 Mcf a day. That is NET WI and includes ORRI. Will the Barnett Shale sustain that? Damn straight! BTW, AMEP's Barnett Wells have oil which is added profit. Oh, and ya might want to include the upper formations that AMEP will dual complete. Are you starting to see a picture? 7000 acres and adding.
By: 1greeneyedhawk 31 Aug 2005, 04:34 PM EDT Msg. 23094 of 23108 (This msg. is a reply to 23088 by DrillBit.) Jump to msg. # Drill, I believe at todays NG and Oil prices, the NASH 1-c that was just recently completed, is now approaching a Million dollar well annually. And these Barnett wells will produce for 20-30 years or more. The real beauty in it is the Nash well is a vertical well, the 5 horizontals scheduled to be Drilled by AMEP will each produce a multiple of a vertical well in the same formation per the independent DD, such as Devon Energy is doing with it's horizontals in the Barnett Shale formation. Thanks for the good DD drillBit, it's appreciated coming from an Oilman with plenty of experience.
"Charles Bitters, President of American Energy Production Inc. stated, "Bend Arch Petroleum Inc. began successfully producing the Barnett Shale well on Friday, July 29, after exchanging the complete down hole jet assembly and production tubing. The Nash 1-C is still not stabilized but on Monday August 1, the well produced in excess of 20 barrels of high gravity oil and 100,000/cubic feet of natural gas. At today's market price of $60.00/barrel for oil and $8.00/mcf of natural gas this would be approximately $1600.00/day or $48,000.00/month or $570,000.00/year gross revenue. This will add a very nice piece to the Bend Arch Production Inc. income. The company will post more results once the well has a chance to stabilize therefore giving a clearer picture as to the future of the Nash 1-C well."
... hawk
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy By: 1greeneyedhawk 31 Aug 2005, 04:57 PM EDT Msg. 23100 of 23108 (This msg. is a reply to 23096 by the_freedom_nebula.) Jump to msg. # freedom nebula, you had that figured right. I took advantage too, and bought on the dip from the general misunderstanding of how a BDC (Business Development Company) reports revenues in it's 10Qs. Technically we are looking to move up strong, on NO news. Any good fundamental news will just add Gas to the fire (pun intended, lol). ... hawk
posted
I guess by now many here know whats going on in Atlanta..Fox showed gas pump prices at a high of $6.07 with an average of $5.30's...is this insane or what??And Maryland is projected to break into the $4's tomorrow.
and guess what....did ya ever notice how many towelheads own the gas stations in our country?
things are going to get ugly in the U.S. for the next few months I believe and between natural gas,heating oil and gasoline and crude we surely have entered into a great stock at whats going to be known as "unheard of low prices for a ONG stock"
posted
I second that I'm gonna start riding my bike to work soon save money 3 fold, I don't have to pay for the car payments, car insurance, or the gym...winter months are a little bit rarsh though being in NY
Posts: 234 | From: Poughkeepsie NY | Registered: Jun 2004
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By: kipperca 01 Sep 2005, 04:28 AM EDT Msg. 23184 of 23188 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
posted
By: pennimon1 01 Sep 2005, 06:46 AM EDT Msg. 23185 of 23188 Jump to msg. # A must read for amep investors - understand this,you will buy more amep..Wow,you thought things were bad now with gas,this read is from Qoil board,which I swiped from ihub tnog board.Serious stuff.
WASHINGTON (AFX) - At least 20 oil rigs and platforms are missing in the Gulf of Mexico and a ruptured gas pipeline is on fire after Hurricane Katrina hit the region, Agence France-Presse reported, citing a source from a US Coast Guard unit operating in the area.
'We have confirmed at least 20 rigs or platforms missing, either sunk or adrift, and one confirmed fire where a rig was,' Petty Officer Robert Reed told AFP.
The missing rigs were in the Gulf of Mexico, Reed said, citing Coast Guard overflights of the area and information from oil companies.
He could not confirm the location of the blaze but said it would 'eventually burn out' and no fire-fighting intervention was needed.
'We are of course working on the environmental side of things but right now we are still concentrating on search-and-rescue missions to save as many lives as possible on land,' said Reed, whose Coast Guard unit has been evacuated from the flooded city of New Orleans to Alexandria, Louisiana.
According to the latest tally Wednesday from the federal Minerals Management Service, a total of 561 platforms and rigs have been evacuated in the Gulf of Mexico, which accounts for a quarter of US oil production.
Over 91 pct of normal daily crude oil production in the Gulf -- 1.5 mln barrels -- is now shut down, and more than 83 pct of natural gas production, the MMS said.
Among the firms reporting missing rigs was Newfield Exploration Company, which said an aerial survey of its operations in the eastern Gulf showed that one of its platforms at Main Pass 138 'appears to have been lost in the storm.'
'As of this morning, boats and helicopters are mobilizing to better access damages, identify any environmental impacts and begin the repair process,' Newfield said in a statement.
Noble Corp said its semi-submersible rig Noble Jim Thompson, which was contracted to a unit of Anglo-Dutch giant Shell, had broken loose and was 17 miles adrift of its normal Gulf location.
Shell's Mars platform was said by analysts to have suffered 'extensive damage'.
'Some of our facilities have been damaged and production is halted while we begin assessments and run checks,' Shell chief executive Jeroen van der Veer said.
On shore, at least eight refineries have been shut down on the coasts of Louisiana and Mississippi since Katrina roared ashore early Monday just east of New Orleans.
Many other refineries are struggling to cope with shortfalls of crude caused by the closure of major port terminals and pipelines from evacuated and missing rigs in the Gulf of Mexico.
In response, the US government prepared Wednesday to open its emergency oil reserves for the first time in a year to keep supplies running to those refineries still operating.
This is from an oil industry insider I consider quite credible. She was definitely right about everything in her last post. If she's right about this one, we may finally start to get a true picture of what's going on.
There are MANY production platforms missing (as in not visible from the air). This means they have been totally lost. I am talking about 10's of platforms, not single digit numbers. Each platform can have from 4 to 100+ wells on it. Most larger ones have 20-30 wells in this area, with numerous caisson wells. They are on their sides, on the bottom of the gulf - they will likely be left as reef material, provided we can get permission. MMS regulations require us to plug each of the wells that were on these platforms - HUGE cost now, as the platforms are gone... Hopefully, MMS will grant `abandon in place' status for these wiped out structures.
We also set individual wells as satellites and pipe them back to existing platforms. These stand-alone wells are called caisson wells. 90% of those in the storm path are bent over, rendering them a total loss, We would have to remove the existing bent structure and drill a new well, as bent pipe is basically unusable.
We utilize platforms as gathering hubs. We pipe the raw oil/water to them and then send it on for separation, or separate it there and send finished oil on. Damage to a hub means everything going to the hub is offline indefinitely. There are +/- 15 HUBS missing. MISSING!! As in we cannot find them from the air.
Thus even if the wells feeding the hub are ok, we have nowhere to pump the oil to...
The jackup drilling rigs appear to be in various stages of damage, but most rode the storm out with minimal problems. However, each of them has shifted position.
When we jack the rig up, it is carefully positioned directly over the well slot where we are working. The derrick has rails that allow us to slide it in 4 directions to get the derrick directly over the well or slot. If the rig moves (right/left, or from level to uneven), it has to be jacked back down to the waterline and repositioned with tugboats, then jacked back up. After it is back up and level, the derrick is slid on the 2 sets of rails, and bolted into position over the well or slot again.
Thus we have to reset each of the drilling rigs, which requires getting OUT of the well, tugboats and a move, then getting back into the well. The open hole we have drilled (what is not enclosed in cemented casing) is likely to be lost, and if the wellhead or the casing is bent, then the well will have to be redrilled. This is an exploration setback of at least a month, but we don't yet know the boat situation.
Boats are usually brought into harbor to weather storms. We do not have a boat count yet, but from the initial reports, we may have lost or grounded 30% of the Gulf of Mexico fleet. This means everything will cost more, take longer - repairs, repositioning, everything.
In short, the Gulf area hit by the storm is basically in about the same shape as Biloxi. The damage numbers you have gotten from the government and analysts are, in my opinion, much too low. We are looking at YEARS to return to the production levels we had prior to the storm. The eastern Gulf of Mexico is primarily oil production...
Loss of the MARS platform alone cost us 95,000 barrels a day for a year or maybe more.
YEARS, people. I know what this means - hope everyone else gets it too...
The front page of the Houston Chronicle has a rig beached on Dauphin Island. The legs have been sheared off and derrick is missing – thus it is a total loss. This rig was operating in Main Pass (adjacent to Plaquemines Parish), and thus was blown to Alabama and beached.
posted
American Energy Production, Inc., Announces Purchase of Oil Drilling Rig by Investee 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.
American Energy Production Inc., Mineral Wells Charles Bitters, 210-410-8158 www.americanenergyproduction.com Or Oil America Group Corp. Joe Christopher, 972-386-0601 jchristopher@oilamericagroup.com
Source: Business Wire (September 1, 2005 - 9:03 AM EDT)
Posts: 234 | From: Poughkeepsie NY | Registered: Jun 2004
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