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bingo2004
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Oil Sets Record on U.S. Supply Outage

48 minutes ago Business - Reuters

By Simon Webb

LONDON (Reuters) - Oil prices hit a new record near $51 a barrel on Tuesday as a prolonged U.S. production outage following Hurricane Ivan attracted fresh speculative buying.


Reuters Photo

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U.S. light crude set a high of $50.91 a barrel in electronic dealing before easing to stand up 77 cents at $50.68 ahead of pit trade


Posts: 638 | From: new york | Registered: Jun 2003  |  IP: Logged | Report this post to a Moderator
bingo2004
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Oil Stocks

AMEP

DD
Charles Bitters, President of American Energy Production Inc. stated, "Oil and gas revenues so far in the 3rd quarter increased by approximately 229% over revenues from the entire 2nd quarter with September production still to be added. We are very pleased with the production revenue showing significant incremental increased since the quarter ending December of 2003, when the Company had total production revenues of $6600; followed by approximately $60,000 in the 1st quarter of 2004, $143,000 in the 2nd quarter and now $314,000 for the first two months of the 3rd quarter this year."

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 becoming a Business Development Company in January 2004. Activities during this stage include acquisition of subsidiaries, 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 http://www.americanenergyproduction.com/


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lilmama
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what does this mean for crude oil stock prices in your opinion?
Like USCI for example

Posts: 61 | From: Waynesville, NC USA | Registered: Jun 2004  |  IP: Logged | Report this post to a Moderator
bingo2004
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Share price of all stocks.

Yes higher oil prices will help some oil stocks.

Share price is affected by many factors

1) Public confidence in a company
2) Public believes a stock will go higher
3) What stock exchange a computer is trading on.
4) If the company is dumping shares into
the market as it releases news.
5) How big is the float and outstanding shares.
6) ETC - the stars?

GL
BINGO


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JBCak47
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Try this site, we have a bunch of oil, gas and energy related topics and links. It is the USCI Shareholder Community Board!
HTTP:// USCI . PRO BOARDS 27 . COM

close up all the gaps in the address.

The site is for USCI however other oil and energy related discussions are talked about.

-John

[This message has been edited by JBCak47 (edited October 05, 2004).]


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Bigrod40
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SPRU......sitting at .0033, could hit pennies with recent news from last week.
Do your DD

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L Cypher
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PAPO - currently .007
As of 8-13 A\S - 200,000,000
O\S - 162,910,193

I think that oil/gas companies with concerns in Canada will profit most from the rising oil prices. A rather large percentage of our energy comes from there.



Posts: 55 | From: USA | Registered: May 2004  |  IP: Logged | Report this post to a Moderator
   

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