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.
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.
posted
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
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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
Posts: 638 | From: new york | Registered: Jun 2003
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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).]
Posts: 759 | From: Long Island, NY | Registered: Dec 2003
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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.
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