posted
and this is a typical 10-q shake out imo,should bounce back strong but don't be surprised if it hits .015's or so first.The 10-q was better then the last with a lot less negatives!
American Energy Production Inc. Announces 2nd Qtr. Production Revenues for Two Investees
August 16, 2005 09:00:15 (ET)
MINERAL WELLS, Texas, Aug 16, 2005 (BUSINESS WIRE) -- American Energy Production Inc. (AMEP, Trade) announced today the 2nd quarter revenues of its two wholly owned investees, Production Resources Inc. and Bend Arch Petroleum Inc.
American Energy Production Inc. investee, Production Resources Inc., sold approximately 1,274 barrels of oil in the 2nd quarter for total net estimated oil revenue of $63,695.
Bend Arch Petroleum Inc., in the 2nd quarter, sold approximately 3,341 barrels of oil with estimated revenues of $157,090 and natural gas sales of 31,604 MCF with approximate gross revenue of $189,078. Total gross revenues for Bend Arch Petroleum and Production Resources Inc. totaled approximately $409,775 for the 2nd quarter.
"Production revenues for the 2nd quarter were off a little from the 1st quarter due to prices of oil and natural gas in April and May when the oil posted price was only $42.00/bbl., and natural gas spot prices were around $4.50/MCF. Also, the natural gas purchasers had to do maintenance repair work on the gas transportation line and Bend Arch had to shut the oil and gas wells in for almost a week," stated Charles Bitters, president of American Energy Production Inc.
Charles Bitters, also stated, "Oil America Group is within one week of starting its second Limited Drilling Partnership. Joe Christopher, president of Oil America Group Corp. is very excited about the prospects in the 3-well Horizontal Barnett Shale Project." For more information contact jchristoper@oilamericagroup.com or 972-386-0601.
posted
They said they didn't meet expectations and it was already in a down turn. The good thing about it is bottom might hit quick and it can turn around quicker. The old saying holds true buy on rumors/sell on news. It has nothing to do with if the numbers are still good or not. Its about the expectations.
[ August 16, 2005, 10:22: Message edited by: Ric ]
-------------------- Invest with your brain not with your heart.
IP: Logged |
By: newport2kona 16 Aug 2005, 10:56 AM EDT Msg. 21739 of 21754 Jump to msg. # Oil America Group, I can't recall them announcing any finalized Limited Drilling Partnership on the 3 well project,now they're on their second. If I recall each project has to raise $4.4 million for the drilling of 3 wells. The PR today is most important,the 10Q is history.
By: Varok 16 Aug 2005, 10:39 AM EDT Msg. 21724 of 21754 Jump to msg. # I would like to thank all the weak hands today to allow the rest of us to acquire your nervous unwarranted sells..
You have shown us that this venue is not for you and trust that you will now go to your investment advisor and let him pick your 401K and other financial vehicles,because you will never survive in this great trading pit.
I've added all the way down to .014..Excellent buying opportunity..
posted
a really wise post from an ole timer on RB..listen and learn all you newbies out there. Wise money played right into this action today and many of us seen it coming,I still think we close green today.
By: GLOER 16 Aug 2005, 11:28 AM EDT Msg. 21766 of 21767 Jump to msg. # Interesting stuff. I'm a long time shareholder and CB supporter. I put away a nice position some time ago and added to it months ago when it dropped to almost sub penny. Start-ups like these don't go to the moon right away so I've almost forgotten about my holdings. I haven't posted in a while though I talk to CB from time to time. I have met him a few times, I like him and I approve of his slow and steady approach. When last we spoke, he mentioned that most of the just released, last quarter's oil had been sold when it was in the mid $40s. Oil is hitting records and there doesn't seem to be a let-up. Our production is increasing, new wells are coming on and the partnership drilling program should help too. Consider the increasing prices...go to sleep with your holdings and forget the day to day ramblings of day traders and jerks.
posted
Just some other info on this one. the O/S as of August 10th was 302,030,234. Looks like this one could move with the energy market the way it is and also with them within a week starting its second limited drilling partnership.
IP: Logged |
posted
imo every real oil/gas penny stock is going to be good to have,AMEP at these levels is going to look pretty damn good after all this blows over.Todays news says it loud and clear Charles Bitters, also stated, "Oil America Group is within one week of starting its second Limited Drilling Partnership"
more wells about to go online.....
from the July PR they stated 30 to 45 more days for 10 more wells to go online,when all this comes together you definitely want to be in AMEP.
posted
Oil Rises on Drop in Gasoline Inventory 08.17.2005, 10:58 AM Forbes
Crude-oil futures rose Wednesday after U.S. petroleum data showed drivers' strong demand for fuel cut into gasoline supplies, although crude stocks rose.
Crude oil inventories grew by 300,000 barrels last week to 321.1 million barrels, or 11 percent above year-ago levels, according to U.S. Department of Energy data released Wednesday.
But the nation's supply of gasoline fell by 5 million barrels, putting inventories at 198.1 million barrels, or 12 percent below last year.
Analysts had been expecting a rise in both crude and gasoline stocks.
The Department of Energy said that over the past four weeks, motor gasoline demand has averaged nearly 9.5 million barrels a day, 1.5 percent above year-ago levels.
Front-month September crude futures rose 22 cents to 66.30 in morning trading on the New York Mercantile Exchange. Crude futures hit a record peak of $67.10 a barrel in trading Friday.
Heating oil rose less than a cent to $1.8710 a gallon in morning trading, while gasoline rose more than a cent to $1.9950.
On London's International Petroleum Exchange, October Brent crude rose 13 cents to $65.21 a barrel.
Distillate fuel supply, which includes heating oil, rose by 1.2 million barrels to 131.1 million barrels, or 5 percent above year-ago levels, according to the weekly petroleum data.
U.S. refiners operated at 93.5 percent of capacity last week, a slight decline from 95 percent the week before.
Oil traders remained jittery Wednesday over the possibility of further refinery disruptions in the United States, Iran's nuclear showdown and news that protesters had shut down an oil pipeline in Ecuador.
"We just have to get used to the probability that oil is trading in a much higher range and for much longer than previously expected, and an upper price ceiling is almost impossible to determine at this moment," said Alex Scott, oil analyst at Seven Investment Management in London.
Analysts have blamed rising demand in the United States and China for supply tightness, as excess capacity shrinks to levels that could trouble markets in the event of a major outage.
A monthly report released Wednesday by the Organization of Petroleum Exporting Countries said the pace of oil demand is expected to rebound next year, supporting long-term bullish arguments.
"Average world oil demand for 2006 is projected to grow by 1.6 million barrels a day or 1.9 percent to average 85.2 million barrels a day," the report said. "This slightly higher forecast is due to the slightly more optimistic view of the world economy for the coming year."
Prices are now more than 40 percent higher than a year ago, when a furious rally began on troubles and outages in key producers Nigeria, Venezuela, Iraq and Saudi Arabia.
In recent weeks, oil prices have surged to new highs after a stream of U.S. refinery outages.
In Ecuador, protesters halted operations Sunday at a major oil pipeline in the Amazon basin, demanding the state-owned Petroecuador hire more locals and pay higher wages.
A Petroecuador official said more than 50,000 barrels a day has been lost so far - a relatively tiny figure compared to the global oil market, but still enough to unsettle an already-jittery market.
Also, protesting Nigerian villagers forced the closure of a Royal Dutch Shell PLC oil-pumping facility, cutting production by 10,000 barrels a day, company officials and village leaders said Wednesday. The protesters were angered over Shell's compensation offer to villagers for environmental damage from a 2003 oil spill and fire.
posted
looks like reality is setting in and the buying is picking up,I am tellin ya all buy AMEP and hold it into the fall at least but best into next spring,AMEP will be the one to have.Read yesterdays news closely.
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
