AMZG 10Q for June 30, 2013
AMZG just filed its 10Q report yesterday.
The important things that I liked:
1: Profitable with profit from oil/gas revenue. In the past, profit was usually from selling off properties.
2: After June 30, there was a financing done for 5 million shares at $2/share, which was slightly higher than the market price. Usually offerings like that are done at a discount to the current market price.
3: AMZG has entered into a multiwell agreement. The partner is picking up the cost of the new wells and then AMZG gets a percetange after the partner recovers their costs. I estimate after two years it will add as much as 6.8 net wells. ( 5 gross wells that revert 100% to AMZG after partner recovers 112% of costs PLUS 30% of 6 wells after partner recovers 112% per well)
I sold out of AMZG after the stock jumped a while ago from $0.90/share to $1.60/share; but after the press release this morning and the 10Q showing profit from oil/gas sales, I bought back in at the open today. Hopefully, the price will back off over the next few months, before the wells are drilled and reported, in order to be able to buy more shares.
Louis J. Desy Jr.
LouisDesyjr@gmail.com
