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Building a new shelf around $9.50 - results were mixed but upside is apparent.
AEZ has great potential from here. Great area play we have been in it for quite a while.
I received an investment letter touting oil companies in the Bakken, North Dakota area as potentially sitting on large reserves with the ability, due to advanced drilling techniques (horizintal- fracture etc), to recover the oil very profitably.
For a $99 subscription you can get the name of the company.
In the case of this company it appears they are focused on this
area and have cash to carry out real progress. The latest news release is very promising. If one can get a handle around the
reserves and their revenue from whatever percentage of these
wells they own it could be interesting. The statement by the CEO that they expect to fund future drilling from cash flows indicates they are on their way. I am taking a small initial position and starting research . Crusader Rabbit.
"AEZ News" American Receives $46.2 Million From Sale of Powder River Basin, WY Assets
http://www.marketwire.com/press-release/American-Receives-462-Million-From-Sale-of-Powder-River-Basin-WY-Assets-NYSE-Amex-aez-1141489.htm
DENVER, CO--(Marketwire - April 1, 2010) - American Oil & Gas Inc. (NYSE Amex: AEZ) announced today that American has received $46,181,289 in sales proceeds from the sale of all of its ownership in non-producing wells, producing wells and undeveloped acreage located in the Powder River Basin of Wyoming. The sale includes all of American's ownership in the Fetter and Krejci projects. American expects to pay less than $500,000 in income taxes, after offsetting the taxable gain on sale with net operating loss carry-forwards from prior years.
Pat O'Brien, CEO of American, commented, "We are pleased to announce the closing of this sale which now enables us to focus our financial and human resources primarily on the development of the Bakken and Three Forks formations within our Goliath project area. We are commencing a two rig drilling program at Goliath, and we are preparing for a possible expansion of the program."
American Oil & Gas Inc. is an independent oil and natural gas company engaged in exploration, development and production of hydrocarbon reserves primarily in the Rocky Mountain region. Additional information about American Oil & Gas, Inc. can be found at the Company's website: http://www.americanog.com.
AEZ is up 800% in less than 1 year, but no posts here for 2 months now. Did everyone sell before it started it move upwards?
I'm glad I bought it as it's nice to be well into the green, and there are investment letters I've read that believe that this stock will be moving up to $30,00. That would be sweet.
All out of AEZ this morning! good luck all
Holding firm....I love this stock heheee
I think we can close $1.20 incredible vol
AEZ $3 target
Because i'm up & i don't expect the current price of oil to hold up much longer.I hold to many stocks to long,i need to start taking profits off the table when i get the chance.GL
Why do you plan on selling.
i;m in from .85 it took a nice dip after i bought,i don't think i'll be holding it much longer. we'll see
I may buy in Monday looks good.
al ittle accum/consold going on here still?
your thoughts dog?
Yep! Going to grab another 1/2.
looks like AEZ is under some accumulation after a nice little burst of green
i havent done any DD on it but ill take a peek maybe this weekend when i get some time
American Oil & Gas Reports 1st Quarter 2008 Results
Monday May 12, 5:52 pm ET
DENVER, May 12 /PRNewswire-FirstCall/ -- American Oil & Gas, Inc. (Amex: AEZ - News) reports a net loss to common stockholders of $1,320,425 (loss of three cents per share, basic and diluted) for the quarter ended March 31, 2008, as compared to net loss to common stockholders of $865,359 (loss of two cents per share, basic and diluted) for the quarter ended March 31, 2007. The $455,066 increase in loss includes a $210,027 loss (net of deferred income tax reduction) from the sale of securities held in another company.
During the quarter ended March 31, 2008, American recorded $507,804 in revenues from the sale of oil and natural gas. In that period, American had $247,831 in oil revenues from selling 3,028 barrels of oil at an average price of $81.84 per barrel, and American had $259,973 in gas revenue from selling 29,216 Mcf of natural gas at an average price of $8.90 per Mcf. During the corresponding quarter of 2007, American recorded $395,500 in oil and gas revenues. In that period, American had $222,729 in oil revenues from selling 4,334 barrels of oil at an average price of $51.39 per barrel, and American had $172,771 in gas revenue from selling 27,020 Mcf of natural gas at an average price of $6.39 per Mcf. Although our revenues from the sale of oil and natural gas increased during the quarter ended March 31, 2008 when compared to the quarter ended March 31, 2007, our production on a barrel of oil equivalent basis decreased from 8,837 barrels of oil equivalents to 7,897 barrels of oil equivalents. During the quarter ended March 31, 2008, we experienced an inordinately high number of days when our production was shut in due exclusively to shut down of transportation lines and processing facilities at our Fetter project. We also were not able to commence production from the Solberg 32-2 well at our Goliath project due to significant delays in commencing operations at the natural gas processing plant.
For the quarters ended March 31, 2008 and March 31, 2007, American's general and administrative expenses were $1,390,208 and $1,132,842, respectively. The $257,366 increase is largely attributable to hiring additional employees.
At March 31, 2008, American had $14.8 million in working capital including an $8.6 million short term loan secured by auction rate preferred shares ("ARPS"), $8.8 million in cash and cash equivalents, and $17.25 million in taxable closed-end mutual fund ARPS. $7.5 million of the ARPS are scheduled for redemption this month, $5.1 million is expected to be redeemed by June 30th with the rest expected to be redeemed in the third quarter of 2008.
Our net cash used by operating activities decreased from $629,433 during the quarter ended March 31, 2007, to $589,702 for the quarter ended March 31, 2008 due to increased revenues partially offset by increased cash payments of operating and administrative expenses.
During the quarter ended March 31, 2008, we used a net $1.6 million in investing activities as compared with $2.7 million used in the quarter ended March 31, 2007. The $1.1 million decrease is primarily due to our being carried in all of the drilling costs at our Fetter project.
In the quarter ended March 31, 2008, we received $8,600,000 from a short-term loan in March, to be repaid from the redemption of ARPS. During the quarter ended March 31, 2007, we had received no cash provided by financing activities.
American Oil & Gas, Inc. is an independent oil and natural gas company engaged in exploration, development and production of hydrocarbon reserves primarily in the Rocky Mountain region. Additional information about American Oil & Gas, Inc. can be found at the Company's website: http://www.americanog.com.
Selected Financial and
Operating Data Three-month period ended
3/31/08 3/31/07
CASH FLOW RECAP:
Net cash used by operating activities $ 589,702 $ 629,433
Net cash used in investing activities $ 1,556,998 $ 2,728,219
Net cash provided by financing activities $ 8,600,000 $ -
FINANCIAL RECAP:
Revenues $ 507,804 $ 395,500
Net loss attributable to common
stockholders $ 1,320,425 $ 865,359
Net loss per common share- basic and
diluted $ 0.03 $ 0.02
OPERATING DATA:
Net oil production (Bbl) 3,028 4,334
Oil revenues $ 247,831 $ 222,729
Average oil price per Bbl $ 81.84 $ 51.39
Net gas production (Mcf) 29,216 27,020
Natural gas revenues $ 259,973 $ 172,771
Average gas price per Mcf $ 8.90 $ 6.39
Barrels of oil equivalent ("BOE") sold 7,897 8,837
Lease operating and production taxes $ 254,775 $ 103,149
LOE and production taxes per BOE $ 32.26 $ 11.67
Depreciation, depletion and amortization
- oil and gas properties $ 290,000 $ 223,818
DD&A per BOE $ 36.72 $ 25.33
Impairment expense $ - $ -
General and administrative expenses $ 1,390,208 $ 1,132,842
Investment income $ 223,711 $ 67,356
Loss on sale of securities $ 330,804 $ -
This release and the Company's website referenced in this release contain forward-looking statements regarding American Oil & Gas, Inc.'s future plans and expected performance that are based on assumptions the Company believes to be reasonable. A number of risks and uncertainties could cause actual results to differ materially from these statements, including, without limitation, the success rate of drilling efforts and the timeliness of development activities, fluctuations in oil and gas prices, and other risk factors described from time to time in the Company's reports filed with the SEC. In addition, the Company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the Company's control. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the issuance of this press release or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of any unanticipated events. This press release may include the opinions of American Oil & Gas, Inc., and does not necessarily include the views of any other person or entity.
Contact:
Andrew Calerich, President Neal Feagans, Investor Relations
303.991.0173 Fax: 303.595.0709 Feagans Consulting, Inc
1050 17th Street, Suite 2400 - 303.449.1184
Denver, CO 80265
Seems AEZ is still a ways off from any kind of meaningful production,and with no updates on drilling this stock isn't going anywhere even with all the current Bakken hype.
Their BEXP jv in the Mowry shale doesn't appear to be economic yet,and all their other wildcats seem to be languishing.
Anyone have something to add?
tia,
futrcash
Positive news just came out:
http://biz.yahoo.com/prnews/080222/laf028.html?.v=101
American Oil and Gas Provides Drilling and Completion Updates
Monday January 14, 8:00 am ET
DENVER, Jan. 14 /PRNewswire-FirstCall/ -- American Oil & Gas, Inc. (Amex: AEZ - News) provides the following operational update:
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Fetter Project
Hageman 16-34HR well: The Hageman well has recently reached total depth in the targeted Frontier formation and the drilling rig has been removed from the well site. Sidetracking operations in the Frontier, undertaken to maximize the intersection of naturally occurring fracture systems, resulted in three horizontal laterals totaling over 5,200 cumulative feet of lateral well bore, all of which was drilled in zone and will be opened up for production. Completion activities are underway and after completion, the well is expected to be immediately placed on production.
Wallis 6-23 well: The Wallis well has recently been drilled to a total depth of 13,000 feet. The drilling rig has been removed from the well site and completion operations have commenced. The Wallis well is the first vertical well to be drilled by American and partners in the Fetter project and is designed to test multiple prospective formations utilizing multi-stage frac technology. To date, the well has been completed and fracture stimulated in the Dakota formation, the deepest formation of interest in the well. As planned, the Dakota has been temporarily isolated below a cast iron bridge plug allowing completion operations to move up hole. Additional formations, including the Frontier, are prospective in the well. Upon completion and preliminary evaluation of these formations, the Dakota and our other zones of interest will be commingled, tested, and placed on production.
Sims 15-26H well: The 1,165 foot horizontal lateral, drilled into the targeted Frontier formation has recently been artificially fracture stimulated, cleaned up and returned to production at rates during the prior 25 producing days ranging from approximately 650 thousand cubic feet of natural gas equivalent per day to 7.2 million cubic feet of natural gas equivalent per day. The average production over this time period was approximately 1.7 million cubic feet of natural gas and 82 barrels of oil per day. Rates have fluctuated as natural gas production from the well has been affected by the relatively high oil to gas ratios currently being experienced, which is the subject of ongoing engineering, reservoir and production optimization analysis. Because of the high BTU content and the favorable high liquid content of the natural gas that is separate from the oil production (approximately three gallons per mcf), we received a price at the wellhead for November natural gas sales of $6.75 per mcf.
The Wallis 6-23, Sims 15-26H and Hageman 16-34HR wells are being funded by Red Technology Alliance ("RTA") and project managed by Halliburton Energy Services, Inc. ("Halliburton"). American is being carried through the tanks in this phase of the drilling program for a 23.125% working interest in each of the three wells, and currently owns a 92.5% working interest in the approximate 52,000 net (58,000 gross) acre Fetter acreage position. Upon completion of this initial drilling program, RTA will earn a 25% working interest in the undrilled acreage, American will retain a 69.375% working interest and privately held North Finn LLC will retain the remaining 5.625% working interest.
West Douglas Project
State Deep 7-16 well: Completion operations are currently underway in the Mowry formation, the primary objective in the State Deep 7-16 well. Test results from deeper formations yielded minor quantities of oil and natural gas, and information obtained from these deeper formations will assist with future drilling plans in the project area. The State Deep 7-16 well location was chosen to maximize the potential of the Mowry, however completion and testing programs are also planned for several prospective formations above the Mowry in the coming weeks.
Pursuant to the agreement with RTA, 100% of the cost to drill and complete the State Deep 7-16 well is being funded by RTA. American owns a 45% carried working interest in this test well and will retain a 45% working interest in the approximate 47,000 net (55,000 gross) acre West Douglas project area. Halliburton is project manager.
Pat O'Brien, CEO of American commented, "We are currently active on a number of wells in our Douglas and West Douglas project areas and are very pleased with the progress that is being made. RTA is expending the time, money and manpower necessary to gain as much geological and reservoir information as possible from the numerous formations these large acreage positions hold. This time and money will greatly optimize drilling and completion procedures in future wells. Of particular significance in the current program is the production history we are now getting from the Sims well, and will soon receive from the Hageman and Wallis wells, that will allow us to compare the economic and reserve recovery potential from a single zone horizontal well to that of vertical well with multiple formation completions. We look forward to providing additional updates as more information becomes available."
Krejci Project
Krejci Family Trust 32-1H Well: Drilling operations at the Krejci project have recently recommenced with the Krejci Family Trust 32-1H well following an extensive evaluation and study of the various drilling and completion methods used on prior wells. This well is currently at a measured depth of approximately 7,700 feet. Casing has been run through the turn and drilling is currently underway in the horizontal lateral section in the targeted Mowry formation. American owns a 45% working interest in the Krejci Family Trust 32-1H well and in the approximate 127,000 net (132,000 gross) acre Krejci project.
Goliath Project
Solberg 32-2 Well: In November, 2007, the Solberg 32-2 well tested at a restricted flow rate of approximately 2.1 million cubic feet of natural gas and 408 barrels of condensate per day (over 750 barrels of oil equivalent per day) from one interval within the Red River formation. Additional potentially productive intervals within the Red River formation could be tested and if productive, produced at a later date. The Solberg 32-2 well is currently shut-in and waiting on completion of a nearby natural gas processing plant and a pipeline that will connect the well, both of which are expected to be completed and operational before the end of the first calendar quarter of 2008.
American and other joint interest owners in the Goliath project have recently completed a 10.5 square mile 3-D seismic program in the area around the Solberg 32-2 well and are currently processing and interpreting the data. Information obtained from this seismic program will assist in the selection of additional Red River offset locations to the Solberg 32-2 well, and may identify additional Red River targets in this trend.
The Solberg 32-2 well is located within American's approximate 89,000 gross acre Goliath project in Williams County, North Dakota. American owns a non-operated 11.9% working interest (a net revenue interest of approximately 9.5%) in the Solberg 32-2 well. American's working interest in future wells will vary, and could be as high as 50%.
American Oil & Gas, Inc. is an independent oil and natural gas company engaged in exploration, development and production of hydrocarbon reserves primarily in the Rocky Mountain region. Additional information about American Oil & Gas, Inc. can be found at the Company's website: http://www.americanog.com.
This release and the Company's website referenced in this release contain forward-looking statements regarding American Oil & Gas, Inc.'s future plans and expected performance that are based on assumptions the Company believes to be reasonable. A number of risks and uncertainties could cause actual results to differ materially from these statements, including, without limitation, the success rate of drilling efforts and the timeliness of development activities, the Company's dependence on future drilling success, fluctuations in oil and gas prices, and other risk factors described from time to time in the Company's reports filed with the SEC. In addition, the Company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the Company's control. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the issuance of this press release or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of any unanticipated events. This press release may include the opinions of American Oil & Gas, Inc. and does not necessarily include the views of any other person or entity.
Contact:
Andrew Calerich, President Neal Feagans, Investor Relations
303.991.0173 Fax: 303.595.0709 Feagans Consulting, Inc
1050 17th Street, 303.449.1184
Suite 2400 -- Denver, CO 80265
They have a very nice revenue growth from last year.
Also, if you see the balance sheet, they have a bunch of cash with just a little of liabilities. When you see the chart, it had a triple bounce from last August till October. This would be a nice base around $5.25 so that this area would be a good price to buy, just IMO.
Thanks for looking and good luck with your trading.
Full financial statement:
http://finance.yahoo.com/q/is?s=aez
Chart:
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=aez&sid=0&o_symb=aez
Do your DD because trading stock is very risky.
New info in iBox...
You would think AEZ would be up on this news. So far today it isn't. Investors must have expected much more positive news...
Positive news out:
American Updates Goliath Project Activity
Thursday November 15, 8:30 am ET
Solberg 32-2 Well Tests At a Rate of Over 750 Barrels of Oil Equivalent Per day
DENVER, Nov. 15 /PRNewswire-FirstCall/ -- American Oil & Gas, Inc. (Amex: AEZ - News) announced today that preliminary production testing has recently been completed on the Solberg 32-2 well, located within American's approximate 87,000 gross acre Goliath project in Williams County, North Dakota. American owns a non-operated 11.9% working interest (a net revenue interest of approximately 9.5%) in the well which was drilled to a total depth of approximately 14,400 feet as an offset to a Red River formation discovery well that was drilled and is owned by another operator. The Solberg 32-2 well tested at a restricted flow rate of approximately 2.1 million cubic feet of natural gas and 408 barrels of condensate (light oil) per day at an average flowing tubing pressure of 2,500 psi on a 13/64ths choke. Additional potentially productive intervals within the Red River formation have not yet been tested, but could be tested and possibly produced at a later date. The Solberg 32-2 well is currently shut-in and waiting on completion of a nearby natural gas processing plant, which is expected to be operational by year-end.
American and other joint interest owners are currently acquiring additional seismic data by conducting a 10.5 square mile 3-D seismic program in the area around the Solberg 32-2 well. Data obtained from this seismic program will assist in the selection of additional Red River offset locations to the Solberg 32-2 well, and may identify additional Red River targets in this trend. American's working interest in future wells will vary, and could be as high as 50%.
American Oil & Gas, Inc. is an independent oil and natural gas company engaged in exploration, development and production of hydrocarbon reserves primarily in the Rocky Mountain region. Additional information about American Oil & Gas, Inc. can be found at the Company's website: http://www.americanog.com.
This release and the Company's website referenced in this release contain forward-looking statements regarding American Oil & Gas, Inc.'s future plans and expected performance that are based on assumptions the Company believes to be reasonable. A number of risks and uncertainties could cause actual results to differ materially from these statements, including, without limitation, the success rate of drilling efforts and the timeliness of development activities, the Company's dependence on future drilling success, fluctuations in oil and gas prices, and other risk factors described from time to time in the Company's reports filed with the SEC. In addition, the Company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the Company's control. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the issuance of this press release or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of any unanticipated events. This press release may include the opinions of American Oil & Gas, Inc. and does not necessarily include the views of any other person or entity.
So far good relative strength for American Oil & Gas as it's up in a broader market down day...
AEZ seems to be starting to correct from the top end of its trading channel.
Not really. Been flaring off gas for a long time. Tell you the truth, I've had so many other things that have come up over the last couple weeks I forgot about it. I will try to get some on-site DD and phone calls done this week and I will let the board know.
Wyo
Wyo, you been hearing anything new about the well in your area?
here is the PR from our local paper
http://www.douglas-budget.com/articles/2007/05/30/news/local_news/news10.txt
Hello, I watch their Bakken play in No. Dak. They have a well coming online there. What have you been hearing in your area? Is it concerning the well RTA is drilling?
Anyone around here? AEZ is drilling or has drilled a well just north of here that appears to be a nice one. They are still working it, and I think drilling horizontal at this time. Anyone know anything or have much info on the company? I have been looking for an active board on AEZ or any recent information concerning their drilling in Wyo and haven't found anything.
The information I received yesterday was after the markets closed, but sounded like it could be good. I am going to try to do some research over the long weekend and hopefully pick up some shares Tuesday if I can get my DD done. Any information on places to look is appreciated.
Wyo
Active forum is =
http://www1.investorvillage.com/smbd.asp?mb=587&clear=1&pt=m
Teton Energy Provides Third Quarter 2006 Operations Update
Wednesday November 8, 8:00 am ET
Third Quarter 2006 Production Volumes Increase 487 Percent Over Third Quarter 2005
DENVER, Nov. 8 /PRNewswire-FirstCall/ -- Teton Energy Corporation ("Teton") (Amex: TEC - News) today provided an operations update on its Piceance, Denver-Julesburg and Williston Basin projects.
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Piceance Basin. To date, Teton has participated in the drilling of 26 gross wells on its 6,315 gross acre project in the Piceance Basin with Berry Petroleum (NYSE: BRY - News), as operator. Teton has a 25 percent working interest with approximately 628 gross locations on 10-acre spacing. During the third quarter 2006, Teton participated in the drilling of five gross wells. Of the total 26 wells, 20 wells are currently producing and flowing to sales, four wells are waiting on completion, and two wells are currently drilling.
Estimated net production volumes for the quarter ended September 30, 2006 were 264 million cubic feet ("MMcf"), averaging 2.9 million cubic feet per day ("MMcfd"). This represents an increase of 487 percent from the third quarter 2005 net production volumes of 45 MMcf, averaging 0.5 MMcfd.
Denver-Julesburg Basin. To date, Teton has participated in the drilling of 17 wells as part of the initial pilot program on the Area of Mutual Interest with Noble Energy, Inc. (NYSE: NBL - News; "Noble Energy"). Teton announced on November 7, 2006 that it had purchased an additional 56,000 gross acres in the DJ Basin (42,000 net). This purchase, along with acreage added over the past several months brings the Company's gross acres dedicated to the eastern DJ project to 266,000. As part of the agreement with Noble Energy, Teton is being carried on the first 20 wells. After completion of the first 20 wells, Teton and Noble Energy will split all costs associated with future drilling according to each party's working interest percentage; Teton, 25 percent and Noble Energy, 75 percent. Teton will receive 25 percent of any revenues derived from the first 20 wells.
All 17 wells that have been drilled reached a minimum target depth of 2,000 feet, where the target zone is the Beecher Island Chalk, a member of the Niobrara formation. The average drilling time for each well is 1.5 days.
Seven wells have been drilled in the Chundy prospect area, located in Chase and Dundy Counties, Nebraska: the Jones #12-31, Jones #32-31, State #44-36, the Ambrosek #11-5, the Jones #31-31, the Jones #41-31 and the Jones #42-31. The Jones #12-31, the Jones #31-31, the Jones #41-31 and the Jones #42-31 have been logged, cased and are waiting on completion. The Jones #32-31 and Ambrosek #11-5 wells have been perforated and fracture stimulated. The fracture stimulation was successful, staying within the Beecher Island zone. The Jones #32-31 and Ambrosek #11-5 wells are currently testing gas and water production to determine commercial viability. The State #44-36 well was plugged and abandoned based on log evaluation.
Ten wells have been drilled in the Grant prospect area, located in Perkins County, Nebraska: the Karre #42-26, State #11-36, Hagan #41-27, Karre #31-26, Hagan #22-26, the Kroeker #11-25, the Hagan #21-26, the Hagan #31-27, the Malmkar #44-22 and the Kroeker #14-24. The Karre #42-26, the Karre #31-26, the Hagan #21-26, the Hagan #31-27, the Malmkar #44-22 and the Kroeker #14-24 have been logged, cased and are waiting on completion. The Hagan #41-27 and the Kroeker #11-25 are currently testing gas and water production to determine commercial viability. The State #11-36 and Hagan #22-26 wells were plugged and abandoned based on log evaluation.
The Company and its partner are currently in the process of completing a gathering system in the Grant and Chundy areas to gain access to the Kinder Morgan pipelines, Pony Express in Chundy and Trailblazer in Grant. The pilot program may also include further 2-D and 3-D seismic evaluation.
Williston Basin. Teton is participating in the drilling of its first prospect on its Goliath leasehold of approximately 90,000 gross acres, 16,000 net to the Company's interest. The Champion 1-25H well, located in Section 24 and 25 of T157N - R97W in Williams County, North Dakota is targeting the Mississippian Bakken Formation as the primary target zone. This horizontal, tri-lateral well is currently starting the second lateral after drilling the initial west lateral. Following the drilling of the three laterals, it is expected that the well will be fracture stimulated and will go through a production testing period. Teton will have 25 percent working interest and 20 percent net revenue interest in this Williston Basin well. The partnership consists of American Oil and Gas, Inc. (Amex: AEZ - News; 50 percent working interest) and the designated operator, Evertson Operating Company (25 percent working interest).
"Driven by 487 percent year over year production growth from our Piceance project, the third quarter was very successful operationally for Teton," Andrew Schultz, Vice President of Production, stated. "We are cautiously optimistic about the preliminary results from the DJ Basin. Momentum remains strong as we continue drilling out our inventory covering all three projects. Our overall goal is for our drilling program to increase the realization of net asset value for our shareholders."
For a detailed map of the each of the projects' acreage blocks and well locations, please visit the Company's website at www.teton-energy.com
Conference Call Information. Teton invites you to listen to its third quarter 2006 results conference call via telephone or live webcast on Tuesday, November 14, 2006 at 11:30 a.m. Eastern, 9:30 a.m. Mountain time. To listen via telephone, dial (888) 202-2422 ((913) 981-5592 for international callers) five to ten minutes before the start of the call. A replay will be available through November 21, 2006 by dialing (719) 457-0820, pass code 2869142. The live conference call may also be accessed on the Internet by logging onto Teton's website at www.teton-energy.com. Select Investor Relations, then the webcasts and Presentations option on the menu. Log on at least ten minutes prior to the start of the call to register, download and install any necessary audio software. An audio replay of the call will also be available on the Company's website.
Company Description. Teton Energy Corporation (Amex: TEC - News), is an independent oil and gas exploration and production company based in Denver, Colorado. Teton is focused on the acquisition, exploration and development of North American properties and has current operations in the Rocky Mountain region of the U.S. The Company's common stock is listed on the American Stock Exchange under the ticker symbol "TEC". For more information about the Company, please visit the Company's website at www.teton-energy.com.
As the drilling steps west of the Nesson Anticline here is what they are finding so far.
This is the American well number
NDIC File No: 16332
Well Type: ON CONFIDENTIAL STATUS
Current Well Name: EVERTSON AOG CHAMPION 1-25H
Field: WILDCAT
This is the Marathon well that rumor calls to be a good well
NDIC File No: 16285
Well Type: ON CONFIDENTIAL STATUS
Current Operator: MARATHON OIL COMPANY
Current Well Name: FOSS 21-30H
Field: WILDCAT
This is one of the smaller wells
NDIC File No: 16030
Current Operator: PDC CORPORATION
Current Well Name: VIOLET OLSON 31-29
IP Test Date: 3/6/2006 Pool: BAKKEN IP Oil: 126 IP MCF: 128 IP Water: 234
Pool Date Days BBLS Oil Runs BBLS Water MCF Prod MCF Sold Vent/Flare
BAKKEN 8-2006 31 1014 1072 653 2320 2198 0
BAKKEN 7-2006 31 1117 1115 772 2694 2539 0
BAKKEN 6-2006 30 1313 1529 1087 3210 3114 0
BAKKEN 5-2006 22 1496 1262 1928 4166 4166 0
BAKKEN 4-2006 24 1484 1716 913 2848 2409 439
BAKKEN 3-2006 19 2691 2257 1062 3716 272 3444
Here is a well close by the American property.
NDIC File No: 16086
Status Date: 5/27/2006
Current Operator: MUREX PETROLEUM CORPORATION
Current Well Name: ERIN LYNN 3-10H
IP Test Date: 5/27/2006 Pool: BAKKEN IP Oil: 303 IP MCF: 393 IP Water: 0
Pool Date Days BBLS Oil Runs BBLS Water MCF Prod MCF Sold Vent/Flare
BAKKEN 8-2006 23 7728 7563 0 11690 11690 0
BAKKEN 7-2006 31 7619 7259 0 10351 10351 0
BAKKEN 6-2006 26 2945 3446 0 3493 3493 0
BAKKEN 5-2006 6 1175 407 0 1249 1249 0
Here is another one.
NDIC File No: 15683
Current Operator: MUREX PETROLEUM CORPORATION
Current Well Name: STACEY-LYNNE 1-12H
IP Test Date: 3/10/2005 Pool: BAKKEN IP Oil: 436 IP MCF: 512 IP Water: 12
Pool Date Days BBLS Oil Runs BBLS Water MCF Prod MCF Sold Vent/Flare
BAKKEN 8-2006 21 1548 2493 0 2183 2183 0
BAKKEN 7-2006 31 3431 2954 0 3376 3376 0
BAKKEN 6-2006 30 3423 3925 0 3721 3721 0
BAKKEN 5-2006 31 3611 3280 0 4250 4250 0
BAKKEN 4-2006 30 3615 4288 0 4036 4036 0
BAKKEN 3-2006 31 3898 3036 0 4628 4628 0
BAKKEN 2-2006 28 3903 3698 0 3862 3862 0
BAKKEN 1-2006 31 4103 5025 0 4529 4529 0
BAKKEN 12-2005 31 4074 3529 0 4398 4398 0
BAKKEN 11-2005 30 4238 4128 0 4857 4857 0
BAKKEN 10-2005 31 4976 5118 0 5725 5725 0
BAKKEN 9-2005 30 4941 4805 0 6377 6377 0
BAKKEN 8-2005 31 4981 4946 0 5611 5611 0
BAKKEN 7-2005 31 5317 5441 0 5131 5131 0
BAKKEN 6-2005 9 1365 878 274 1051 1051 0
BAKKEN 5-2005 5 407 441 98 529 0 529
BAKKEN 4-2005 15 3390 3656 43 4407 0 4407
BAKKEN 3-2005 25 8814 8394 107 11458 0 11458
BAKKEN 2-2005 4 1514 1514 0 1968 0 1968
BAKKEN 1-2005 25 1023 1023 0 1330 0 1330
Teton Energy (TEC) owns 25% of the American Bakken play. They have a low float. Here is a PR released concerning a find in the DJ Basin
http://www.wallst.net/news/news.asp?Source=QUOTEMEDIA
Here is a press release on one of Americans Wells in Wyoming that is being completed. This is the well that American announced that they are very excited about.
Click here: http://www.turnkeyep.com/docs/10%2012%2006%20Turnkey%20Inc%20Operations%20Update.pdf
A second discovery well in a separate area of Wyoming is being tested and completed (Krecji Federal 3-29) It is apparently commercial because the driller, Brigham Exploration has applied for and received a permit for a second well to spud in late October (Mill Truse 1-12H).
http://phx.corporate-ir.net/phoenix.zhtml?c=99916&p=irol-newsArticle&t=Regular&id=913627...
In the early 80's there was a well drilled vertically on the American drill site. It has since been plugged, but at the time they logged the Bakken. Here is a log comparison of the American prospect to a another Bakken well 9 miles east of this site. The comparison well came in at 400 barrels per day. The American site according to audio testimony to the North Dakota Oil and Gas commission during the permitting process indicates the company feels that they have 6 percent porosity and hope to make a 400 barrel per day well. Check this website and scroll down to see the comparison log. You will notice the Bakken looks good, however the cross section is not as thick as the comparison well. http://webpages.charter.net/oilandgas/
deano, have you scared up anything else? The giant is stirring a little--nice little jump today.
Whiting Petroleum has been drilling a well 3 miles south of the American Oil location. The well is completed, but they have not released any news on it yet. Interesting though is that they just were approved to drill another well adjacent to this one to the North. I would take this as an indication that they have made a good well out of the first one. This new location is two sections south of the American well.
NDIC File No: 16396 API No: 33-105-01595-00-00
Well Type: OG Well Status: LOC Status Date: 10/4/2006 Wellbore type: VERTICAL
Location: NESW 2-156-97 Footages: 1520 FSL 1980 FWL Latitude: 48.360829 Longitude: -103.122249
Current Operator: WHITING OIL AND GAS CORPORATION
Original Operator: WHITING OIL AND GAS CORPORATION
Current Well Name: PERDUE 23-2
Original Well Name: PERDUE 23-2
Elevation(s): 2259 GL Total Depth: Field: RAY
Completion Data
Pool: DEADWOOD Status: LOC Date: 10/4/2006
Here is a comment from my oil company contact in North Dakota:
I heard they found oil and gas in the Red River with the Foss well. It looks like they are going to drill another well looking for deep gas. The Deadwood is even deeper than the Red River. It produced gas on the Nesson Anticline which is 10-miles roughly to the east. There is good chance they will find gas there too if they are on a structure.
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