Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Nice "scraps" to have on your plate......... or to put in your pipe to smoke!
LTG, excellent advice.
Exactly right,Oilman.
"CB treats us like a bunch of day traders and to this point doesn't seem to think we need to know. Well, guess what, what goes around comes around. He should be more careful when he tries to cut of the hand that feed him. Now he wants your vote."
From my business experience, when trying to acquire a significant property or making major organizational changes, it is generally counterproductive to announce to everyone the gameplan in advance: "I am going to do this, followed by that and if that goes well, I will be doing this, this and this."
I trust CB based on what he has done in the past few years under very difficult circumstances.
"What other things could CB want to do with the cash from the proposal? Well, he might have found some leases that he feels he can purchase at distressed prices. Did CB use the proceeds from previous stock sales to good advantage? Have the leases he purchased and rigs he purchased increased in value? If the answer is "yes", then there is no reason for me to worry about how CB might spend the money."
This is the vision thing many seem to be missing at this juncture. Does anyone remember how T. Boone Pickens acquired wealth in the 1980s? Did he take the same path as others in the oil patch or did he acquire land? Think about it in lieu of GRs comments.
Yeh, right! Relax, friend, it always appears darkest before the dawn and if you really think of what has transpired and the hurdles that have been overcome as of late, you'll see the beauty of the timing.This is a company on the move in the direction I have long thought it capable of achieving.
Rook, you and pseeker make an interesting pair.
Dart and all depressed shareholders: where's the vision you all have been talking about? The vision is unfolding before your eyes.
I'd love to get a bag full of shares in the .04s.
It is important to step back and allow yourself to think (really think and not just react) or you will surely "miss the big picture" of what is taking place here. I am more positive than ever about AMEP. CB, you're da man. Great timing and a true grit, oilman call.
This event, in retrospect, will be viewed as an important foundation block in the history of AMEP. IMO, we will soon -- very soon -- see the beginning of a series of good (if not excellent) production reports, along with other positive PRs about new leases, followed by the 1st non BDC Quarterly Filing in Mid August. By that time, we will see a sea change in attitude about a RS. Holding all of my shares and buying on, if not from, dips. GLTA
Boom, welcome to the show
Ladies and gentlemen please
Would you bring your attention to me?
For a feast for your eyes to see
An explosion of catastrophe
Like nothing youve ever seen before
Watch closely as I open this door
Your jaws will be on the floor
After this youll be begging for more
Welcome to the show
Please come inside
Ladies and gentlemen
Boom
Do you want it?
Boom
Do you need it?
Boom
Let me hear it
Ladies and gentlemen
Boom
Do you want it?
Boom
Do you need it?
Boom
Let me hear it
Ladies and gentlemen
Ladies and gentlemen good evening
You've seen that seeing is believing
Your ears and your eyes will be bleeding
Please check to see if youre still breathing
Hold tight cause the show it not over
If you will please move in closer
Your about to be bowled over
By the wonders youre about to behold here
Welcome to the show
Please come inside
Ladies and gentlemen
Boom
Do you want it?
Boom
Do you need it?
Boom
Let me hear it
ladies and gentlemen
Boom
Do you want it?
Boom
Do you need it?
Boom
Let me hear it
welcome to the show
were glad u came along
please come inside
ladies and gentlemen
Boom
Do you want it?
Boom
Do you need it?
Boom
Let me hear it
ladies and gentlemen........
BSD, you wrote that the "Injection well PR means more than almost all know". Are there other important factors besides saving the cost of trucking it out and the manpower involved? Or, were you making the point that these savings are much greater than most realize? Will they be able to use this injection well for other Padgett wells drilled in the future? Thanks much.
Do you suppose CB wants to see what he has with the Nash-Murphy #1 before he PRs the Padgett 11 and 12?
As an oil/NG novice, I really appreciate the educational posts this weekend. Best to all.
BSD, welcome back. Your insights were always helpful. Have you been to the drilling sites lately?
Thanks, Bobwins, for your post. Readers should keep in mind that the recent 10Q is the last of AMEP's Business Development Corporation (BDC) reports. The important thing to know about BDC reports is that no revenue ever shows up from the portfolio companies, i.e., there is no transparency. That's the major reason the shareholders recently voted to change AMEP from a BDC to an operating company:
"As previously reported AMEP recently received shareholder approval and withdrew its election to be a business development company. As a result, AMEP is now a oil and gas operating company that's business focus is the purchase, exploration, drilling and operation of oil and natural gas leases in the Fort Worth Basin and Medina County, Texas. Additionally, entities previously classified as portfolio companies of AMEP are now wholly owned subsidiaries."
Bottom line: AMEP's financial from here on out will be much more informative.
In regard to AMEP's financials, keep in mind that the recent 10Q is the last of AMEP's Business Development Corporation (BDC) reports. The important thing to know about BDC reports is that no revenue ever shows up from the portfolio companies, i.e., there is no transparency. That's the major reason the shareholders recently voted to change AMEP from a BDC to an operating company:
"As previously reported AMEP recently received shareholder approval and withdrew its election to be a business development company. As a result, AMEP is now a oil and gas operating company that's business focus is the purchase, exploration, drilling and operation of oil and natural gas leases in the Fort Worth Basin and Medina County, Texas. Additionally, entities previously classified as portfolio companies of AMEP are now wholly owned subsidiaries."
Thanks, Lowman, for your review of AMEP filings. Readers should keep in mind that the recent 10Q is the last of AMEP's Business Development Corporation (BDC) reports. The important thing to know about BDC reports is that no revenue ever shows up from the portfolio companies, i.e., there is no transparency. That's the major reason the shareholders recently voted to change AMEP from a BDC to an operating company:
"As previously reported AMEP recently received shareholder approval and withdrew its election to be a business development company. As a result, AMEP is now a oil and gas operating company that's business focus is the purchase, exploration, drilling and operation of oil and natural gas leases in the Fort Worth Basin and Medina County, Texas. Additionally, entities previously classified as portfolio companies of AMEP are now wholly owned subsidiaries."
Lowman, did you see the AMEP PR a few days ago? Because of the implications, AMEP bears close watching in the coming weeks, IMO. Here's the key paragraph from the PR:
"Fracture stimulations and completions can now be completed on the Padgett 11-H and 12-H Barnett Shale wells already drilled and cased. Natural gas and oil production results well be reported by the Company as soon as the wells are completed."
So, we should be getting production results for the two Barnett Shale wells, one vertical, the other horizontal, in the very near future.
The Padgett #12 is 'horizontal' drilled and it is already cased. It has been financed on AMEP O&NG cash flow, with no loans, no joint ventures and no shares sold. These wells are certain to be productive because they would not have drilled the horizontal well (#12) next to the already drilled vertical well (#11) -- considering they have 7,000 acres of leased land to drill on -- and they would not have announced these wells this way if they were not confident of good production and they surely would not have cased both holes unless they were going into production.
Also of note is that they have a nearly cost free salt water injection disposal well close by that has been approved by the TRRC.
If the Padgett wells are productive, as expected, they will be able to turn not only one, but both of their big rigs into production.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Posted by: contractor10940 on AMEP's investors hub board
In reply to: None Date:5/30/2007 10:10:39 PM
Post #of 23797
Remember the RRC GIS public viewer...?
Pull up operator # 841394 on a W-1. Pick out the Padgett leases and their API's. Write down those same Padgett wells and pull up a general production query.
http://webapps.rrc.state.tx.us/DP/initializePublicQueryAction.do
http://webapps.rrc.state.tx.us/PDQ/home.do
Nice numbers coming from the Padgetts....
Now run Proco's Padgett lease API's,
Whats the distance from AMEPs Padgett 11/12 to Telesis' Padgett's A & B
http://gis2.rrc.state.tx.us/public/
Whats the next adjective after Ginormous?
Posted by: contractor10940 on AMEP's investorshub board:
In reply to: None Date:5/30/2007 10:10:39 PM
Post #of 23797
Remember the RRC GIS public viewer...?
Pull up operator # 841394 on a W-1. Pick out the Padgett leases and their API's. Write down those same Padgett wells and pull up a general production query.
http://webapps.rrc.state.tx.us/DP/initializePublicQueryAction.do
http://webapps.rrc.state.tx.us/PDQ/home.do
Nice numbers coming from the Padgetts....
Now run Proco's Padgett lease API's,
Whats the distance from AMEPs Padgett 11/12 to Telesis' Padgett's A & B
http://gis2.rrc.state.tx.us/public/
Whats the next adjective after Ginormous?
Did you see the AMEP PR a few days ago? Because of the implications, AMEP bears close watching in the coming weeks, IMO. Here's the key paragraph:
"Fracture stimulations and completions can now be completed on the Padgett 11-H and 12-H Barnett Shale wells already drilled and cased. Natural gas and oil production results well be reported by the Company as soon as the wells are completed."
So, we should be getting production results for the two Barnett Shale wells, one vertical, the other horizontal, in the very near future.
The Padgett #12 is 'horizontal' drilled and it is already cased. It has been financed on AMEP O&NG cash flow, with no loans, no joint ventures and no shares sold. These wells are certain to be productive because they would not have drilled the horizontal well (#12) next to the already drilled vertical well (#11) -- considering they have 7,000 acres of leased land to drill on -- and they would not have announced these wells this way if they were not confident of good production and they surely would not have cased both holes unless they were going into production.
Also of note is that they have a nearly cost free salt water injection disposal well close by that has been approved by the TRRC.
If the Padgett wells are productive, as expected, they will be able to turn not only one, but both of their big rigs into production.
Did you see the AMEP PR a few days ago? Because of the implications, AMEP bears close watching in the coming weeks, IMO. Here's the key paragraph:
"Fracture stimulations and completions can now be completed on the Padgett 11-H and 12-H Barnett Shale wells already drilled and cased. Natural gas and oil production results well be reported by the Company as soon as the wells are completed."
So, we should be getting production results for the two Barnett Shale wells, one vertical, the other horizontal, in the very near future.
The Padgett #12 is 'horizontal' drilled and it is already cased. It has been financed on AMEP O&NG cash flow, with no loans, no joint ventures and no shares sold. These wells are certain to be productive because they would not have drilled the horizontal well (#12) next to the already drilled vertical well (#11) -- considering they have 7,000 acres of leased land to drill on -- and they would not have announced these wells this way if they were not confident of good production and they surely would not have cased both holes unless they were going into production.
Also of note is that they have a nearly cost free salt water injection disposal well close by that has been approved by the TRRC.
If the Padgett wells are productive, as expected, they will be able to turn not only one, but both of their big rigs into production.
Has anyone received rounded up shares with Scottrade?
Agreed. Many expected the PR $hit to hit the fan early this week. If you are a believer, and there is no PR this week, and with the holiday coming on the 28th, there will likely be a few weeks of "buying opps" ahead! Time for a gut check; though, on the other hand, to sell now with the low volume... Good luck.
GR, you have provided an excellent analysis of what has been gathered through a variety of painstaking DD efforts during this long quiet period (soon to be ending!) by several hardworking members of this board. Many thanks to you, contractor, GEH and all others who have contributed to this effort.
Falconer is the author, I simply reposted his excellent work which was completed several months back with the hope that he might provide any updated analysis.
Falconer66a, any updates on your previous post? Thanks much.
~~~~~~~~~~~~~~~~~~~~~~~~~
Scenarios for AMEP’s Future—2007 and Beyond
By the end of 2007, American Energy Production, Inc., will not be the company it is today. Dramatic changes are in store. Current and potential investors would be wise to examine the several possible outcomes for the company. Here, I have outlined my personal potential scenarios. They are decidedly my own. They should not be the basis for anyone’s investment in the company. For my own personal consideration, and to help me continue make profitable decisions about the company, I’ve outlined all of the reasonably potential outcomes I can foresee for AMEP in 2007 and beyond.
--A New Beginning Beyond the BDC--
With the imminent resolution of the SEC-contested business development company (BDC) organization of AMEP and its holdings, the company’s corporate assets will become fully known to the investment world. Presently, they are not. There is no doubt that AMEP owns drilling lease rights to over 7,000 acres on the universally productive Barnett Shale in Texas. Furthermore, AMEP holds these drilling rights unshared with other companies. Therefore, oil and natural gas (O&NG) revenues accrued from these lease holdings will be diluted only by standard landowner royalties and taxes. Those are not inconsequential, but they do not approach the fractional revenue split among multiple corporate entities on wells jointly owned or operated.
In short, AMEP has full net working interests in virtually all of the wells it will drill, and those wells will all be on the vaunted Barnett Shale and other productive geological strata above the shale. From my standpoint, neither of these factors have been entered into any official AMEP Net Asset Valuation (NAV), accounting in part for the currently low (Dec. 06) share price.
--The New Padgett Well--
With the recently filed application to drill a new AMEP well near the completed Padgett Ranch #11 well, there is evidence that the Padgett #11 will be very productive. High closed-in pressures are known to be a factor in the completed #11, but any real production results have not been announced. But inasmuch as AMEP has thousands of acres of other lease rights upon which to drill its next well, the only sensible reason to install the new one just a hundred yards or so from #11 would be because #11 is known to be a great producer.
If the two wells on the Padgett Ranch are highly productive, others owned by AMEP will be drilled there in coming months. The assets of these wells have not entered into any publicly-announced NAV.
--Two Drilling Rigs – Insufficient Current NAV--
Secondly, AMEP owns two functioning drilling rigs, along with other ancillary drilling equipment and supplies. Investors will discover that vast acreages of the Barnett Shale sit undrilled-upon for lack of drilling rigs. Many O&NG companies own drilling rights over the Barnett Shale, but own no drilling rigs themselves. Rigs are in short supply and are rented out at high day-rates. AMEP does not have to stand at the end of a long line of small O&NG companies attempting to arrange favorable drilling rents or schedules. With their two wholly-owned rigs, AMEP can drill in-house, with no additional costs or delayed scheduling. This is a major corporate asset, as yet also not factored into any realistic public NAV.
Altogether, I am fully convinced that the current share price (less than 10 cents) is only a fraction of the company’s dissolution value. Others who are current on the issue have speculated that a sale of the company’s drilling leases alone are worth something in the range of 7 cents a share or more. The ability to drill on the company’s own leases with its own two drilling rigs is as yet unaccounted for in the daily share price.
As I mentioned, the company also owns additional drilling, storage, and transport equipment, all of which will facilitate getting extracted product to market. A number of leases are adjacent to or under working NG transmission lines that will bring product conveniently to market.
Again, it is abundantly clear that the AMEP NAV is markedly higher than reflected in its current low share price. The general market is ignorant of AMEP’s total corporate assets.
But all of that is supporting background material, not a reasonable estimation of any future worth, the real purpose of this article. What, then, might be some reasonable, evidence-based projections for AMEP in 2007 and the ensuing years? Let’s get started.
--Worst Possible Projection--
I will start with what I imagine would be a worst possible outcome, where everything imaginable turns out wrong. I’ll presume, for example, that neither the Padgett #11 nor any other AMEP well is able to produce any profit. I’ll presume that all of the wells to be drilled in 2007, for whatever reason (hard to imagine) turn out to be moderate, low-yield wells.
This will presume that by December 2007, try as hard as it might, AMEP was not able to generate any significant operating funds, that corporate revenues continued to be negligible or absent. The share price result? AMEP would be worth somewhere just under a dime a share. In folding, the company would sell off its two major assets, its drilling rigs and associated equipment, and also its rights to drill on 7000 acres of the Barnett Shale.
That’s the first scenario, the worst—and least likely. Even if it were to happen, I would more than double my early investment in AMEP. In two years I have acquired over 2.6 million shares, at an average cost of 3.3 cents each. A close-out sale at 7 to 10 cents would be very profitable—but I don’t think this is a reasonable outcome. Other potential investors will have to make their own decisions on this.
There is every reason—geological, engineering, oil field experience, and many others—to believe that AMEP’s new wells are and will be highly productive. All ensuing projections merely set out potential well completions and production numbers. From those, round ballpark production and revenue yields can be calculated. Here are the factors I’ve used to come up with in my projections.
--The Two Central Success Factors--
The first question is how many wells can the two AMEP rigs and their crews complete in 2007 and beyond. The second question is how many production dollars will flow to the company from each well. I’ve created a spreadsheet with both of these factors, and the numbers—even at the lowest production levels—are orders of magnitude beyond the current sub-dime share price.
How many wells might the AMEP crews drill in 2007? Of course, it depends upon how quickly they can drill each single well. For my projections, I created a possible well-completion range. At the lowest, where each well requires six weeks to complete and bring on line, two drilling rigs and crews could complete 17 wells. (I’m presuming a 50-week operating year in all calculations.)
I understand, however, that Barnett Shale wells should never take this length of time to complete. For the shortest drilling times, I’ve presumed a typical well could come on line after just 3 weeks of drilling time. Two rigs punching wells at 3-wk. intervals could complete 33 in a year.
So, at the low end, we could expect AMEP to have 17 new wells at the end of December, 2007, or at the high end, a total of 33.
The next factoring question is how many dollars of revenue will accrue to the company from each of its wells. Using existing wells over the Barnett Shale for guidance, it appears that virtually all of them produce some oil or natural gas. It could be presumed that poor Barnett wells would yield one or two million dollars annually. But there is every indication from the Padgett #11 that this will not be the case. If it were, why would the experienced people running AMEP deliberately choose to put their second well as close to the #11 as legally allowed? And because few other known Barnett Shale wells are poor producers, I’ve elected to discard the one to two million dollar yields/well. There is no evidence whatsoever to support such low numbers.
--Production Projections--
Consequently, I’m starting my low-end production numbers at $3 million per well per year. Like other “monster” Barnett wells, the Padgett #11 could easily be two or more times as productive. It could yield anywhere from five to eight million dollars of revenues in its first years of production.
Production from the Padgett #11 will not indicate what the adjacent new Padgett #12 will yield. I didn’t mention that the new well is authorized for horizontal drilling, sending a shaft sideways deep into the producing stratum. The #11 was only a short vertical puncturing of the local pay zone, taking O&NG from a single short column of hydrocarbon-bearing strata. The new Padgett well will turn sideways deeply into the pay zone. Consequently, it must yield some multiple of the #11.
At the high end, I’m presuming an annual production yield of $5 million per well. Both of the Padgett wells may be much higher, but just to be conservatively safe, I’ll presume a $5 million high average. If this can be realized—and it’s not totally unreasonable—the results for investors will be stunning.
So what are calculated projections at various well numbers and production results? They are these.
--Total Projected Results--
At the lowest end I have presumed AMEP will be able to complete and bring online only 15 wells in all of 2007. Additionally I presume that the average revenue yield to AMEP will be just $3 million per well. That’s a gross corporate revenue stream of $45 million. There is every reason to believe that AMEP’s gross revenues for 2007 will be at least at these levels or higher.
Now at the high end, should everything go forth perfectly, the numbers are these. In this case, I’ve presumed that AMEP drills and rigs completed wells in just 3 weeks each, yielding 33 for the year. But for simplification, let’s presume a round 30 new wells in 2007.
Let’s also presume that average well revenues coming to the company will be $5 million per well. That’s a total gross revenues sum of $150 million. (These are no longer “mom and pop” numbers.)
On the lowest end, I’m seeing corporate revenues of $45 million, with $150 millions at the highest end.
--The Mid-range Projection--
I don’t think either one of these will be accurate. If I had to make a single bet, I’d toss my dice at a, say, 60 to 80 million dollar range, right in the middle.
The results for AMEP shareholders at any of these amounts, high, low, or medium, will be rewarding. What might AMEP share prices be toward the end of 2007? Let’s take a look.
--2007 Share Price Projections--
Let’s start at the high end. Share prices depend primarily (but not exclusively) on two things, the number of outstanding shares to which dividends would be distributed, and current Price to Earnings or P/E ratios. AMEP is authorized to issue up to 500 million shares. The current number of shares is somewhere in the 480s, I believe. For convenience and simplicity, I’ll presume that all 500 million shares are outstanding and being traded.
With a gross corporate income of $150 million, divided among 500 million shares, the maximum possible dividend would be 30 cents. Of course, because of operating costs, royalties, taxes, and other factors, any dividend would not be at this level. But that’s not a concern as AMEP is not likely to issue dividends in 2007 anyway. It would be best to retain all free revenues to invest in new leases, drilling equipment, or other projects that would enhance future shareholder values.
But let’s presume the 30 cent earnings per share number. At a low P/E of 10:1, that would yield a share price at the end of 2007 of three bucks. But a P/E of 10:1 is likely to be low. I think a 15:1 ratio is possible, even reasonable. That would result in an AMEP share price of $4.50.
Most investors would question either of these elevated projections, and rightfully so. Everything has to go just so for these to be realized in 2007.
What are the numbers down at the low end? A corporate revenue stream of $45 million divides into earnings of about 9 cents per outstanding share. At a P/E of 10:1 the end-of-year share price should be around 90 cents. At a 15:1 P/E the share price will be $1.35.
That’s at the very reasonable low end of projections. In the middle, at say $60 million dollars of revenues, the 10:1 P/E will be $1.20, with the 15:1 ratio being $1.80.
In summary, my year-away share price projections range from $0.90 to $4.50. Both the low and the high numbers are possible. If I’m way short, by a factor of two on the low end, a year-end share price in 2007 of only $0.45 would still be an almost 9x gain over the late December 2006 share price. A mid-range share price of $1.20 will be an approximate 20x gain for the year.
--Investing in AMEP for the Long Term--
Anyone who invests in AMEP only with the thought of selling out at the end of 2007 is essentially a trader, not an investor. Nowhere here have I projected new wells and their revenues out into 2008 and 2009. With two drills and crews it is impossible to saturate AMEP’s 7000 acres in one year. AMEP will be drilling new wells for the next several years. When they saturate their own leases, they can cost- and revenue-share new wells on lands leased by other companies who don’t own their own rigs. In all cases, AMEP revenues can be projected to ramp upward for the foreseeable future. My projections have been only for 2007. I intend to sell very, very few (if any) of my shares in the coming year.
AMEP share prices toward the end of the decade and into the next are likely to approach or exceed $10 per share. But those numbers are too far in the future. Astute investors should focus presently on 2007. It will be a remarkable year for those who decide to purchase at the current low prices.
Again, I caution that these are figures I determined for my own consideration. I present them only as a prompt for others to undertake their own detailed due diligence. No one, regardless of the grand potential of AMEP presented here should invest with anything other than thoroughly discretionary funds, the ones that might otherwise have been discarded on a tropical vacation, a hobby sports car, or any other similarly peripheral or non-essential expenditure.
For those of us who have held AMEP shares for the long term, for two years or more, the trek to the edge of financial greatness for this company has been slow and fitful. All of us would have presumed more rapid progress. But the time has arrived. Now, with the impending reorganization, with the dumping of the BDC status, and with the new wells being drilled and completed, 2007 will be the first year of reward with this company. There will be many more in the future, I believe.
--Falconer66a
Natural Gas: In Texas, By Texas, For Texas
by Elizabeth Ames Jones
Chairman Texas Railroad Commission
Published: 04-23-07
Texas is booming. With 23.5 million Texans within our borders, it takes a lot of energy to keep the lights on in our bustling state. With Texas poised grow to over 33 million in the next 25 years, we’ll need every power tool in the energy toolbox to meet our future energy needs and to keep our economy churning.
We’re fortunate in the Lone Star State to have ample resources to meet many of our energy needs. In fact, Texas leads all other states in total production of energy. We are the number one oil refinery state and the largest producer of wind power in the nation.
The Colonial pipeline out of Houston is the largest refined product pipeline in the U.S. Texas also holds the number one spot for natural gas production in the continental U.S., producing over 33% of domestic natural gas in the U.S. in 2006. In fact, last year, Texas produced more natural gas than the state consumed, indicating there’s more than enough natural gas beneath Texas soil to meet our state’s needs today and tomorrow.
Texas is awash in good news about natural gas. Exciting new technologies have opened a wealth of opportunity in plays like the Barnett Shale in north Texas where thousands of wells are tapping into the second largest natural gas field in the continental U.S. Spread over 8 million acres, the Barnett Shale natural gas field alone produces at least 10.4% of all natural gas produced in Texas. Similarly, counties in deep South Texas contribute at least equal amounts of the fuel to our production totals. A recent study by the University of Texas at Austin says that non-conventional drilling techniques, like those used in the Barnett Shale, and the development of liquefied natural gas (LNG) facilities indicate that the United States is entering an exciting period of natural gas development. This trend translates to bolstered stability of the natural gas supply for Texas and all Americans.
In addition to helping with energy security, natural gas is good for the environment - an important consideration in our discussion of Texas energy solutions. Modern power plants that use clean burning natural gas emit significantly less greenhouse gases and are virtually free of potentially harmful particulate matter. Natural gas does not contain mercury that may contaminate the Texas water supply and our fisheries.
The responsible production of natural gas does more than help fuel our energy needs; it also powers the Texas economy. Natural gas producers fill the Texas state coffers through production taxes that support Texas schools and critical infrastructure. In 2005, production taxes in Texas reached the highest level ever at $1.6 billion.
Like any infusion of economic development, the expansion of natural gas capabilities in Texas is boosting local economies and growing jobs. A single employer operating in the Barnett Shale reports $1.7 billion in associated statewide economic activity, supporting more than 11,000 Texas jobs. By 2010, this employer projects $15 billion in total economic activity in the nine Texas counties where it operates.
Texas is indeed booming. We’ve always had a history of self-sufficiency, and we embrace solutions that are in Texas, by Texas, and for Texas. Our ability to responsibly produce clean natural gas in Texas maintains that rich tradition. At the Railroad Commission, we are proud to play our part in ensuring that Texas natural gas is produced safely and responsibly and that it will be a steadfast contributor to the energy mix that fuels Texas’ economy for many years to come.
Elizabeth Ames Jones is Chairman of the Railroad Commission of Texas. A former member of the Texas Legislature from San Antonio, she is the state’s 44th commissioner and only the 2nd woman ever elected to the regulatory agency. Established in 1891, the Railroad Commission is the regulatory body that oversees many facets of Texas’s energy industries, including all levels of the oil and gas industry, pipeline safety, gas utility rates and the permitting and reclamation of coal and uranium mines.
Greeley company target for buyout
By Staff
May 3, 2007 --
GREELEY - A publicly held, Oklahoma-based oil and gas exploration company has agreed to purchase a 47-year-old, family-owned oilfield service business in Greeley.
Well Renewal Inc. (Pink Sheets: WRNW) of Tulsa, Okla., entered into the agreement with Cementers Well Service Inc., a $3 million company that serves oil-and-gas producers in Colorado, Nebraska and Wyoming. The Greeley company, specializing in cementing services for oil, gas and water wells, is owned by Jack and Rose Stoller. Rose Stoller, Cementers' CFO, is the daughter of the company's founder.
"Jack and Rose Stoller have built a tremendous business, and we look forward to supporting their efforts to continue to provide top-notch service to our customers," Well Renewal CEO David Rees said in a statement announcing the agreement. "We believe that the future of this business is unlimited as the demand for energy continues to increase."
Rees last month announced Well Renewal had raised $1 million in new capital since February and would pursue an acquisition strategy for future growth. The company specializes in oil exploration and in refurbishing abandoned or low-producing oil wells.
Rose Stoller said she and others in the company were happy that the purchase agreement provided for their continuing roles in running the business.
"We are pleased to have found partners who have the same commitment to servicing our customers that we have had over the years," she said. "Since my father started this business, we have always put our customers first and look forward to continuing this great tradition and business."
Anyone tracking TEXG? It has gone from 13 cents to 2.50 in less than one month.
Press Release Source: Invicta Group, Inc.
Invicta Group Inc. Announces Engagement of AudioStocks.com
Friday May 4, 10:05 am ET
FT. LAUDERDALE, FL--(MARKET WIRE)--May 4, 2007 -- Invicta Group Inc. (OTC BB:IVGR.OB - News) today announced the engagement of AudioStocks.com, an internet-based publishing platform designed to create, catalogue, distribute and make functional, fact-based corporate business news and financial content. Invicta Group's AudioStocks.com corporate webpage is located at http://www.audiostocks.com.
ADVERTISEMENT
To its growing community of small cap and micro-cap investors, AudioStocks disseminates news, corporate profiles, interviews and links to source materials as a means to facilitate and streamline the cumbersome task of performing due diligence on publicly traded companies. Additionally, the AudioStocks platform assists companies in garnering the attention of the diverse audience of current and potential investors, vendors, and institutions.
AudioStocks does not duplicate traditional broadcast efforts (which increasingly yield slower results with poor -- or worse yet, unverifiable -- metrics). Rather, via results-oriented narrowcasting techniques, AudioStocks delivers quantified, high-quality outcomes and helps fortify traditional marketing communications efforts.
"We are excited to announce our agreement with AudioStocks.com. In addition to today's interview, we are happy to make every effort to provide fact-based content through AudioStocks' platform to whatever parties require it," stated William Forhan, CEO of Invicta Group Inc.
"We are pleased to feature Invicta Group Inc," stated Luis Leung, Director of AudioStocks. "Their suite of Internet Travel sites makes them a natural company of interest to our listeners that regularly seek and research small, internet-based companies."
See Invicta Group's AudioStocks.com corporate webpage located at http://www.audiostocks.com to find more detailed information on Invicta Group Inc.
About Invicta Group Inc.
Invicta Group Inc. is an Internet Media Company that specializes in the Travel Industry. The company offers an Internet database of 40 million travel enthusiasts discounted travel products: airline tickets, hotel rooms, tour packages, cruise cabins and car rentals on the Internet 24/7 through their B-2-C web site known as www.travelhotlink.com
Invicta also uses its Email database to market three other subsidiaries: Maupintour, an upscale tour operator that features escorted tours to over 50 Countries; Stock Hot Link provides the latest news and Research Reports on small cap companies; and Only First and Business offers discounted airline tickets to International destinations in Business and First Class seating.
About AudioStocks.com
AudioStocks.com is an Internet-based publishing platform designed to create, catalogue, distribute and make functional, financial content and data related to that content. AudioStocks.com solutions generate rich media exposure for public and private companies, industry groups and investment professionals through the AudioStocks.com proprietary software platform. AudioStocks.com software is primarily used to: (1) facilitate executive and company participation in industry and event-based roundtables and conferences; (2) create and distribute audio-based content related to a particular private or public company or an industry in which a company conducts business; (3) append interview-related and other rich media content to traditional press releases; and (4) for registered investment professionals only, to add interview-based audio content to financial research. AudioStocks.com content is distributed to millions of individuals online and over 30,000 financial professionals, including North American and international buy-side analysts, investment research professionals and portfolio managers. All content is copyrighted to protect licensing partners.
Contact:
Contact:
Invicta Group, Inc.
Bill Forhan
Phone: 954-771-0650
Fax: 954-771-1115
--------------------------------------------------------------------------------
Source: Invicta Group, Inc.
I think most will agree that this PR was "one of the most important news releases AMEP has made in the past year".
First Anniversary of last PR (AMEP opened at .113; closed at .102)
American Energy Production Inc. Announces "It Rained"
MINERAL WELLS, Texas--(BUSINESS WIRE)--May 2, 2006--American Energy Production Inc. (OTCBB:AMEP - News) announced today a major rainfall on wholly owned Bend Arch Petroleum Inc. Palo Pinto 12 well leases in Palo Pinto County, Texas.
Charles Bitters, President of American Energy Production Inc., stated, "This may be one of the most important news releases AMEP has made in the past year for Bend Arch Petroleum Inc. The area around North Texas, especially Palo Pinto County hasn't had measurable rainfall for over one year resulting in a shortage of fresh water to fracture stimulate the Barnett Shale and Marble Falls formations currently in production. With over 3.5 inches of rain the creeks close to the property are running and the stock tanks are almost full. Having this volume of fresh water available Bend Arch can immediately make plans to get on the service companies list to begin frac operations."
The first well Bend Arch plans to fracture stimulate is the Hart #2 Marble Falls oil and natural gas producer. This well was originally fracture stimulated with a small 2600 barrel slick water frac in early 2005 and immediately produced 1000 barrels of oil in the first week of production. The Company believes by fracting with 8000 to 10000 barrels of slick water this well has the potential to make more oil and natural gas for an extended period of time.
A unidrolics jet pump assembly was installed on the Bend Arch Petroleum Hart #8 well on May 1st and as soon as storage tanks are delivered the gas well will be put into production. The unidrolics pump will help remove the fracture fluid still to be recovered from the well faster than a conventional pumping unit.
Bend Arch Petroleum's Phantom Rig I has commenced drilling on the Murphy #3 and 8 5/8" surface pipe has been cemented in place. The Company is very excited about this prospect well because of the seismic data retrieved from the extensive seismic shoot done in 2005 by Bend Arch Petroleum Inc.
About: American Energy Production, Inc.
American Energy Production Inc. is a Business Development Company. A BDC company is regulated under the 1940 SEC act. That act set out procedures by which a Company once it establishes a majority position in a Company can make a series of further investments in its 'investee.' A BDC company does not consolidate financial statements with its investees and each investee operates independently.
The value of a BDC is derived by adding the value of each of the investees. In the case of AMEP each investee's oil and gas leases and producing properties and equipment will be evaluated by a petroleum engineer and then the independent members of the Board of Directors of AMEP will use this information along with other relevant facts and arrive at a value of each investee and the complete BDC.
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" and are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties, as well as other uncontrollable or unknown factors could cause actual results to materially differ from the result, performance, or expectations expressed or implied by such forward-looking statements.
Contact:
American Energy Production Inc.
Charles Bitters, 210-410-8158
www.americanenergyproduction.com
or
Oil America Group Inc.
Joe Christopher, 972-386-0601
jchristopher@oilamericagroup.com
www.oilamericagroup.com
Source: Oil America Group Corporation
Sabre, be careful. I posted the same information yesterday and it was deleted by the local censors.
Addendum to the previous post:
South Texas Oil Company has mineral interests in 43,244 acres of oil and gas properties made up of approximately 20,000 acres in northeast Colorado, 18,000 acres in south central Texas and 5,244 acres in southwest Texas.
Information from another board:
Has anyone followed STXX's growth this past year? -- low pennies to over $9.00 in one year. South Texas Oil Co.(STXX)is located in the Bigfoot area. Any chance their run could be replicated by AMEP?
Summary of STXX at YE 2006:
Total Assets: $4.5 mil
Revenues: $640K
Net Loss: $(773)K
Shares Outstanding: 13 mil
Price Today: $9.63
STXX is listed on the OTC-BB and is a fully reporting company.
South Texas Oil Company engages in the exploration, development, and operation of oil and gas properties in the United States. The company has 100% working interest in the properties in the Big Foot and Kyote fields of Frio and Atascosa Counties. As of December 31, 2005, it had interests in approximately 135 wells, as well as had approximately 5,243.685 gross acres under lease. The company, formerly known as Nutek Oil, Inc., was founded in 1998 and changed its name to South Texas Oil Company in 2005. South Texas is based in Big Foot, Texas.
South Texas Oil Company engages in the exploration, development, and operation of oil and gas properties in the United States. The company has 100% working interest in the properties in the Big Foot and Kyote fields of Frio and Atascosa Counties. As of December 31, 2005, it had interests in approximately 135 wells, as well as had approximately 5,243.685 gross acres under lease. The company, formerly known as Nutek Oil, Inc., was founded in 1998 and changed its name to South Texas Oil Company in 2005. South Texas is based in Big Foot, Texas.
IVGR Electronic Brochure Online of Escorted Tour Operator
FT. LAUDERDALE, FL, Apr 24, 2007 (MARKET WIRE via COMTEX) -- Invicta Group Inc.
(IVGR) announced today the company is offering discounts for 13 destinations that
are promoted at http://www.Maupintour.com. link "Special Offers."
Maupintour is also moving to the Internet as its distribution of timely
information. The company's two brochures, that offer over 50 escorted tours, are
available to research online and print the tours that are of interest to the
viewer.
Maupintour is currently creating a new Holiday Brochure promoting escorted tours
to 21 destinations for 2007. The Brochure will also be added to the Maupintour
website by June 15th.
Maupintour continues to offer upscale tours to 50 countries, averaging 14-night
stays at five-star hotels and limited to 20-25 guests. The company also offers
independent tours for those that want to travel and explore on their own; plus
custom tours can be created for individuals or groups.
Maupintour has offices in Las Vegas, Nevada; Lawrence, Kansas and Ft. Lauderdale,
Florida.
INVICTA GROUP INC. is an Internet Media Company that specializes in the Travel
Industry. The company offers an Internet database of 40 million travel
enthusiasts discounted travel products: airline tickets, hotel rooms, tour
packages, cruise cabins and car rentals on the Internet 24/7 through their B-2-C
web site known as http://www.travelhotlink.com
Additional information:
Contact:
Bill Forhan
bforhan@invictatravelgroup.com
http://www.invictatravelgroup.com
SOURCE: Invicta Group Inc.
mailto:bforhan@invictatravelgroup.com
http://www.invictatravelgroup.com
Copyright 2007 Market Wire, All rights reserved.
Then why does sabregold1999's post look like reply to your #22019 question to silver1999?