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Very well said.
All along, while on the BB, you have been talking about how high the price will go when we produce x, y, and z.
Now you are saying, we need to move to the AMEX to get the multiples.
Why didn't you say that before?
They need something, maybe not this big R/S, but they are going to have to earn my vote. This is the one time, I am in control, at least with my shares.
The way the last 2 years have gone, the silence, the lack of shareholder concerns, the lack of concern for commications/marketing to maximize shareholder value, bothers me. Now we have the R/S PR for the Grand Slam.
There is a time for everything, but maybe the next exchange isn't today. Yes, there are games down here, but we feed these monkeys with our silence and lack of PRs/communications/execution. Moving to a higher exchange doesn't fix that.
They need to focus and execute. Giving them a "Grand Slam" R/S war chest, on the way they have executed, is not justified.
I am not a day, week, month, or year trader, but I am also not a decade trader. They want the "Grand Slam" R/S, but I want to see just a hit first.
We are seeing the start of a plan with the Injection well and Padgett #11 releases, but we need a lot more before I vote for any adjustments.
They better come out with a R/S proposal that will pass because the one floating around won't sell.
This is not there company solely, but the shareholders. 25/1 R/S with 500 million shares authorized is not going to fly. This is the one time when your vote counts.
Today was a good start. They need to start marketing AMEP and communicating to shareholders the way they should be. Some part of the market value is derived based on what is said, how it is said and how it is perceived.
Given the same conditions of #11 and #12 H, at the time of the Injection well PR,
When you added Padgett #12 H horizontal, which is expected on line any day, to the Padgett #11 vertical, the numbers disclosed today, things look bright.
Now consider these two producers followed by the potential Mississippi formation being investigated on Murphy-Nash #1.
Numbers get big real fast.
This PR shows that AMEP has a plan, a good plan, considering the R/S PR Friday.
This put them in the exclusive 10% category of companies that propose R/S, that are powerful, successful enterprises that are maturing, prospering and looking to the future to grow.
Padgett # 11 shows that AMEP can drill successful wells with its own rigs.
With 7000 acres, positive cash flow, 2 rigs, its clear sailing from here.
One thing we can all agree on is that we are in for a big bang. When I turned on the board Friday afternoon and saw what was happening I said WTXXXXX! Are you kidding me? We are about to enter the "Promise Land" and then this.
Most R/S are a disaster done by dying companies. Some say 10% of the R/S are done by up and coming companies that are positioning for growth, including moving to a bigger exchange.
IMO, when I sit back and analyze the facts of what we know, I believe good/big things are about to happen. Lets look at some of the facts, including the past and the character of the individual:
* I have been in AMEP for 2 years and no new shares have been issued. We are/have been near the ceiling with 493 million shares issued and outstanding out of 500 million authorized. The company has no room to grow or raise money where we are.
* We have no debt essentially. CB pays for everything with cash. That is his character. That is good in most respects, but I am sure that has impacted operations, in a very capital intense business, that has caused some problems and delays. Robbing Peter to pay Paul. CB, so far, has been as honest as the day is long. He puts his blood, sweat and tears into this and pays "cash on the barrel head," as Joe describes it.
* Lets not forget the SEC investigation and the fact the Company passed with flying colors. Nice to know you have the Official outside authority telling you this has a clean stamp of approval. How many of your BB or Pink stock can say that? We are now an operationally reporting company, a positive. This was officially announced in the PR in late May 2007.
* Since May 2006, when the new BOD came onboard, who is a CPA, AMEP's financial reporting has been on time or early. That was not the case before as they were always late. This guy has been a major asset, including helping guide the company through the SEC investigation.
* We have major production about to start. Padgett #11 and Padgett #12 are now being put into production since we just hooked up an approved Injection well, all disclosed on the PR release last May 2007. These wells were drilled on a lease that is near our most productive well, Murphy-Nash #1, and 3D seismic reading show 5 oil and gas formations based on the PR in September of 2006. No production numbers have been reported.
* From the TRRC filing/approval this week, we have discovered that AMEP has approval to reenter Murphy-Nash #1 to investigate the Mississippi formation. This is potentially huge. This has not been announced by the company.
* How about the 3 new leases AMEP has including one new drilling permit that we know of from the TRRC? These have not been announced by the company.
* AMEP has 7000 acres with 100% NWI in the Barnett Shale, 19X wells in PRI with $68 million is reserves and 2 drilling rigs.
* Lets state another obvious, the marketing and communications from this company has absolutely sucked, even considering the imposed SEC silence and BDC restrictions regarding assets disclosure. We are way undervalued for what we have in resources alone. This must change.
Lets play what if. If they are positioning for some type of R/S, they need to start the machine of announcements that launches the value of this company.
How about this announcement flow to start with?
* Announce Padgett #11 production.
* Announce Padgett #12 production.
* Announce Murphy-Nash #1 rework finding on the potential Mississippi formation.
* Announce new lease #1 with approved drilling permit.
* Announce new lease #2.
* Announce new lease #3.
* Announce new financials, come August, under the new operationally reporting format.
* Announce PRI plans for reworking wells, including highlighting the $68 million dollars in O & G reserves.
* Announce any new wells, lease, rig plans, etc.....
How about announcing some preliminary O & G Reserves from the Barnett Shale properties or maybe just the fact that we have engaged an outside company to do that? Boy would that be a BIG one.
Now lets say the Mississippi test is positive, Padgett 11 & 12 are producing big time, lets announce a production schedule to blanket the Mississippi and other surrounding rich O & G formations that we own.
Talk about a road map of strength and it is at our finger tips. This must happen before any R/S is considered seriously.
We have got to get the valuation of this company UP to where it belongs, especially before we do any great acquisitions or capital improvements. We have a great story that is not being told. We do not want to dilute our stock by not doing our homework first. We want our core company to be at maximum value before we start absorbing other assets or selling shares.
We need to get our house in order, and let me says this, maybe we are and we just don't know it yet. Expanding the capital structure gives us great opportunities for money, a new exchange listing, absorption of leases or companies, etc..., but we need to execute.
I invested in this company for what is about to unfold. Don't be scared off my Shorters, bashers, etc ... who want to make money at your expense. The facts are the facts. How AMEP choses to proceed is their hands and is something we shall see shortly.
This is my opinion only.
Nice note. Kind of like yelling fire in a crowded theater, on a Friday afternoon, just after the market closed. They wouldn't do that, or would they? Are they trying to intentionally depress, an already depressed, stock price?
It doesn't make sense, especially since they just announced the new Injection well, updated the status of Padgetts 11 & 12, which were a surprise, and formally stated the status of AMEP moving to an operational reporting company. Follow this up with the reentry of Nash-Murhpy #1 to investigate the Mississippi formation. We also know that, based on the TRRC filings, that AMEP has been adding leases, with one new drilling permit.
A lot of very, very positive things that we have been expecting any day.
I am betting/hoping that bigger things, than we expected, are/have developed.
I was thinking when TEXG was down and out, how if AMEP was positioned, they could have picked them up for a song. Not that they would have, but if they liked the properties, they could be positioned to do so. Maybe something like that.
With strong positive cash-flow from #11, #12, and the Murphy-Nash #1 rework, maybe this is the torch that started the fire. With all this disclosure coming out as to the production, they could be looking for protection as well.
We will see very soon.
The BDC was near unanimous as a result of effort from this and other boards. The Yahoo board did a vote count based on readers and they had about 150 million share represented and the voter turnout from that poll was over 90%.
I am not sure what you are reading, but what I sense is a split, at best. Balls is CB court. I would vote NO without a lot more information and numbers. We have been in the dark for too long.
Thinking in terms of what LTG is saying, why not a 1/10 RS with 100 million share authorized. That give the company 50 million shares issued and outstanding, a stock price of $.60, and 50 million shares to play with. Put out a few annoucements and your at $3, the strike price for the exchange.
What I heard was they had a 55% voter turnout, with 95% voting in favor of the proposal.
Let me say yet one more thing, anyone that sells is crazy. Here is my view:
Don't be intimidated by the proposal. Seems to me CB think he has his duck lined up, we just need to know more. If you have been in AMEP for a while, what lays before us, is the crown jewels.
* Proving up of rigs.
Rich productive
One other thing I will say, no matter how you look at this, things are about to blow wide open.
Our wait is over and the story is about to be told.
This is a very bold move, based on what we know. It is what we don't know, that is the key.
All this BS comes down to this, CB ball is in your court. Show me the numbers, show me production, show me a plan, and things move forward. Show me more of the same, show me more shareholder disrespect and this proposal will follow the likes of he Immigration Bill, dead on arrival.
Why does he run out the door on a Friday afternoon floating this piece of legislation? Is he trying to further depress, a depressed stock/valuation?
I am not selling because this is a HR. We are talking about execution. It is great to move to the big boards, attract institutional investors, get out of penny land, but I want to see this baby take its first step before I commit to the marathon. He has not proved up one well in 20 months and he wants what?
You are right. This company is a HR and we are about to see the details. This is what we have been waiting for patiently all this time.
Here are my random thoughts:
Just changed from a BDC to an operationally reporting company. We are SEC clean.
Padgett #11 big, Padgett #12 bigger, and the Mississippi formation on Nash-Murphy #1 a monster. All connected to the new Injection well, recently approved, and ready for new wells.
Plan is to build out the Padgett and other leases that cover the Mississippi formation as the major point of attack. Here is a thought, what do you think the oil and gas reservers are on the 7000 Barnett Shale acres? Lots, especially with the rich formations found on the Padgett. Didn't they say in the September 2006 announcement that there were five formations?
Then we announce the new lease acquisitions including starting with the well recently permitted, yet unannounced. What a surprise.
ETC.....
Now the question is how does this R/S issue fit in to the advantage of all the shareholders?
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.
Execute first and get the value of this company in line with it assets, resources and potential. We are not a company in distress like TEXG, but rather, an up and coming Jr. O & G company ready to come out of the closet.
Here is a question, why did we not connect Padgett #11 and #12 up to start generating significant revenues/cashflow before now? Don't tell me to save a few bucks from trucking the water. For one reason, I believe, he was/has been holding back, yet now he wants a R/S.
I agree he needs more shares for cash-flow, acquisitions, employee options, but first show me the money.
I agree with you 100%. Enough is enough.
Again, this is brilliant, with much to follow, or incredibly stupid and arrogant.
If they start the flow of big announcements Monday, maybe there is something blockbuster about to happen. I mean 500 million shares to 20 and then to keep the authorized pool at 500 is insane. Goodies shares for everyone, NOT. Sure I'm going to give this BOD the authorization to issue 480 million shares, considering how management preserves our current shareholder Mickey Mouse valuation. I don't think so.
If they think they are going to pass this thing based on there past performance, especially the way they have treated the shareholders, they have a surprise coming.
Why don't they get the share price up to were it belongs by maximizing CURRENT shareholder value?
After riding this boat for near two years, can you believe, here I think I am about to enter the Promise Land and THIS! I am getting sick of buying opportunities.
I will reserve final judgment until I see what they say next week. Maybe they want to throw out the bad news before they started launching the good news. It will be an interesting week.
The more I think about this, something has to be up. They know they could not possibly pass this proposal. All this time and patience to get to the alter and now he want a divorce, no way. Doesn't make sense.
With all the gallant efforts of people on this board, we only got a 55% turnout for the vote, with 95% being favorable, to change the BDC structure. Talk about a close call to an absolutely critical issue.
Unless he has big time news and plans, he will get 95% of the people to vote no. I personally have invested for the big time news he has pending.
Let me say one other thing, since the new CPA Director came on board around May 2005, the financial reporting and expertise has been first class. Just look at all the reporting and the SEC investigation. Seems to be getting good input.
What I don't understand is why he has no shares.
That is possible, but let me say this, TEXG went through a 1-20 reverse split just prior to the acquisition. They were having financial trouble and had no choice.
When you consider the mark up, don't forget the reverse split, so doesn't that mean the purchase price of TEXG share of $6.75 is pre split, $.33.
Something is up!
These people need to perform first. I have not seen one, not one, well into production in my 20 months here. Not one!
They better have what I think they have or this is dead on arrival.
A lot of people have put there hard earned money in AMEP based on the opportunity and the so called honesty and integrity of CB.
If this is some game, without a clear path of financial success to the many longer term shareholders, who by the way just exited a tuff 18 months of nothing, it won't happen.
He has got to know there will be a riot.
If these people don't show big numbers immediately, followed up by a plan to support this announcement, we are headed south big time.
This is either brilliant or very stupid, with no in between. They have to have something big brewing to make this bold move.
Let me ask it another way, what is holding up production numbers on Padgett #11 & #12?
Given the recent announcement of the Injection well, which included the drilling status of Padgett #11 & #12, how long does it take for the wells "on average" to be put into production from the state/condition the wells are in. Are we looking at days, weeks???
Just trying to get a feel when they might release the first production results. Should we expect something this week, this month, next month?
I know AMEP surprised a lot of people with the announcement on May 24th, which was welcome.
Seems like we are on a roll, Injection well approval, Padgett #11 Vertical drilled, Padgett #12 Horizontal drilled, and a new drilling permit for the Nash Murphy reentry.
I hope they announce Padgett #11 results first and follow it up later with Padgett #12, amongst other possibilities.
We need positive consistent visibility to attract new money.
The foundation set with the announcement last Thursday was awesome.
This was the key sign we have been looking for, the start of communications and information flow. I say this is a similar milestone to the initial SEC disclosure, DEC 5th, I believe was the date. Look what happen to the stock from there.
BDC is done, operational reporting to follow.
For the guy that was worried about a dry hole, well I don't think AMEP would be reporting that Padgett #11 and #12 are drilled and ready to hook up to the injection well, if one or both were dry, do you?
Ready to prove that AMEP can produce big with their own equipment.
Ready to blast off. No shares for sale.
He's one slick Aussie! Wouldn't want to cross that guy with the big knife he carries around.
In todays world, you never know what under the hood. lol
No, the naming is just random.
Nothing, just random.
I was being facetious.
I don't want to hear any negative talk. Just be happy we are not in the 3's.
My belief is CB is playing a very risky game playing peak-a-boo. Someone could walk in and steal this thing. This is not like a computer software company, where the people are the company.
No, the value is in the land, the existing wells, the existing TRRC information, the 3D survey, no debt, the rigs, the existing infrastructure, and the other assets.
The sweet spot in the investment market is/is becoming energy. Where do we fit, but don't tell anyone?
If you ask me that is to far away.
They have got to come clean soon and start to show a little respect to their investors that have hung in with them during a very difficult year of silence.
The Padgett results are the potential missile, but I like the fact they are picking up new leases, as well. Remember one of the new leases had a drilling permit approved for a new well which says that something else is up besides the Padgett wells being drilled. Maybe the other rig is being activated finally.
Sure would be nice to hear something around Thursday or Friday so that we could have a nice long weekend.
Ya, but when they do tell the story and announce the Padgett numbers you will be able to buy a truck load of Porsches.
Boy did I screw that up. Sorry. I need a light.
What I was saying was they have 3 major events unfolding, increasing existing production from the current wells, drilling out the Padgett lease and acquiring new leases.
Again, I was blown away by the new leases they are picking up. Screw them if your are smart enough to know or find out. What they are doing is down right wrong.
They could be announcing the new leases as new activity if they don't want to announce the Padgett numbers.
It makes me mad to think these guys are holding back after all they have put us through with the SEC investigation and their execution the past 18 months.
You are awesome. I am blown away on what they are doing, especially in all the new leases they are acquiring. We have 3 major issues unfolding.
Could you please post the numbers which show that the 1st Qtr 2007 almost exceeds all of last years numbers.
If you could post 1st Qtr 2006 versus 1st Qtr 2007, plus the annual totals for 2006, that would be helpful for not only me, but others. What did AMEP do in the 1st Qtr to generate the big increase? Additionally, what wells are not on line or counted as of yet.
Could you please give an estimate of what you would expect Padgett #11 and Padgett #12 to produce.
If it were not for people like yourself, GEH, and others, we would know very little about what is going on.
Thanks for your efforts.
Simmons slide show.
http://www.321energy.com/editorials/simmons/simmons052207.html
Slide #55 show Long-Term winners. First winner noted is, "Small E & P players that drill furiously." That could be AMEP.
AMEP with its own drilling rigs and 7000 acres in the Barnett Shale, fits this profile. They will be set up to drill this property and any other property/leases acquired.
CB must release the Padgett numbers to validate this claim. Once the Padgett #11 results are out, followed by #12, we are on our way.
Thanks very much for the pointer to Ihub board. I will follow it as well. I like am much information as possible regarding the energy focus, including the main alternatives, such as oii sands and coal.
There are time excellent references/discussions on one that you may not find on another.