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I am in total agreement. The market couldn't be more ripe for this little company and who has a clue what's going on.
You are so right regarding inflation. Not only oil & gas, but how about ethanol, our true energy savior, ya right. The more ethanol we use, the more pressure we are put on the inflation of food. These coupled will prevent the Fed from reducing rates.
Ctb, I had seen those excellent articles that you posted either here or on two of the other boards that I follow closely. One is RTK, a coal to oil concern, and another is BQI, a Canadian oil sands concern.
What I can say from these two alternative energy solutions is that any meaningful alternate energy production is 10 years away.
Additionally, as oil sands production increases, the NG supply to the US, from Canada, is going to decrease, even starting this year. Canada supplies around 10% of the US's NG. As they start to divert NG to their local needs to support oil sands production, that will effect us.
This is a complex problem, that is over the head of our politicians. We are the most powerful nation on earth, at least today, that is becoming very/more dependent/hostage to unfriendly foreign suppliers/governments.
Thank you for your insight. The hook up comment came from a phone discussion I had with Joe. I have learned that his word is not gospel, lets just say.
I can handle weeks.
Thanks.
Our energy strategy is a train wreck which is a bonus for AMEP.
Increased domestic/worldwide demand with no slowdown in sight, international terrorism, the ME disaster, unstable foreign governments (Nigeria, Venezuela etc...), domestic refining limitations, political standstill, environmental/legal standstill, domestic NG production decline, Russia's increased energy muscle and influence in the ME, etc.... Put a little weather concerns on top of this mess and bingo.
Last year $3 gas was a disaster. Now we seem to be absorbing this and much more as we approach $4. The economy is good, so we seem to be looking the other way.
I don't believe we will serious start to solve our problems until the next disaster, which is way to late.
That is why O & G/AMEP is the place to be!!!! Once AMEP get out of the starting gate with #11, its future and opportunity will be more clear.
How many wells can the injection well support? I know they specified 150 barrels a day of frac water, I believe was the number. So I would expect it can support #11 & #12, how about a #13, a #14 etc...?
So we could be at the starting line of real growth now that #11 will be hooked up to the injection well. Lets hope that is real soon.
Can you explain something to me. We started drilling Padgett #11, around mid 2006, and we announced the Padgett #11 formations in September 2006. At that time, there was talk of hooking it up, but that no production rates were going to be announced until it stabilized.
What has Padgett #11 been doing the last 9 months? Has it not been hooked up? Has #11 been idle awaiting the injection well? How long do we expect it to take to hook up to the injection well and get rid of the frac water? Is this the type of time frame we can expect from initial spud to real production?
I don't get it. If we need cash flow, why would we not hook #11 to start the flow of funds? If we can afford to start the drilling on #12 and the other well recently permitted, we should have had money to hook up #11.
I have heard before that we may not want to announce this gusher because we may be negotiating for other properties. Seems to me that with information available, people have heard of the Barnett Shale, not to mention the two wells that Contractor references from the TRRC that are monsters on or near our property. I think the secret is out.
There are a ton of very strong posters on this board who know CB and have done extensive DD on AMEP. Some have driven 1000s of miles, one at least 3 times, to do DD on AMEP. I have learn this over 2 years of being invested and following the threads.
When I find a board that has this many honest and professional contributors, I generally find a winner. Most don't contribute very often, but they are there.
With your experience in the field, you should probably wait until the Padgett announcements are released. I will say, you will be paying a some more.
Finally, as I said early, there is no one more critical than I regarding the marketing/communications. Just read my post. I have had a meaningful amount of money in this for 2 years and I am down. Having said that, all is pointing in the right direction for lift off.
I disagree. First of all to acquire 2 rigs and 7000 acres of prime Barnett Shale real estate, with no debt, says a lot.
Second, when I visited AMEP is late 2005, CB indicated at that time that he thought he had a needle in a haystack/diamond in the ruff, based on the 3D seismic survey just completed.
Third, when the formation of Padgett #11 was announced in September 2006, the richness of the lease was exposed. Now we wait for numbers..... and wait...
Fourth, when the horizontal Padgett #12 was exposed on the TRRC, in close proximity of #11, another piece of the puzzle comes together.
Five, when the injection well was exposed/approved on the TRRC, another piece of the puzzle fell out.
So there are several indications, based on other than speculation, that excellent O & G prospects are more real than not.
I have been very critical of the company regarding execution and disclosure, but there is good reason for optimism.
Let me say something else regarding the numbers, since March of 2006 when the new Director arrived, AMEP's financials have be on time and early twice. He guided us successfully and professionally throughout the SEC investigation with an A+ grade.
We know our O & G expertise/experience is A+, especially once the Padgett release/information is made known.
Now, if we could only get out marketing and communications grade up, what a rocket this could be.
The worldwide market conditions for a reliable, productive, domestic O & G supplier, grows exponentially daily.
Here is the question, why announce numbers early if you are not prepared to follow things up with PRs. They were an unexpected, but welcome surprise on Friday.
If we have nothing to announce, we should have reported on the 15th, as anticipated and required.
That is why I am leaning towards/hoping for the announcements to follow.
If they file the 10Q and follow up immediately with a PR, the bashers won't have much time to act.
Heck, even a PR announcing that the company has changed its reporting status from a BDC to an operational reporting company, effective April 1st, would work for me.
This would show that the silence is over. At this point, we still don't know when it's over.
You are right on. I start following this stock and here we are talking about another stock and judgements.
Since the new financial Director came on board in March of 2006, AMEP has reported on time.
This guy changed the standards of asking for an extention to reporting on time.
Sorry, hit the wrong button.
Here are some noteworthy dates:
* It has one year since the Rain PR, May 2006.
* It has been 8 months since Padgett #11 formation was announced, September 2006.
* It has been 2 months since the Shareholders Meeting which approved the changes in moving from a BDC to an Operational reporting company, March 2007.
With the numbers Tuesday, it is time to start the PR's. One year of silence is enough.
You would think with numbers to be released Tuesday which completes the BDC reporting requirements, that we would be building momentum in anticipation of start of PR's.
Here are some not worthy dates:
It has one year since the Rain PR
Who is that?
Thanks for your insight. I have been reading for months and I like the company. It sounds honest and no debt is a positive.
The number of shares outstanding and the rate of dilution are a key. The board shows the number of O/S to be 45 million, which is nothing at this level.
Padgett #11 was rumored, by one poster, to have a well head pressure of 1800 PSI. Given this rate, can you estimate monthly gas production and revenues?
Just trying to see what the magnitude of production and corresponding revenues would be for #11 and #12, given that a horizontal is 3-5 times the production capacity of a vertical.
Thanks
Where can I find financials on HEMI? Thanks
Thanks very much.
Someone recently posted the monthly production numbers for Proco for 2006 and Jan of 2007. Does anyone know which message that was?
Does anyone have the summary numbers for February referenced yesterday on TRRC?
It appears that gas production has doubled, even without several new wells, including Padgett #11.
Thanks
I agree with you. Management better start worring about shareholder value and the stock price.
I have TDAmeritrade, as well. Interesting how they came off the restriction, rather quickly, but Scottrade and ETrade have not.
Not to mention, there are several accounts that did not go on restriction, like Schwab, from what I understand.
So there are two accounts on buy restrictions, Scottrade & ETrade.
I guess Etrade is, but I understand Ameritrade is not.
Do we know how many firms still are on restricted buying?
GEH, Contractor, or anyone, would you please clear up a few areas regarding reporting, revenue recognition, drilling, etc...
First, will AMEP be reporting 1st Qtr financials May 15th? This will mark the last reporting period for the BDC standards. Is this the milestone the lawyers wanted to pass before allowing PRs? Do you expect any surprises since we post the major profit in December?
Are we still expecting a formal release to be posted by the SEC based on AMEP's filing April 3rd? If so, how long does that take? Is this another legal milestone?
Regarding drilling and revenue recognition, we announced Padgett #11 in September 2006 and in a discussion with Joe, he indicated that it was on line? What happened to all the oil and gas revenues generated by #11 during the stabilization period? Was it ever counted in the numbers? Is it on line or is it capped and why would we do that other than not to expose its capacity? When do that have to post the well capacity on the TRRC and when does it become official?
Thanks in advance for any assistance or thoughts in answering these questions.
Is this not the lease/well that is unannounced by AMEP and is not included in its current holdings?
There is a lot of money out there, just look at the hedge funds or LBO's. They could figure out of way. Bottom line is you do not want to start when you stock price is at $.05. They look for undervalued assets.
What concerns me is this, if this is true, how is that we only received 55% of the vote for the shareholders meeting. The required quorum was 50%. Talk about a close call. If it weren't for the boards/individuals and their efforts, the BDC issue would not have passed because the voting requirements would not have been satisfied.
Shows me that management has less control of the shareholders than you would think.
Let me plainspeak you, he better be worried about the valuation of this thing and where it is going. I would think that knowledgeable people in the patch know what's going on, what the potential is and what they are looking for. They probably saw the same numbers on Yahoo and TRRC that we did.
AMEP's assets alone speak of a stock in the $.20s, not one headed to the $.04s. You do the math.
We appear as wounded animal in the Safari. How long do you think you would last in those conditions/or at this price?
I agree. Now, we want to throw all this out for the Padgett news.
When I invested over 20 months ago, I invested in 7000 acres with 100 NWI, PRI revenues and reserves, 2 rigs, experienced and honest drillers, and no debt. They had just done the 3D survey, so they knew they had the potential for a diamond in the ruff. That diamond is the Padgett today.
Let's not lose sight of the fact of the total story, that has never been told publicly, except for by GEH and other posters on the boards. Here is a question, did Padgett 11 have any contribution to the huge profits reported in the December quarterly numbers the other day? Did Padgett 11 have any contribution towards the huge production increase reported on TRRC the other day? I think the answer is no.
I would like to see them PR all the information supporting these numbers and other interesting items and then follow it up with the blockbuster Padgett story, starting with 11, then followed by 12. If we are holding Padgett news back to get our ducks in line or to get new surrounding leases, fine, but don't let this thing slide into the ditch for another month(s) of silence otherwise.
If it is truly a SEC silence issue, fine. If we are holding back because of overly cautious lawyers or to focus on the Padgett news, that is a mistake. Lets show the world execution, publicly, with the numbers we just reported. If we can, we should be shouting this performance out from the highest mountains and getting the valuation up to where it belongs based on just the assets alone.
We need to start getting positive visibility, and get rid of the negative presentation and mystery that has surrounded the company since the SEC review started in May of 2005.
Get the stock price up and approach the happy investors to participate in the drilling program. Now there is a novel idea.
How about this one. Why don't they get the lawyers to fund the deal?
Are we still waiting for a final posting/release from the SEC? If so, when is that expected? AMEP filed the 10K on April 2nd, filed the BDC withdrawal notification with the SEC on April 3rd, and released the December ending financials on April 13th. Very positive progression.
The information has been substantial considering the profits and the December production numbers reported from the TRCC. It would be nice to start communicating on what has been going on and what made up these numbers. Even with this great news, we haven't recovered from the hammering we took last week.
Hawk, when would you expect the 31 March BDC numbers to be posted?
Hawk, based on your commnents for the PR flow to start after the final BDC is reported for the Q ending 31 March 2007, doesn't that imply July?
Here is a question for someone. Given that we announced Padgett #11, around September 11th, has any production results been reported on this well, since we are now over 7 months past this date?
At the time of the announcement, it was implied that the well was generating revenue, but that no production numbers were being announced pending stabilization. Can we assume that the well is now stabilized?
Thanks in advance.
This stock can suck the life right out of you. This is disgraceful and it is CB's arrogant/ignorant fault.
He now has over a year to get a running start with accomplished work to PR. He should release a PR and follow it up with a steady follow of PRs, otherwise, the traders will manipulate this down with each period of silence. Screw the Mickey Mouse, PR cost. Talk about nickel and dime thinking.
All I have heard is how tuff CB is and that they better not screw with CB. Let me tell you, the market is/will undress this guy and send him out into the patch naked and he won't even know what happen to him.
Here we sit with a liquidation value of over $.25+, trading at below $.05. That is solely CB's fault! Is oil and NG the place to be or what?
He think he's EXXON and doesn't have to report/market like normal BB companies. I do not seen any "X's" in the name AMEP.
In my opinion, he has been hiding behind this SEC deal for to long. I would bet, if any of the SEC guys or AMEP lawyers owned this stock, they would be investigating the company for being stupid.
Now we talk about the shorts. The way to break the back of shorts is announced results. Start the annoucements and keep them coming consistently and unexpectedly.
I have sent this note to the company as well. I also told them to fix the web site because it is disgraceful. Looks like an early 90's edition.
Would someone please explain their interpretation of the events to unfold. What are we/have we to file and when? What is the expected turn around from the SEC? When will the PRs flow? Why are we waiting for the next quarter to start? etc....
Thanks.
I agree two thousand percent. I did not invest in a lawyer firm. Managers run companies, not lawyers. This guy make his money by the hour, not by investing in AMEP.
If Christopher Columbus had lawyers, he would have never discovered America.
There are legal boundaries and there are company responsibilities. I sure hope we know the difference.