Rookie: IMO, AMEP is strictly a trading stock. It no longer is a trusted buy and hold. It had a predictable trading range from $.045ish to $.07ish range before their Q came out. Now it will establish a new support and resistance range, and it is too early to determine what that will be I believe.
Charles Bitters IS AMEP, if you haven't already figured that out. Read his Q. He IS the sole employee. How many Mexicans he hires to conduct business has never been released.
If you read back over past PR's, you'll see that there is always "promise," ... but he never gives out how much oil or gas he sells, which to me is an eye-brow raiser.
I was in the stock a few years back when he came out with his HOA-(????) "Snake Oil." Interestingly ... it was a "secret formula" he was experimenting with to get heavy earl out of the ground. The buzz was that his heavy oil extraction secret formula was going to make 1,000,000 share holders very, very wealthy.
He played up the "snake oil" but NEVER released any specific details about how effective it was. It eventually died about two years ago.
Credibility is somewhat lacking with him IMO. He seldom follows up with any credible updates on previous PR's.
Only thing positive I can tell you about him is that I called him on his cell phone while he was out in the field back in 2004. I told him I had nearly all my investment money in AMEP at the time (somewhere about 3,000,000 shares, I believe); much of my retirement money. He told me in his Texas drawl: "Son, don't EVER put all your eggs in one basket; not even in AMEP. I could die tomorrow, and this company would be history. Diversify your investing, now, will you promise me? I would feel terrible if you lost all your retirement money in ANY stock."
I'm serious. That is what he said. I dern neared kept all my money in AMEP just because the guy was so bluntly honest! I made a little money on the position but went elsewhere after a fashion. The "snake oil" was just too fishy.
Now ... he keeps plugging along, and as the price of oil goes higher, people are looking for little oil drillers like AMEP to park their money and just ride out whatever happens.
What MIGHT happen? There are a lot of people playing AMEP, so with the right stars in it's favor ... the stock could run very high this summer. Momentum can never be underestimated these days in little oil plays. They are nuggets of wealth.
And then there is KSWJ. I've always assumed "snake oil" ... but ... at the price you can buy it ... IF it somehow is the real deal ... Charles Bitters may be the FIRST to experiement with it down Texas way and make it a global success!
