AMEN:NASDSQ HUGE news 1.6 MM float $6 AMEN was already profitable in the right sector energy) with right share structure to go to teens
MIDLAND, Texas--(BUSINESS WIRE)--June 1, 2006--Amen Properties, Inc. ("Amen") (NASDAQ:AMEN - News), with headquarters in Midland, TX, today announced that it has completed its acquisition of all of the outstanding partnership interests in Priority Power Management, Ltd. and PPM Dallas, Ltd. (collectively, "Priority Power Management") pursuant to a Securities Purchase Agreement by and between the Company and its subsidiary, NEMA Properties LLC, and the partners of Priority Power Management dated May 18, 2006.
Priority Power Management is a leading Texas-based independent energy management and consulting services firm to large commercial and industrial clients. The firm provides unbiased and objective energy management services in the areas of energy information, supply and risk management and demand-side management in 22 states, primarily Texas. Its client base includes oil and gas companies, industrial manufacturing, healthcare, commercial real estate, governmental, education, food service, retail and financial services firms. Since its establishment in 2001, Priority Power Management has procured and managed in excess of $800 million of power and natural gas on behalf of others from its offices in Midland/Odessa, Dallas/Fort Worth and Houston.
Priority Power Management business highlights:
Management staff has over 150 years of combined experience in regulated and deregulated energy markets;
Approximately 800 clients representing approximately 6,500 utility accounts;
Over 750MW of peak power demand under management;
Over 3.5 TWh of power managed annually; enough to power 200,000 residential homes a year;
Managing power requirements for 32 of the top 100 independent oil and gas producers in Texas, which represents estimated annual production of 600 Bcf/yr of natural gas and 75 MMb/yr of oil;
An estimated 13.6 Bcf of natural gas financial positions managed annually;
An estimated 8.6 Bcf of natural physical natural gas managed annually;
Endorsed by industry associations such as the Texas Chemical Council, Association of Chemical Industry of Texas, the Texas Hospital Association, the Dallas Forth Worth Hospital Council, the Texas Bankers Association and the Independent Bankers Association of Texas.
The Company believes that Priority Power
