American Energy Production Inc(fka AENP)

[RedShoulder]

Good News! Shareholders to vote to withdraw AMEP from the BDC status by filing Form N-54C, and become an Oil and Gas Operating Company.

Is there any doubt that the DBC, which does not consolidate revenues from it's wholly owned investees, will be voted out by shareholders. Very good news.

AMEP will be recording Oil and Gas revenues!
No more, "where are the revenues?"

Another very important benefit to current shareholders IMO, is that this will now open the door to new investors that automatically passed on AMEP with light DD, because they did not understand that the BDC structure did not allow the recording, and filing, of Oil and Gas revenues from it's wholly owned investees.

From the 10Q:

"The Company is working with the SEC to resolve the issues detailed in their May 2006 correspondence and anticipates that, upon resolution of the issues, will request shareholder approval to file a Form N-54C, to withdraw its election to be regulated as a BDC under the 1940 Act. Subsequently, the Company intends to pursue a business model whereby it will be an oil and gas operating company with wholly-owned subsidiaries that are currently classified as majority owned portfolio companies as a BDC."

Excellent news.
... %^ greeneyedhawk