Founded in 2011
Phone:
61 3 9945 8739
Fax:
61 3 9530 4117
www.ap-oil.com
Key Executives For American Patriot Oil & Gas Limited
Mr. Alexis Clark
CEO & Director
Total Annual Compensation: A$200.0K
Mr. Frank Pirera
CFO, Company Secretary & Director
Total Annual Compensation: A$70.0K
Mr. Kleanthe Hatziladas
Consultant
Total Annual Compensation: A$45.0K
Compensation as of Fiscal Year 2017.
American Patriot Oil & Gas Limited Key Developments
American Patriot Oil & Gas Limited Announces Production Gains Momentum; Provides Earnings Guidance for the Year 2019
Aug 23 18
American Patriot Oil & Gas Limited has advanced the re-work process at its Goose Creek oil field in Baytown, Texas and the CWS Aceite assets in South Texas to restart shut-in production at both locations. The assets are now generating 22 barrels of oil per day (bopd) of production from seven wells, which has so far generated revenue of USD 32,592 from production sold. The company expects to generate at least USD 40,000 by the end of the month from production sold with a daily average of 30 to 40 bopd. American Patriot Chief Executive Officer Alexis Clark believes these are important milestones as the company prepares to commence sustained production. The location of these assets is also important, situated directly adjacent to The Foothills project allowing to use the same infrastructure and work crews to achieve significant economies of scale. This week, American Patriot hosted a successful site visit at the Foothills asset with the lender, White Oak Global Advisers, and loan documentation has commenced. The company is also well advanced in discussions with several hedging counterparties to lock in the best commodity price hedging. The company plans to run a fluid level testing program to get a handle on water movement in the different reservoirs. In addition to this, the company has also signed the Purchase and Sale Agreement on the Magnolia and Burnett assets and paid a 10% deposit. The company expects estimated EBITDA will increase to approximately USD 11.5 million per annum. in the year 2019.
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