The New Board=Free Pancake Breakfast

[john_new]

Back from 8 days in canada fishing...lots of fish and great weather....amep spooked by R/S possibility and NOT by news today of successful O/G well....the figures on production from this new well will go UP as the frac water is removed and more O/G and gas is released....the success of the well validated the padget area and additional vertical and horizontal wells are in the works...the R/S may come but NOT on the terms suggested in the PR....in this instance the R/S is to enable the co to raise funds to proliferate wells in its producing field and this is not a bad thing....in fact new funds will speed up the number of wells drilled....it all relates to the speed of drilling and the funds necessary to accomplish that....the R/S proposal as worded will not pass and it has nothing to do with the 25:1 ratio but rather to a cap on new A/S which needs to be addressed after any R/S....Also the preferred shares will need to be addressed as the news release only delt with the common shares....The drilling program is successful and that factor is what makes this R/S different than the many penny companies who only use it for dilution...all imho.