From 1/27/2005
CORRECTING and REPLACING American Energy Production Inc. Announces Fourth Quarter and Year End Production Revenues for Two Investees
1/27/2005 9:00:00 AM
MINERAL WELLS, Texas, Jan 27, 2005 (BUSINESS WIRE) -- In BW5790 issued Jan. 25, 2005: Fourth graph, fourth sentence of the release dated Jan. 25, 2005 should read: This equates to a 21,500% increase over production revenues in 2003. (sted This equates to a 215% increase over production revenues in 2003.)
MARKETWATCH TOP NEWS
U.S stocks rally on job report; Dow gains 130 points
U.S. June jobless rate falls to 4-year low of 5%
Alcoa earnings leap 14%
Insurer exposure to London attacks may be limited
Morgan Stanley may pay Purcell $44 million
Sign up for FREE e-Newsletters
TRACK THESE TOPICS
My Portfolio Alerts
Company: American Energy Production Inc Add
Create
Get Breaking News sent directly to your inbox
Edit My Portfolio | Edit Alerts
The corrected release reads:
AMERICAN ENERGY PRODUCTION INC. ANNOUNCES FOURTH QUARTER AND YEAR END PRODUCTION REVENUES FOR TWO INVESTEES
American Energy Production Inc. (AMEP) announced today 4th quarter and year-end production revenues for it's two wholly owned investees, Production Resources Inc. and Bend Arch Petroleum Inc.
American Energy Production Inc. investee, Production Resources Inc., sold approximately 2077 barrels of oil in the 4th quarter for total net oil revenue of $64,810.
Bend Arch Petroleum Inc. sold 5131 barrels of oil and 32,589 MCF of natural gas in the 4th quarter for approximate total gross revenue of $455,743. Total approximate gross revenues for Bend Arch Petroleum Inc. and Production Resources Inc. totaled $520,553.
American Energy Production Inc. reported Oil and Gas revenues year to date for the two investees of approximately $1,442,453. AMEP is very pleased with the production revenues of our investees. In one year the investees have increased production revenues from $6600 to $1,442,453. This equates to a 21,500% increase over production revenues in 2003. The Company anticipates further production increases in the first quarter of 2005 because of the acquisition of Oil America Group Inc. (www.oilamericagroup.com) and increased production from new and existing oil and gas wells.
The American Energy Production Inc. website www.americanenergyproduction.com is currently being expanded; please go to the website and see information and an explanation of AMEPs' BDC (Business Development Company) activities.
About American Energy Production, Inc.:
AMEP was founded in 2000 and in 2003 upon the acquisition of certain oil and gas assets, the company entered a new development stage becoming a Business Development Company in January 2004. Activities during this stage include acquisition of subsidiaries, additional assets, developing and implementing a plan to extract oil and gas, acquiring certain rights to and utilizing an oil recovery additive AMEP HOA-800 and completing initial sales of oil and natural gas, and raising capital. The company has determined that its operating model best approximates that of an investment company and intends to make investments into developing businesses in oil and gas related industries. Please see www.americanenergyproduction.com.
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" and are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance, Unknown risk, uncertainties, as well as other uncontrollable or unknown factors could cause actual results to materially differ from the result, performance, or expectations expressed or implied by such forward-looking statements
SOURCE: American Energy Production Inc.
SOURCE: American Energy Production, Inc.
Consulting For Strategic Growth I, Ltd.
Corporate Development Consultants
Mr. Gerald Franz, 800-625-2236
Fax: 212-697-0910
cfsg@consultant.com
or
American Energy Production, Inc.
Mr. Charles Bitters, 210-410-8158
www.americanenergyproduction.com
