Contractor, that is a big increase; and that is out of the Marble Falls formation, another nice producing formation that is an approximately a 250' - 300' cap over 100 percent of AMEP's Barnett Shale.
Now if the Nash Murphy #1 (gusher pictures) proves up big; that will give AMEP 3 significant producing formations, to go along with the older and shallower production out of the Strawn and Conglomerate formations, also found throughout the leases.
The oil and gas product is there on both leases is in huge quantities and 'proven'. The Fort Worth Basin where all the leases are located has eleven proven basic hydrocarbon formations to target. AMEP needs to get both these drills going 24/7, and there is the plan to finance that activity with 144 lock up shares in a private placement, where us shareholders will not see company shares dumped into PRs, and Q revenue increases, as the SP runs. Shareholders will own the same percentage of the tradeable float that they now own, as they will during the lock up period, and also during the following period, that takes time to get the shares registered and qualified by the SEC before becoming tradeable. That said, the smart money (millions in private placement) that wants in AMEP, will not likely sell after the lock up period expires and shares registered with the SEC, just as the company is in the high growth stage, ...and likely on the AMEX exchange, where many fine Junior Oils are listed.
That will give AMEP shareholders an oil and gas drilling and production company that will seriously ramp up drilling activity on the proven Padgett and Hart Ranch leases. The Barnett has now been proven up to be a very good producer on both these leases, possibly a monster formation on the Padgett; and soon we will know what we have in the Ellenberger/Mississippi Pinnacle Reef formation under the Hart Ranch lease, that is covered above by a huge dome in the low porosity Barnett Shale.
I'm for AMEP to go all out with funds, and complete the drilling program on both of these leases until the well spacing is maxed out, ...ASAP. That will give AMEP huge quarterly revenues, with zero debt to subtract from the bottom line.
As always, do your own DD and come to your own conclusions,
...greeneyedhawk
