mom2jbk, some folks think I'm a pretty fart smella, dsylexic too, lol, you wouldnt know it by the membermarks though. I like to see things in black and white. Doc will agree to this next statement. When the company was selling shares to generate capital, it was PR's galore. They sold themselves almost completely out of the company itself. The only way to save the company he built was to increase his ownership. The Preferred share issue was inked long before anyone of us ever heard about American Energy Production, and long before AMEP became a "watch" on anyones radar screen. That arguement is a moot point far as I'm concerned!
Charlie had less ownership than some whale shareholders. He had to do the RS to maintain ownership.
Really now, when has anyone of us ever had any input about daily company operations? Never, would be a likely answer. For that matter, I dont have a say with Any of the public companies I own stock in either. (I feel bad for the Bear Stearns shareholders though.)
The way the RS was presented and unprofessionally mishandle, was a managerial blunder. Even if it was presented differently, the outcome would still be the same. I was pissed off like a Mmmmmmmm MMMM, lol. Everyone was... In my mind after the mercury settled down, it made sense to me to retain a portion of my shares/investment in helping the company advance, versus a almost certain death. Who in their right mind would continue operations if there was no reward in it for them? We were presented with a case, the facts were sketchy, based on that we all voted our minds, the RS passed and a year latter most of us are still here pondering where this company is headed.
I mentally compute CB's actions as this. Oddly enough, CB comes thru with what he says. Attempting to set a rigid timeline to everything
Does
Not
Work
be it with this company, or something in our personal lives.
Get over it.
Charlie isnt going to communicate the value of anything....until, he's ready....period! Charlie is the CEO and head monkey wrench for this organization. He's one of a few 62 year olds I know that works everyday in developing this company.
The value of this company will be communicated thru the SEC filings, which mind you have been filed (past and present) according to the guidelines.
Looking back, CB went from a aquistion & holding company with limited properties, to a drilling operator aquisition & holding company, aquiring thousands of leasable acres in multiple Texas counties, aquiring tons of iron and steel equipment, 3 subsidiaries and 2 drilling rigs with 500,000,000 shares. Is there anyone here, who can do better?
I could go on and on and on, the point is, it takes a minimum of 3-5 years in developing a business, and I dont care what kind of business it is, it still takes that long.
Many of us are at the 2-3 year mark, a few even longer. We are at the stage where alllllllllllll the hard work, all the frustration, aggrivation is coming to a head. We're in a age where $100.00 oil is now common place.
This company in a few days will be out from beneath the BDC film once and for all. With that a new reserves report must be filed with the appropriate authorities in determining the "value" of this companies holdings. Am I the only person to read SEC guidelines?
We all have the ability to monitor well drilling/completion operations by way of the Texas Railroad Commission, the governing authority in Texas.
AENP has wells, lots of them, they have oil, natural gas, sweet condensate and sour crude. AENP has an abundance of leases in Fisher, Jones, Comanche, Eastland, Parker, Taylor, Palo Pinto, Hood, Guadelupe, Bastrop and Medina counties. They have gas transmitting pipeline under the Brazos river, thats something many companies dont have. They have 8700 acres through out the state. They have oil and gas production, not promises of it, actual production that WE monitor.
So 7 months after the RS took effect we have......nothing?
No my friend, you are very much mistaken, we have alot going for us, alot going on, alot conitnuing to go on and being developed.
It doesnt make sense to announce any of the "things" CB is and has been working on under the old BDC rule. It makes perfect business sense in releasing all of this information to the general public as a fully reporting company, magically coming onto the stressed O & G scene.
There is a method to CB's madness....
His words are....
"everyone will be happy"
I'll grant him the latitude in making those words stick.
