American Energy Production Inc(fka AENP)

[Slippery Wing]

Interesting. I'll keep my eyes open for it.

From a macro perspective, the last 5 years were a terrible time to expand production through drilling. Any new acreage had to be bought at a huge premium due primarily long-range forecasts of outrageous prices, much less the current market value for crude at that time.

Drilling costs were atrocious, and pipe dope was $100 per bucket off the drilling rig (retails for about $25).

Anyone who bought production in the last 5 years is probably under water right now, and those without liquidity and huge amounts of debt are suffering, and I wouldn't be surprised to see a few mismanaged E&P companies go under (and they should). Chesapeake is a prime example.

I can't say anything about AENP since I got out a while ago, but if we can keep oil prices in the $40 range for another couple months, land will start to get cheap again and operating costs will start to look "normal".

Just my point of view, and again, I have no opinion on AENP. Just check in once in a while to see who's still around.