American International Petroleum Corporation (fka AIPN)

[Begesh]

sniper from rb (bullish)

http://ragingbull.lycos.com/mboard/boards.cgi?board=AIPN&read=48364

By: Sniper67 $$$$$
19 Jun 2002, 12:02 PM EDT Msg. 48364 of 48387
(This msg. is a reply to 48323 by lubtex61.)
LUBETEX:

I do not visit this board every day anymore so I apologize for the delay in responding. I do try to keep up with the pertinent "chatter" but only in the evening. Lately, however, there has not been much "pertinent chatter"!

Before I answer your question, let me respond to the "apocolypse" issue and reporting of same. First, I would applaud Soup in bringing the issue to the board! DD is hard to find on AIPN these days - it is all talked out! However, a cursory reading of these two documents should have left everyone with a healthy dose of skepticism! There was nothing to this lawsuit and it is not an ongoing issue with the company.

As to SEC filings, they are the best source of "real info" - yet a company is not by SEC Regs required to disclose everything that is going on - or might be going on! I am also amused by the fact that MD talks have, for the most part, been "the real source" of info re AIPN on this board for a long time - and now all of a sudden SEC docs have become the primary believable source!

Now for your question re BF's post:

REFINERY
1. There is no crude yet! But it is available in the marketplace.
2. The refinery is not operating yet!
3. The Partner has agreed to assist AIPN in securing crude plus other financial remedies - due to the crude shortage situation!
4. Management is working diligently to obtain crude.
5. Financing supposedly has been obtained.
6. The agreement will not be announced until crude is obtained.

KAZ LEASES
1. There are ongoing discussions re 1551, principally, and 953!
2. KAZ government has shown a desire lately to obtain pieces of deals involving all leases plus requirements to spend money in-country for infrastructure, local employment, etc. I could expound on this re the Hurricane/Nelson situation - other independents in KAZ - but you might want to go to the HHLF site and read for yourself.
3. AIPN will have to give up a substantial part of its ownership for JV funding but it should wind up with at least 35% (carried interest on production)! And that is still a good deal in by book!

MANAGEMENT
1. Denis Fitzpatrick moved to the Houston office two years ago! Don't get me started on that lad!
2. Both DF and BT can quote almost instantly the number of shares being converted - MD does not have this up to date info!
3. Unless precipitated by JK, AIPN will never consider a strategy or talks with shareholders re PPS. First they don't know how and second, they do not have the Kahunas! This is not my impression of JK however based on my research into his background.

We must continue to understand (and pound into our heads) that Mike Dodge is not a good source of information. I have stated so in the past. He is a glorified IR person who is not always in the loop and also tends to talk too much! Alluding to a fact without definite support is the same as lying in my book - and I have noted several instances of such happening with MD over the past year.

Info is not flowing from the company with the same ease as we enjoyed in the past. This can be a blessing and a curse! PPS does not concern me at this point! The only factor of concern to me is whether management can secure crude and get the refinery operational. This is a must do for cash flow purposes! The real value in AIPN still lies in the KAZ leases.

Best I can do at the moment LUBTEX! I am as frustrated as you, particularly with my insight to management and history. But I continue to remain optimistic that these lads can pull off what would probably be labeled as one of the best turnarounds in history!

However, it is still - EXECUTION! EXECUTION! EXECUTION! -that matters most! That and GF staying out of the way except for occasional counsel! Replacement of the BOD would help also!

JHMO of course!

I am gone for the day!

SNIPER