American International Petroleum Corporation (fka AIPN)

[Begesh]

Golfer, this says it well,

http://ragingbull.lycos.com/mboard/boards.cgi?board=AIPN&read=52228

By: carefulinvestor
13 Aug 2002, 01:47 PM EDT Msg. 52228 of 52249
(This msg. is a reply to 52222 by carefulinvestor.)

More confirmation that Sniper was right!

1. "The terms of this transaction have been agreed to
and implementation is contingent upon securitization of crude oil
purchase contracts and financing to support our purchase of crude oil
and asphalt feedstocks"

2. Our management believes the anticipated cash
flows from this transaction are sufficient to support all of our
overhead and domestic operations during the transaction's five-year
term.

"In June 2002, we sold $1.9 million principal amount of our 12%
bridge notes due March 18, 2003 to GCA for a purchase price of $1.9
million and a warrant to purchase 3.6 million shares of our common
stock at $0.04 per share. We will use the net proceeds of
approximately $1.6 million to support our working capital needs. We
are engaged in negotiations for a transaction that would put our
entire refining and asphalt facility in Lake Charles to work on a
long-term basis. The terms of this transaction have been agreed to
and implementation is contingent upon securitization of crude oil
purchase contracts and financing to support our purchase of crude oil
and asphalt feedstocks. Our management believes the anticipated cash
flows from this transaction are sufficient to support all of our
overhead and domestic operations during the transaction's five-year
term. It should also enhance our ability to refinance our existing
debt, although there is no certainty this will be the case. If we are
unable to secure adequate financing to consummate this transaction,
we may need to curtail our operations."

Doc found this one (http://www.investingdd.com -- AIPN board).

Compare with:


By: carefulinvestor
26 Jul 2002, 11:00 AM EDT Msg. 51271 of 52226
(This msg. is a reply to 51244 by carefulinvestor.)

INFO the BASHERS don't want YOU to SEE:

---

Sniper writes:

Listen close BF - Sniper does not care whether you believe him or not. I have stated how and when I got information - I have not nor will I give you the source - period! However, the following are facts (believe them or don't-your choice):

1. The deal has been signed by both parties!

2. There are "performance criteria" in the contracts prior to announcement.

3. Total is the partner!

4. This is a multi-year, multi-product, multi-area deal!

5. Feedstock is on its way to the LC refinery!

I could give you more "facts" - but chew on those awhile! BTW - my information comes from the industry...

http://ragingbull.lycos.com/mboard/boards.cgi?board=AIPN&read=50230 (emphases added)

BTW, all this was again confirmed by sniper yesterday. See:

http://ragingbull.lycos.com/mboard/boards.cgi?board=AIPN&read=51123

Another interesting quote from sniper:

"I have been in the offices of AIPN (all of them), including your oftmentioned "map room"! I have had discussions with all of the executives past and present (excluding Knight), since 1998. And I have been privy to conversations re potential suitors."

http://ragingbull.lycos.com/mboard/boards.cgi?board=AIPN&read=44954

FWIW & IMO




(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)