American International Petroleum Corporation (fka AIPN)

[Begesh]

ks7777, great call todays volume and price might point to something like what is being talked about at http://www.investingdd.com taking place.. Maybe this will be the start of the turnaround that sniper and other people were talking about on rb.

http://ragingbull.lycos.com/mboard/boards.cgi?board=AIPN&read=48463

By: carefulinvestor
20 Jun 2002, 11:52 AM EDT Msg. 48463 of 52852
(This msg. is a reply to 48417 by carefulinvestor.)

GREAT NEWS TODAY for those who understand business and realize how close we are to what sniper optimistically termed:

"one of the best turnarounds in history!"

( http://ragingbull.lycos.com/mboard/boards.cgi?board=AIPN&read=48364 , emphases added).

BTW, for those with the eyes to see (and even a modicum of kindness in the heart) it is evident that what some of the best posters here (Doc, Spin, Sniper, et al.) have been reporting all along is definitely IN THE WORKS.

Furthermore, as anyone who has been involved with business knows, it is impossible to know the exact timing for which deals will be struck and contracts signed.

This becomes even more of a guessing game as the deals become more complex and numbers involved larger. And when one of the deals involves a shipment of crude, as handstramp pointed out at DOC$ AIPN board ( http://ragingbull.lycos.com/mboard/boards.cgi?board=AIPN&read=47719 ), many others factors need to be considered.

I think this PR also signals the fact that George Faris (GF) is on the w out and Jim Knight (JK) will be at the helm from now on.

From this news, and if all goes well, the following could (should?) all take place:

1. A multi-year, profitable, refinery contract
( http://ragingbull.lycos.com/mboard/boards.cgi?board=AIPN&read=47411 , http://ragingbull.lycos.com/mboard/boards.cgi?board=AIPN&read=47147 ).

2. Debbers eliminated (watch what happens to the pps at this point!).

3. A deal on 1551.

4. More drilling on 953.

Can you imagine what the price per share will be at (especially compared to the present pps) if drilling starts on 953 (which gave us a 533% increase last time, with nothing else happening), the refinery is running full out year round (with a contract with a major!), the debbers are gone (and can't hold the pps down, as now) and a good deal on 1551 has already been signed (hint: see http://ragingbull.lycos.com/mboard/boards.cgi?board=AIPN&read=31450 ).

With that said, here is the news (below, with emphases added) for anyone who missed it.

If you can read between the lines (or pick up on the emphases) you still have time to make yourself a bundle of money on this stock.

The big hits are coming, it is only a matter of time now!!!

GOOD TIMES COMING FOR AIPN!

FWIW & IMO

P.S. Almost forgot, but it is very nice to see that AIPN has responded directly to shareholder requests for an update (again see DOC$ AIPN board for more information).

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(COMTEX) B: American International Petroleum Places $1.9 Million Convent
B: American International Petroleum Places $1.9 Million Conventional Debt

NEW YORK, Jun 20, 2002 (BUSINESS WIRE) -- American International Petroleum
Corporation (OTC BB: AIPN)), announced today that it has sold a nine-month $1.9
million 12% secured Bridge Note to GCA Strategic Investment Fund Limited
("GCA"), Hamilton, Bermuda.

The proceeds from the financing will be utilized for working capital purposes.
This will also allow the Company more time to work towards the completion of
ongoing negotiations to put its entire Lake Charles facility to work on a long
term basis, and to consummate a refinancing to replace its existing debt.

"We continue our efforts to complete a long-term transaction for our Lake
Charles facility, which includes both processing crude oil and manufacturing
asphalt," said Company President Jim Knight. "We have seen in the past that the
best way to maximize the profits of our Refining Division is to operate all the
units simultaneously. We are making progress towards achieving this goal and,
although we can't be certain at this point, we hope to complete a deal soon
transaction should provide the necessary cash flow and margins to enhance
our ability refinance our debt. That is the next step.". He also said that the
Company has informed its principal lenders that it intends to attempt to redeem
its existing debt as soon as practicable and that the lenders were receptive to
such a plan.

The Company continues to have discussions with potential partners regarding a
farm-out of some of our 100% working interest in License 1551, the Shagyrly gas
field in Kazakhstan. Any proceeds that may be derived from the possible sale or
farm-out of a portion of our oil and gas concessions in Kazakhstan will be
utilized to repay debt, fund the development of our License 1551 gas field and
the minimum work program at our License 953, and for general corporate uses. The
majority of the development funding for License 1551 is expected to be derived
form project financing.

American International Petroleum Corporation is a diversified petroleum company
which, through various wholly owned subsidiaries, is involved in oil and gas
exploration and development in the Republic of Kazakhstan, and in processing
crude oil, and in marketing and transporting a wide array of refined products in
the United States.

Statements herein may be identified as forward-looking for purposes of safe
harbor provisions under Section 21E of the Securities and Exchange Commission
Act of 1934. Such statements relating to the Company's business, including those
specific to this press release, including efforts to complete a long term
contract for Lake Charles; ability that such a deal will enable satisfactory
cash flow and margins to allow refinancing, or enable all units to operate
simultaneously; ability to redeem existing debt; or, consummate a farm-out
agreement for Kazakhstan Licenses; and all future business of the Company, are
subject to risks and uncertainties that could cause actual results to differ
materially from those statements and other risks and factors, identified in the
Company's SEC filings.


CONTACT: American International Petroleum Corporation
Michael Dodge, 212/688-3333

URL: http://www.businesswire.com
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Copyright (C) 2002 Business Wire. All rights reserved.

-0-


KEYWORD: NEW YORK
INDUSTRY KEYWORD: ENERGY
OIL/GAS
UTILITIES
SOURCE:
American
International
Petroleum
Corporation

*** end of story ***


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