explorer, you posted on this AMEP board, that you are speculating that TNOG has "3 wells coming online soon with at least 50 bpd and a pipeline being built at the expense of another company for gas."
AMEP has just one of it's wells actually producing what you are speculating that all 3 of those wells may produce:
Bend Arch Petroleum Inc. management commented, "The new well has produced over 1000 barrels of oil and approximately 2.5MCF of natural gas in the past week. The well has not yet stabilized and is very erratic while the fracture completion fluid is being recovered. The revenue from this new production is expected to significantly assist us on our ongoing drilling and exploration programs."
BTW, this well is not the only big producer on the Palo Pinto lease. Expecting news on the nash well anyday, that well could very well be a bigger producer. The clue is adding the Uni Draulics Jet Pump:
American Energy Production Inc. Announces Success on Initial Start-up of Uni-Draulics Jet Pump on Bend Arch Petroleum Inc. Nash 1-C Barnett Shale Well
Wednesday June 15, 8:00 am ET
MINERAL WELLS, Texas--(BUSINESS WIRE)--June 15, 2005--American Energy Production Inc. (OTCBB:AMEP - News) announced today its wholly owned investee Bend Arch Petroleum Inc. began operations of a uni-draulics jet pump on the Nash 1-C Barnett Shale well.
Charles Bitters, President of American Energy Production Inc. stated, "After several days of delays obtaining a down-hole assembly's for the uni-draulics jet pump, Bend Arch Petroleum Inc. began successfully producing the Barnett Shale well on Monday. Management believes it will take a week to ten days for the well to stabilize and have consistent oil and natural gas production rates. However, initial indications point to positive results. After only four hours the well was producing substantial amounts of natural gas. We will post results once the well has had a chance to stabilize therefore giving a clearer picture as to the future of the Nash 1-C well."
The installation of the uni-draulics jet pump on the Nash 1-C well instead of a conventional pumping unit will move more oil and produced water from the wells bore faster and more efficiently than the conventional pumping unit.
I have DDed Both AMEP and TNOG. Without any doubt in my mind, and experience, that AMEP is a much better investment than TNOG with: better leases, proven reserves, current and significant revenues from Oil and NG, and at a lower market cap with not as many OS as TNOG.
GL explorer.
... %^ greeneyedhawk
AI
