ctb, by electing to structure itself as an unusual O&G BDC, AMEP effectively made the decision not to consolidate financial statements with its investees yet not to file individual reports on the investees’ independent operations either. Why did AMEP make this uncommon and glaring effort? The company seems to suggest this was done to maximize its ability to raise capital. However, it also could be seen as an attempt to avoid uncomfortable public disclosures.
As to why the stock price has been moving contrary to AMEP’s apparent value, I don’t yet know; hence my questions. Maybe the BDC election has spooked or at least confused buyers. Perhaps the small float has been used to manipulate the price (although volume and the periodic sharp spikes up dispute this). Of course, the fear is that the stock price in fact HAS been providing an accurate reflection of the company’s shareholder value.
I like AMEP and I want to keep liking it because it still appears to be easy money (I agree with Hawk that most of AMEP’s oil ultimately will be the higher-value light sweet rather than the heavy crude now being sold). But I also want to learn more about the shares and what their trading is trying to reveal. Such a small capitalization on an equally small float usually is either manipulated, locked-up in “strong hands” or not traded at all (no interest). But it doesn’t look like any of those things are happening with AMEP. This company seems to have such great prospects and its shares have been trading in very high daily volumes, yet at $6M AMEP still appears to be grossly undervalued. I just want to discover what I am missing.
Also, I’ve found that as often as not American Bulls is a contrary indicator though sometimes they’re just late to the party.
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