AMEP had a Net Income of (207)K last quarter, and that is a very little loss. Bashers would not want you to think about that, they print the boiler plate. The next well, AMEP's first horizontal, should exceed that amount (207)K by quite a bit. There will be well, after well, after well, drilled on our own leases, and with our own AMEP owned rig. (207)K will be easy to overcome. CEO says AMEP will be profitable in less than a year now. He has a plan, ...and it is coming together nicely with the newly acquired big Ideco Rig.
This is the AMEP Financials News Release dated Aug 31:
-----------------------------
"Income Statement:
View: Annual Data | Quarterly Data All numbers in thousands
PERIOD ENDING 30-Jun-05 31-Mar-05 31-Dec-04 30-Sep-04
Total Revenue - - - -
Cost of Revenue - - - -
Gross Profit - - - -
Operating Expenses
Research Development - - - -
Selling General and Administrative 113 68 86 122
Non Recurring - - - -
Others 2 2 2 2
Total Operating Expenses - - - -
Operating Income or Loss (115) (70) (88) (124)
Income from Continuing Operations
Total Other Income/Expenses Net (2) (2) 5 5
Earnings Before Interest And Taxes (116) (71) (83) (119)
Interest Expense 90 384 (243) 1,088
Income Before Tax (207) (455) 161 (1,207)
Income Tax Expense - - - -
Minority Interest - - - -
Net Income From Continuing Ops (207) (455) 161 (1,207)
Non-recurring Events
Discontinued Operations - - - -
Extraordinary Items - - - -
Effect Of Accounting Changes - - - -
Other Items - - - -
Net Income (207) (455) 161 (1,207)
Preferred Stock And Other Adjustments - - - -
Net Income Applicable To Common Shares ($207) ($455) $161 ($1,207)"
------------------------------
FYI... %^ greeneyedhawk
