The new rig changed AMEP from a penny stock to a real junior Oil and Gas company. Prior to acquiring the new rig, AMEP was a penny O&G that had some POTENTIAL NG assests in the lucrative Barnett Shale. I say potentail because the NG reserves don't do much good if you can't get them out of the ground. This was the problem because rigs were on a 6 - 12 month waiting list with continuos delays. This kept AMEP as a penny O&G. Now, AMEP has the new big Ideco 8,000' Rig. This changed the whole story. Now instead of waiting 6 - 12 months to get a rig to drill 1 hole, we can drill 20 holes a year on our own schedule.
20 NEW WELLS A YEAR IN THE PROLIFIC 7,000 ACRES OF THE BARNETT SHALE!!! This is why AMEP PPs will continue to climb into the $$$. Good luck longs....
Posts are IMO. Do your own DD and make your own decisions. Good luck to all!
