AMEP UPDATE: re-posted for the weekend DD warrior that may have missed this post during business hours. Note in the Scottrade buys at the bottom, that I bought/added 1,405,000 shares this week after returning, most at .054, which was a SP available all week long ...to 'all' investors, I also added smaller amounts every day after this post was originally made around the same SP. I would think these buys 'speaks volumes' about how I feel about AMEP prospects, I'm putting my hard earned money on the line based on non-material information of what I saw and heard. The bashers that say I'm dumping apparently cannot read. Anyone is welcome to spend their dime, as I did, and go see the entire operations, ...anyone. Although I do not have to, I am sharing my DD here with many friends and a few relatives; and if anyone does not care to believe, they are welcomed to skip my posts.
---------re-post from earlier this week----------
I told Charles Bitter's that I would wait until he post pictures on the newly acquired Ideco H-40 rotary drilling rig, before I posted my pictures and the corresponding notes. However I feel this one post would be OK, just to let everyone know that all I saw, and heard, was highly positive, and that I was still accumulating AMEP shares. This will be my only post, until the rig pictures are made available on the AMEP web site.
BTW, I am not involved with any of the limited partnerships, as that is a tax break for individual earning profits directly from Oil and NG sales. I feel the stock will return more bang for the buck, to the average investor like myself. I 'may' however reconsider in the future, since I am over-weighted in the stock; and would like the cash flow, while keeping the stock shares. Regardless, I will not be selling a share this year, and I still have every share of AMEP that I have ever bought. I do not plan on selling any shares until AMEP is trading in the dollars range, which I expect next year, based on ramping revenues from the drilling program, and AMEP turning a nice profit.
The rig is ready to go except for a torque converter that required re-building. I helped Mr. Bitters deliver that torque converter to a shop in Ft.Worth last Thursday afternoon while eleven experienced AMEP rig hands were busy with other minor tasks at hand, and I expect to hear it has been returned and installed at any time. Once that is done, the derrick will be raised and the rig will be photographed, and then will ready for drilling. All the engines and the turn table "runs like new", and that was how the experienced rig hands described it, "runs as smooth as a sewing machine" as another one said to me.
I am currently working with 'Rocky' on about 20 pictures and comments that will be posted on his fine "Unofficial AMEP Web Site". He will release those pictures right after AMEP releases theirs.
Based on the size and condition of the rig, plus seeing some of the wells that are currently producing, and seeing how knowledgeable and hard working the management and rig hands are, prompted me to continue to add to my position. Seeing the 3-D acquisition in the field was highly encouraging too, and will highly increase AMEP chances for drilling high producing horizontals in the Barnett formation, without hitting a fault/fracture that may run into Ellenberger formation below the Barnett, and bringing in water.
I thought it would only be fair to let my fellow longs know that I am still buying based on the above. I bought 1,405,000 shares this Monday, and a smaller, but additional amounts throughout the week. I plan on buying a few more too, to try and round out the position before the drilling program starts.
FWIW, I have also advised my family and close friends to buy now too, ... and they have.
GL all.
... %^ greeneyedhawk
BUY 50000 AMEP $0.054 $2,720.50 XLA077020051107 11/7/2005
BUY 100000 AMEP $0.054 $5,427.00 XLA077020051107 11/7/2005
BUY 76000 AMEP $0.054 $4,124.52 XLA077020051107 11/7/2005
BUY 20000 AMEP $0.054 $1,085.40 XGB204420051107 11/7/2005
BUY 3000 AMEP $0.054 $162.81 XGB204420051107
11/7/2005
BUY 52500 AMEP $0.054 $2,849.17 XGB204420051107 11/7/2005
BUY 50000 AMEP $0.054 $2,713.50 XGB204420051107 11/7/2005
BUY 196300 AMEP $0.054 $10,660.20 XMB111620051107 11/7/2005
BUY 98000 AMEP $0.054 $5,318.46 XLA077020051107 11/7/2005
BUY 123700 AMEP $0.054 $6,713.20 XMB111620051107 11/7/2005
BUY 35000 AMEP $0.054 $1,899.45 XMB111620051107 11/7/2005
BUY 50000 AMEP $0.054 $2,713.50 XLA077020051107 11/7/2005
BUY 56000 AMEP $0.054 $3,039.12 XLA077020051107
11/7/2005
BUY 100000 AMEP $0.054 $5,427.00 XLA077020051107 11/7/2005
BUY 24500 AMEP $0.054 $1,336.62 XGB204420051107 11/7/2005
BUY 74800 AMEP $0.052 $3,909.05 XWA788520051107 11/7/2005
BUY 25000 AMEP $0.052 $1,306.50 XWA788520051107 11/7/2005
BUY 15000 AMEP $0.052 $790.00 XWA788520051107 11/7/2005
BUY 100000 AMEP $0.054 $5,427.00 XKA389420051107 11/7/2005
BUY 5000 AMEP $0.054 $271.35 XKA389420051107 11/7/2005
BUY 50000 AMEP $0.054 $2,713.50 XKA389420051107 11/7/2005
BUY 45200 AMEP $0.052 $2,362.15 XWA788520051107 11/7/2005
BUY 5000 AMEP $0.054 $271.35 XKA389420051107 11/7/2005
BUY 50000 AMEP $0.054 $2,720.50 XKA389420051107
11/7/2005
Good luck and good DD all AMEP longs.
... %^ greeneyedhawk
