Replies to post #13465 on American Energy Production Inc(fka AENP)

[Mongo1071]

Dave, do you mean that

there are more deals for 'asset purchases' from CB's brother?

http://www.sec.gov/Archives/edgar/data/1111391/000110801706000594/amep10q.htm

Page 15

"....On February 20, 2003 (the “Acquisition Date”), the Company acquired from a certain related party assignor, who is controlled by the brother (see Note 5 - Debt and Note 8 - Related Party Transactions) of the Company’s president and a director, an interest in certain oil and gas leases, oil and gas wells located on those leases, surface and underground equipment, pipelines and other property and fixtures in or on the leases, rights of way, leases, contracts and agreements for pipeline compressor stations or boosters utilized in the operations of the facilities by the assignors. The above properties are located in Comanche and Eastland Counties, Texas, in the United States of America. The Company planned to extract and sell oil and gas from existing wells. The consideration paid was a convertible promissory note for $2,000,000 at 6% interest, maturing July 25, 2007. All the leases and wells are collateral for the promissory note.."


Mongrel

[ctb]

Careful Dave - it doesn't take much to get brother mongrel quoting a verse from his favorite book. But don't worry, the sermons from his playbook are mostly several years old, and a bit dog-eared by now. Gee, I thought Halloween was over.

It's true that Charles Bitters isn't drilling his 7,000 Barnett Shale acres as fast as we'd like, and if he didn't do any new drilling at all, ummm, that would make your scenario plausible.

I guess we'll have to wait and see if the five drilling projects being worked on come to fruition - if they do, then we can conclude that Bitters intends to derive income from his assets and grow his company. That's what I've been betting on.