mom, good post. My thoughts are similar to yours on both the AMEP opportunities and their failure to communicate better. However, I feel confident that CB is going to turn this situation around. The SEC issues have tripped them up and this has resulted in the poor communication (whether this is required by the SEC or his self imposed way of dealing with the situation). Remember that they are continuing to rework the wells to increase the production, so it isn't like they have shut down operations.
Definitly I am disappointed and frustrated, but all the good things that we have talked about with AMEP are still there; it is just that the timeline has been slower than we thought because of some complications with some of the wells. The complications have caused delays, but not failures; reports indicate that these yet unreported wells should be commercial.
I looked into UPDA and many other companies but chose to overweight AMEP because of what they have -- the 7,000 acres in the Barnett Shale, one operational big drilling rig, one other medium rig that is almost ready to drill, at least one or 2 workover rigs, the Ottis Pump, and some very experienced and exceptionally hard working people running the show (CB and his brother Johnny). I'm sure there are even more "positives" that they will be able to tap into.
I know many have become frustrated with CB, but this is still an evolving story and I have stayed with them because I really believe CB can do this. I agree that is great achievements in the field have been compromimsed by his failures communicating, but I am hopeful that this will be improved on with input from us longs that have stood by him. Even if this is never as good as it should be, I think the production gains we should be seeing in the coming months should convince investors that this is a successful and growing company.
I don't know when the changes will be PR'ed; if not by the end of the year, I would think early in the new year.
Mike
PS-- Happy Birthday Dart; for your sake, I hope CB gets this back on track sooner rather than later. You deserve to be able to enjoy some gains from this investment.