For New Eyes: There are two important AMEP developments continuing to fuel the recent run, or correction from being way oversold.
Reason #1, the main reason:
The SEC website came out with a bullish notice for AMEP:
For New Eyes, AMEP Special Meeting notice and Preliminary Proxy statement to withdraw as a BDC (Business Development Company). This will allow AMEP to show all revenues, including Oil and Gas revenues from it’s wholly owned investees. AMEP will become an Oil and Gas Production and Drilling company, …a very bullish event.
FYI and DD:
-----------------start of copy ------------------------
PRE 14A 1 ameppre14a.htm AMEPPRE14A
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
Filed by Registrant /X/
Filed by a Party other than the Registrant /_/
Check the appropriate box:
/X/ Preliminary Proxy Statement.
/_/ Confidential, for use of the Commission Only (as permitted by Rule 14a-6(e)(2)).
/_/ Definitive Proxy Statement.
/_/ Definitive Additional Materials.
/_/ Soliciting Material Pursuant to § 240.14a-12.
American Energy Production, Inc.
(Name of Registrant as Specified in its Charter)
N/A
(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)
Payment of Filing Fee (Check the appropriate box):
/X/ No fee required.
/_/ Fee computed on table below per Exchange Act Rules 14a6(i)(1) and 0-11.
(1) Title of each class of securities to which transaction applies:
(2) Aggregate number of securities to which transaction applies:
(3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):
(4) Proposed maximum aggregate value of transaction:
(5) Total fee paid:
/_/ Fee paid previously with preliminary materials.
/_/ Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.
(1) Amount Previously Paid:
(2) Form, Schedule or Registration Statement No.:
(3) Filing Party:
(4) Date Filed:
-1-
American Energy Production, Inc.
6073 Highway 281 South
Mineral Wells, Texas 76067
NOTICE OF SPECIAL MEETING OF SHAREHOLDERS
To Be Held On December 29, 2006
To the Shareholders of American Energy Production, Inc.:
NOTICE IS HEREBY GIVEN that a Special Meeting of Shareholders (the “Special Meeting”) of American Energy Production, Inc. (the “Company”), a Delaware corporation that has elected to be treated as a business development company under the Investment Company Act of 1940, as amended (the “ 1940 Act”), will be held at the Best Western Club House Inn & Suites, located at 4410 Highway 180 E, Mineral Wells, TX 76067 on Friday, December 29, 2006 at 10:00 a.m. Mineral Wells time, for the following purposes:
1. To elect to the Board of Directors of the Company (the “Board”), Mr. John Powell, Mr. Larry P. Horner and Mr. Charles Bitters;
2. To authorize the Board to withdraw the Company’s election to be treated as a business development company (“BDC”) under the 1940 Act; and
3. To transact any and all other business that may properly be presented at the Special Meeting or any adjournments, thereto.
-------------end of copy---------------------------------
With the BDC withdraw on the 29th of this month, IMHO the silence from AMEP will be lifted, and we will hear about production and drilling activities with positive PRs. That should start the run to some of these high share price targets for 2007 that I've seen lately, including stock picking sites.
The markets see this BDC withdraw as a bullish new beginning, with AMEP being able to report the consolidated revenues of it's wholly owned investees, as it could not under the BDC status. That is about to change, and the solid fundamentals and great technicals should start AMEP breaking through old highs.
BTW, I'm looking for AMEP to make the technically bullish 'Golden Cross' again in the near future. Pull up a 2 year chart where you can see the last time AMEP made the bullish 50/200 MA Golden Crossing, it became a ten bagger going from .0145 to .145 in short order. Pull up a longer range chart, and you will see the GC before that was a 9 bagger. AMEP has established an excellent and bullish track record with the GC event. I am looking for the coming GC to be a very strong technical move, with AMEP losing the BDC status, and able to report all revenues, along with reporting the results of drilling activities, and reworked wells, worked in 2005. I am also looking for the 2nd drilling rig to get it's first drilling assignment and PR, which will potentially 'DOUBLE' AMEP's new revenue capacity, ...I think that event will also help fuel the Golden Cross fire.
BTW, once again I have been buying shares recently, and posting the fact in anticipation of another Golden Crossing fueled by stronger fundamentals.
Strong technicals converging with stronger fundamentals in the near future, is a remarkably bullish event.
IMHO,
...hawk
Reason #2:
An important recent development; AMEP will put it's first horizontal drilled well into the prolific and thick Barnett Shale formation:
AMEP application for a new well permit showed up on the TRRC site late yesterday. The new well is on the Padgett lease, it is Padgett well #12, for drilling horizontal into the Barnett Shale. The last well, the Padgett #11 was drilled on this lease; IMHO logic dictates that they must have been happy with the Padgett #11's results, or they would have drilled elsewhere on the 7,000 acres of AMEP leased Barnett Shale with 100% blanket coverage; a big clue regarding the O&NG production potential AMEP obviously believes this Padgett lease has IMHO:
Posted by: contractor10940
In reply to: None Date:12/14/2006 9:12:52 AM
Post #of 15182
Submitted 12/13/2006
the drilling program is moving forward....
Status # 630494
API # 363-35622 OP # 679595 - PROCO OPERATING CO., INC.
Pending Approval , Submitted 12/13/2006 , Filed Hardcopy PADGETT RANCH - Well # 12 H
7B - PALO PINTO County New Drill
Horizontal
IMO it will be a Happy New Year!
(credit goes to Tharmon51, for the new find on the TRRC site.)
.
News 
Market Data 
Discover 
