Replies to post #20255 on American Energy Production Inc(fka AENP)

[ctb]

I understood that the gag was throughout the entire period of the SEC review of their failure to comply with the BDC regs, and into the proxy and voting period. The gag should be in the process of being lifted. I have given the company the benefit of the doubt during this period, knowing that work was being done out in the field. It is true that starting now I am going to stop being so patient.


I refer you to many posts on this subject. For example, here is hawk talking recently about it:

Posted by: greeneyedhawk
In reply to: SABAI_SABAI who wrote msg# 18680 Date:2/13/2007 10:37:07 AM
Post #of 20250

AMEP has been working with the SEC to withdraw from the BDC status, which was a positive and resulted in the 'AMEP Special Meeing' and proxy vote for the BDC withdraw next month.

Speculation - IMO AMEP's attorney has recommended not releasing well PRs during this quite period working with the SEC which can be SOP, so as not to appear to influence proxy votes, and also eliminates SEC review of released PRs during this period; which could have resulted in taking longer time to complete the BDC withdraw process.

IMO and the DD, says that they are having additional time to 'stabilize' and fine tune several wells for peak production during this period. The 'stabilized' call is up to the operator, so there is likely some room for flexability, and decision for a PR.

I am logically speculating that AMEP will be releasing a backlog of several well PRs, sometime soon after the special meeting next month.

AMEP has not been sitting around doing nothing during this quite period, yesterday AMEP applied for a new well permit in Hood County, another county covered by the Barnett Shale. Is this on a new AMEP Barnett Shale lease? Or drilling for contract drilling someone else for fees and possibly a ORR percentage of the well? Either way, progress is being made.

Recently AMEP received approval and permit to drill the horizontal Padgett #12 ...more signs of progress.

The Padgett #12 horizontal on the Padgett lease, could be drilled at the same time that the Hood County well is drilled. If that happens, it will mark the first time AMEP will be drilling two wells at the same time; and at some point, doubling AMEP's new production capacity.

GLTY SABI,
...greeneyedhawk