Good post, and it sums up the situation well. Everyone wants a PR update on all the drilled and completed the wells - everyone long that is -, it is way overdue. However, now we know the silence was because of legal advise while dealing with the SEC on the successful BDC withdraw. So logically when we do get the PR updates, they will likely cover multiple wells. With follow up PRs covering the Padgett lease wells, as well as the Hood County well, .....per permit data, with dates, location, formation, depth, field name, etc, approved on the TRRC site.
Tomorrow would not be too soon to see the updates from the field, we all agree on that, just some express it different than others, and the long wait through the silent period has been trying every longs patience, including yours and mine.
That said, I have been accumulating a long position with AMEP since 2004, and bought more after each DD trip to the company confirmed in my mind that the CEO would "drill this company to profitability".
I have added as recent as a few days ago, because the company is continuing to make progress, ie they are drilling the Padgett #12 as I type this, which is slated to be horizontal into the Barnett (you can see, and hear, it being drilled by the Phantom #1 from the pubic highway). As everyone knows who is closely following AMEP, because of the geographic coordinates listed on the TRRC site; we know the horizontal #12 is being drilled in a very close offset to the just completed #11. That logically that says the #11 well must have been pretty good, or they would have drilled elsewhere on the 7,000 acres of Barnett that they have under lease. The DD says the company will be cash flow positive, and profitable from the sales of oil and gas by the time the Padgett wells are announced, 'providing' that they are good average vertical and horizontal producers from the Barnett, considering the small loses in recent Qs. This is my DD and my personal opinion, everyone should do their own personal DD, and draw their own conclusions, there is plently of material to study on the Barnett Shale, AMEP, TRRC data, and opinions regarding the future of oil and natural gas investments - in domestic USA.
Point is, personally I think we are very close to hearing about all these developments on several leases; and since I have held on through the rough part - getting out of the BDC, I can make it past a few PRs to see if the DD is correct, and see the company post profits in the coming Qs based on the sales of NG and Oil alone.
Again, I don't think anyone is pleased about how long it is taking to get the updates from the drilling program, and some of us are preaching that 'message to the choir' out of frustration; while some patiently hanging on and seeing the glass half full and getting fuller, ...but all of us longs are on the same team - wanting to also see SP growth in their investment in AMEP. I think we will see that when they add in the new production from the new well drilling program, ...and AMEP PRs the results. All IMVHO.
Good luck longs,
...hawk
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