Replies to post #28051 on American Energy Production Inc(fka AENP)

[shadow43560]

Hawk..how do you reconcile the fact that CB's preferred shares will effectively give him aro 35% of the company if he converts?

[silver1999]

Odd, not a single mention that Mr. CB will recieve a windfall payment in shares and have complete control of the company.

Sounds like someone has sold out. That's too bad. No one in good conscience can vote yes for this.

Our 50M friends will vote no.

[huecares1]

Hawk one question...

Where does it say regulation 144 shares will be locked up?
I beleive that to be one of our biggest worries.

[EepOpp]

i would trust the CEO more if there had been better communication over all this time.

-EO

[cocoa0728]

Green, with all due respect your comments go against all you have been touting just as recent as a few months ago that the corp. is near cash positive and black just after one of these wells online.

GRG

[winnotlose]

Mr. Hawk, I respect you and your decision, but I vote no for the following reasons;

1, It will dilute shareholder value.
2, AMEP's lack of a real plan.
3, Charles Bitters recklessly runs this company as its CEO.
4, Shareholders deserve a break, he already spent almost 500 million shares.
5, Failure to update investors with follow-up PR's, other boardmembers have also pointed this out.
6, Bitters has yet to get shareholders real value.

[winnotlose]

Also, Bitters is stealing 1-25 shares, yes stealing!

[joe5p]

RE: GEH
Now I know how Lee felt at Chancellorsville... sigh.

It's going to be an interesting 5 weeks gang. CTB's right - no shortage of drama.

Wonder what Neld's working on - possibly a common-sense injection rig modified to drill through thick skull...?

[etatsdilos]

Now, why does that not surprise me?

You can walk off the cliff if you want, big guy, but count me out. For going on two years now, I have followed your news-is-right-around-the-corner posts (I'll post links if you'd like), yet here we are at a 52-week low facing an unconscionable power grab designed to make mincemeat of my investment.

I recall a post by Tharmon just after the shareholder meeting in December in which he said to expect a PR by the end of the year. That didn't happen, not because Tharmon posted misinformation, but because he was led to believe by the powers that be that a PR was "just around the corner."

There is no reason whatsoever to play nice with management. They have not been up-front with us, and they don't give a good GD about shareholders. Virtually everything I know about this company, I learned from outside the company. From the company itself, I have learned precious little.

I encourage everyone to register a resounding no to this ripoff. Otherwise, watch your pocketbooks, else they will be emptied.

Looks like Drillbit had the right take on this after all. BTW, is the block on buying on some ECNs still in effect? What was that about anyway?

[Slippery Wing]

Greeneyed, with all due respect, you come off more and more gullible
every time you post.

Sounds to me like you believe every word you hear from the company...
For all you know, they don't have a dime of production for the
company itself. Sure, the TRRC reports that AMEP's subsidiaries are
producing oil and gas, but that doesn't mean AMEP has a working
interest in the wells.

You have no financial statements to tell you that this is a viable
company. NONE!

You've been going on here-say for the last two years about what you've
"heard" coming out of Mineral Wells. You've trusted Charles Bitters
implicitly with your investment, of which you are quick to point out
when you are buying more shares...

Now your "investment" is being cut to shreds, and you're still riding
high on this guy! Give me a break!

The fact that this clown won't go ask for money from a bank to drill
tells me one thing: He doesn't have production numbers to float a loan.

The 12-year old down the street can go to nearly any bank in Oklahoma
or Texas and float a million dollar note if he can show he's got
existing net cash flow from production.

All the more telling that he doesn't have any numbers to back up as
collateral.

By the way, I've got a hell of a stripper well in Kansas that I'm sure
you'd love to take part in. You won't get any working interest, and
neither will I, but I'd gladly give you 200,000 shares in a "company"
that operates the well...

I don't mean to be rude, but at some point you've got to go to Bitters
and tell him to shit or get off the pot.

Let's see some financial statements from the company BEFORE we cut our
money by a factor 25 on the premise that "there are really good things
to come"...

Give me a break!

A fool and his money are soon parted...

[joe5p]

Can anyone else justify/verify this from GEH's post:

With regulation 144 shares locked up to finance going full bore with both rigs on the Padgett and Hart leases; current shareholders will hold all marketable shares new buyers will be wanting as the company brings in multiple wells per month.

Will these shares actually be "locked up'? Can anyone clarify this for me?

As far as bringing in new investors, others have stated that there is nothing in this proposal that is preventing management from doing the same thing again and again after this split? What are new investors going to think about those 500M authorized shares just sitting out there? What are new investors going to think about how this whole situation is currently being handled? There are too many unanswered questions here!

It's great that some of you trust CB. You know him, you've spoken to him. Try to look at your investment from an outsider's perspective, though. We've had nothing from him except this highly-flawed RS proposal. The portrait you paint of a post split world is mildly comforting, but as with everything assumed over the past couple of years, what are the odds it will come to pass. That 'going into the black' has been just around the corner for some time.

Hawk, you've mentioned yourself that you prefer better terms. With all that has passed, or not passed for that matter, we must have better terms. There is no longer any trust here. You may have CB's ear on occasion, but no one else does. Things look pretty ugly from the outside.

Please someone who understands that paragraph above help me...!