Replies to post #38742 on American Energy Production Inc(fka AENP)

[Slippery Wing]

IMO, he doesn't want anyone to know what he has until he absolutely has to, his words to me in 2005.

Are you kidding? "What he has" is public knowledge. Any landman can walk into the county courthouse and find out exactly "what he has".

And it doesn't take a genius to figure out the statistical production, not only of the wells in the lease, but the wells in the leases around him. From that, you can get a rough estimation of the reserves based on the historic decline in production. Factor in recent drills in the leases around AENP and you have a good idea of what Charles Bitters is sitting on.

Come on folks, oil is still at $100/bbl. I guarantee you his production costs aren't more than $40/bbl, so he's making a net of $60/bbl.

As for the "no debt" theory that some are throwing around?

So AENP owes over 2 million to JB, but since JB's assets are held by AENP, you don't consider this debt? Seriously?

That's like Microsoft buying a local private software company and saying, we're not going to pay you up front, but we'll pay you 8% interest on the 2 million we agreed to for a period determined by us... And if we don't we'll just defer the "pay in full" date to our satisfaction. In essence rolling over our debt.

All this means is that AENP STILL HASN'T paid for the acquisition of JB's assets, but since no money has changed hands yet, we won't call it debt...

If that's how you really think, boy do I have a deal for you!

Come on guys, I'd love to see this work out. I really do. I've got paper losses totaling $14,379 and the stock that I have is worth just under $3,000.

It shouldn't take a whole lot of background in oil and gas to tell you that if this guy can't make money with $100 oil and $9 gas, he needs to be run out of town.

Just my opinion, and I don't mean it personally, but those that are still defending this stock, and as such still recommend buying it, are very short sighted.

I really hope this works out for us all. It's too bad that all I have left for this stock is "hope". Expensive lesson learned for me.

-Slip