ks7777, great call todays volume and price might point to something like what is being talked about at http://www.investingdd.com taking place.. Maybe this will be the start of the turnaround that sniper and other people were talking about on rb.
BTW, for those with the eyes to see (and even a modicum of kindness in the heart) it is evident that what some of the best posters here (Doc, Spin, Sniper, et al.) have been reporting all along is definitely IN THE WORKS.
Furthermore, as anyone who has been involved with business knows, it is impossible to know the exact timing for which deals will be struck and contracts signed.
This becomes even more of a guessing game as the deals become more complex and numbers involved larger. And when one of the deals involves a shipment of crude, as handstramp pointed out at DOC$ AIPN board ( http://ragingbull.lycos.com/mboard/boards.cgi?board=AIPN&read=47719 ), many others factors need to be considered.
I think this PR also signals the fact that George Faris (GF) is on the w out and Jim Knight (JK) will be at the helm from now on.
From this news, and if all goes well, the following could (should?) all take place:
2. Debbers eliminated (watch what happens to the pps at this point!).
3. A deal on 1551.
4. More drilling on 953.
Can you imagine what the price per share will be at (especially compared to the present pps) if drilling starts on 953 (which gave us a 533% increase last time, with nothing else happening), the refinery is running full out year round (with a contract with a major!), the debbers are gone (and can't hold the pps down, as now) and a good deal on 1551 has already been signed (hint: see http://ragingbull.lycos.com/mboard/boards.cgi?board=AIPN&read=31450 ).
With that said, here is the news (below, with emphases added) for anyone who missed it.
If you can read between the lines (or pick up on the emphases) you still have time to make yourself a bundle of money on this stock.
The big hits are coming, it is only a matter of time now!!!
GOOD TIMES COMING FOR AIPN!
FWIW & IMO
P.S. Almost forgot, but it is very nice to see that AIPN has responded directly to shareholder requests for an update (again see DOC$ AIPN board for more information).
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(COMTEX) B: American International Petroleum Places $1.9 Million Convent B: American International Petroleum Places $1.9 Million Conventional Debt
NEW YORK, Jun 20, 2002 (BUSINESS WIRE) -- American International Petroleum Corporation (OTC BB: AIPN)), announced today that it has sold a nine-month $1.9 million 12% secured Bridge Note to GCA Strategic Investment Fund Limited ("GCA"), Hamilton, Bermuda.
The proceeds from the financing will be utilized for working capital purposes. This will also allow the Company more time to work towards the completion of ongoing negotiations to put its entire Lake Charles facility to work on a long term basis, and to consummate a refinancing to replace its existing debt.
"We continue our efforts to complete a long-term transaction for our Lake Charles facility, which includes both processing crude oil and manufacturing asphalt," said Company President Jim Knight. "We have seen in the past that the best way to maximize the profits of our Refining Division is to operate all the units simultaneously. We are making progress towards achieving this goal and, although we can't be certain at this point, we hope to complete a deal soon transaction should provide the necessary cash flow and margins to enhance our ability refinance our debt. That is the next step.". He also said that the Company has informed its principal lenders that it intends to attempt to redeem its existing debt as soon as practicable and that the lenders were receptive to such a plan.
The Company continues to have discussions with potential partners regarding a farm-out of some of our 100% working interest in License 1551, the Shagyrly gas field in Kazakhstan. Any proceeds that may be derived from the possible sale or farm-out of a portion of our oil and gas concessions in Kazakhstan will be utilized to repay debt, fund the development of our License 1551 gas field and the minimum work program at our License 953, and for general corporate uses. The majority of the development funding for License 1551 is expected to be derived form project financing.
American International Petroleum Corporation is a diversified petroleum company which, through various wholly owned subsidiaries, is involved in oil and gas exploration and development in the Republic of Kazakhstan, and in processing crude oil, and in marketing and transporting a wide array of refined products in the United States.
Statements herein may be identified as forward-looking for purposes of safe harbor provisions under Section 21E of the Securities and Exchange Commission Act of 1934. Such statements relating to the Company's business, including those specific to this press release, including efforts to complete a long term contract for Lake Charles; ability that such a deal will enable satisfactory cash flow and margins to allow refinancing, or enable all units to operate simultaneously; ability to redeem existing debt; or, consummate a farm-out agreement for Kazakhstan Licenses; and all future business of the Company, are subject to risks and uncertainties that could cause actual results to differ materially from those statements and other risks and factors, identified in the Company's SEC filings.
CONTACT: American International Petroleum Corporation Michael Dodge, 212/688-3333
URL: http://www.businesswire.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page.
Copyright (C) 2002 Business Wire. All rights reserved.
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KEYWORD: NEW YORK INDUSTRY KEYWORD: ENERGY OIL/GAS UTILITIES SOURCE: American International Petroleum Corporation
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