Replies to post #7136 on American Petro-Hunter, Inc. (fka AAPH)

[sambol]

I believe VLF said expect Q3 within two weeks but I can't say for sure.

[TOB]

No, that's not possible.

well not true. They can sell their Oklahoma acres and rights for drilling in Kansas. - OPT

AAPH can't drill in Kansas as they already sold their Poston Project lease. Yet AAPH still lists this as an asset on their Projects Tab

During the year ended December 31, 2012, the Company sold its interest in the Poston Prospect for cash in the amount of $69,500, - Link to quote from AAPH 10-Q

These leases aren't worth much in any-case. Nobody wants them, which is why AAPH was previously able to acquire them. I say "previously" because AAPH can't even buy a pick-up truck at this point.

Hanover holdings is their main financier, so whether at 60% discount from current SP, still doesn't put money in their pocket long term.-OPT

The most AAPH can raise from Hanover is about $30,000 due to the 4.99% affiliate restriction that is clearly written in the terms.

$30,000, or even several multiples of that won't pay for a single well. It will only pay for about 1 single week of AAPH's current operating loss.

The restriction is summarized in the link provided below. All facts from the AAPH 10-Q

The $5 million Hanover Holdings financing can't work.

Unfortunately AAPH is out of cash and has no practical way to raise more money.

I've seen way way worse dilution going on in oil and gas stocks than what is happening here -OPT

There are worse companies is about the best thing that can be said about AAPH. Unfortunately, the dilution is on the increase, not decrease. And this new Death Spiral Financing announced in the latest 10-Q assures us that we have only seen the beginning of the AAPH dilution.

The drilling card is what matters now, and how they plan to proceed -OPT

Yes, I agree. That is why the fact that AAPH can't possibly drill even the single well they have planned for $800,000 makes the future bleak for AAPH. AAPH can't even cover its operating loss, and certainly can't cover drilling a new well.

It is all in the latest 10-Q, and the next one will have even more bad news barring a miracle.

You are correct that none of this Toxic Financing and dilution will put money in AAPH's pocket long term. The operating loss far exceeds what AAPH can raise, and everything raised to date is already gone, with AAPH having only $148 left.

AAPH could buy a drill at Home Depot for $148, but they can't drill any new oil wells or workover any old ones for that.

[MarketCap]

OPT all good points. The Q will be out by the 15th. AAPH