3SOF

Already reached 100 millin in volume has broken the barriers

0.03 barrier broken on 129 million volume

52% increase in price today

Now that we broke thru 0.250 with volume anyone think original exit point of 0.04
is still possible?

David,

Like to see you get back in AMEP.

You deserve it.   

The timing of the AMEP news and recent events may make AMEP one of your finest selections.  Just beginning, IMO.

Hi,

We can never be sure with the pennies.

But many people were waiting for confirmation of the breakout.
Now it will show up on many filters.

With the Gulf catastrophe, and AMEP getting a rig, it has the combination of:

- Breakout
- Record Volume
- News
- Hot Sector
- Hype
- Long term Chart Sets Some Targets

It will move much higher on the momentum of the combination above.

Never straight up as profit takers will exit along the way.

Just an opinion.   

David Randolph, you are the direct reason I signed up with "3-Stocks on Fire". I get around the net on AMEP, because I hold a lot of the stock, and want to keep current with both the fundamentals AND the technicals.
You sir, off all the numerous posts from a wide variety of message boards, did the most outstanding job with the techniocals. Thank You. I just watched and picked up on a few things from your reads, I even understood, from a technical standpoint, why you sold when it barely broke support. I wish it had held a little more above the 200 MA for technical traders sake, ...but at least it  did turn in that area.
That said, I want to add my voice to the many here that would like to see you follow up your great calls, and foresight on the potential of AMEP.
David, it is still a 3 cent stock. ......AMEP's assets far outweigh the current tiny MC and SP.
You were right, ....get back in, we selfishly need your technicals on AMEP.
GLTY David Randolph ...It's 'Still Early' with AMEP's SP,  ...the news today was a dynamic shift in the potential with the acquisityion of the Big Rig. AMEP will have legs, IMVHO.
...   %^  greeneyedhawk
BTW, how do you post a chart here? Like iHub? TIA.

Just added at .0266.



Confident in the new support level.
Willing to wait and see what the new Rig can do for them.

I have add more at 0,027!

It is very reassuring to see on AMEP daily chart, a nice "double bottom" pattern around 0,0245.
Lets hope we will see more of this  nice  bullish  setup!

American Energy Production Inc., Mineral Wells
     Charles Bitters, 210-410-8158
     www.americanenergyproduction.com
     Or
     Oil America Group Corp.
     Joe Christopher, 972-386-0601
     [email protected]
================================

Called and they value the real estate at over 7 Million alone.
Do the math on the cap.  Worth much more than 3 cents.

They expect 2 Million plus in Revenue this year.

They are getting 160 acres for oil and gas.
Private investors are financing the deal (not stock sale),

Nice part is that they do not Drill offshore.
Hurricanes are not a threat. 

Will hold to watch this progress.

I am a RB  poster. Just found out about this place and signed up immediately as i saw some familiar names.

Entry price: $0.031 (185K shares) and not worried!!

I thought friday would open differenly but it did not. But as i said I am not worried. This company has all the right ingrediants for a huge run.

$0.12 is where I am unloading half!

AMEP MM,

Gave you the first applaud for the Conan O'Brien attachment. 
Hilarious.   

Oil is global.  So Fridays events of releasing the reserves, European aid, and pipelines coming back hurt AMEP.

Think about how much more oil will be worth that we had to tap reserves.

AMEP chart is extremely bullish.  The close was nice.

Ramsburg and David,  any thoughts ?

Quote from: fill_the_gap on September 03, 2005, 11:15:46 AM
AMEP MM,

Gave you the first applaud for the Conan O'Brien attachment. 
Hilarious.   

Oil is global.  So Fridays events of releasing the reserves, European aid, and pipelines coming back hurt AMEP.

HAHAHA...Thanks!

As I said I have nothing to worry about! I am pretty happy with my entry price. In a couple of weeks 3 cents would look so cheap you wish you had picked up more. AMEP is real and it is underpriced considering its assets and its future potential. Right now I am contemplating whether I should pick up more and put everything in one basket or not!

Read this if you have not read it already! Barnett is one hot spot for oil giants!! There is a very good chance you see Shell in our area soon. JMHO!
________________________________________________________________
By Christopher Edmonds
RealMoney.com Contributor
8/29/2005 8:13 AM EDT

Altough a number of companies are fighting for the title of King of the Barnett Shale, chatter suggests there may be a new Chief coming to the region.

One of the trendy North American natural gas plays, the Fort Worth Basin in North Texas (also known as the Barnett Shale), is sizzling with drilling activity as large independents like XTO Energy (XTO:NYSE - news - research - Cramer's Take), Devon Energy (DVN:NYSE - news - research - Cramer's Take), EOG Resources (EOG:NYSE - news - research - Cramer's Take) and Chesapeake Energy (CHK:NYSE - news - research - Cramer's Take) work with new horizontal drilling and fracturing techniques to find gas in tight rock formations.

Now, one of the majors appears to have an interest. At a recent gathering of industry executives in Houston, murmurs resurfaced that Royal Dutch Shell (RD:NYSE ADR - news - research - Cramer's Take) is looking for opportunities in the Barnett. Shell's reserve challenges and quest for additional natural gas assets makes the Barnett an intriguing candidate: an easy-to-understand play, relatively easy drilling and a good group of peers from which to learn the intricacies of the play.

The attractiveness of the Barnett lies in the prolific nature of the wells and their attractive economics. To date, there is about 1.2 billion cubic feet per day produced from more than 3,800 wells, or about 300 thousand cubic feet per day per well. Wells are drilled between 4,000 and 11,000 feet at a cost between $400,000 and $2.6 million per well. Both vertical and newer horizontal drilling is taking place in the region.

Chief Candidate
Although there are a number of ways Shell might enter the Barnett, one option would be through the purchase of a company focused on the Barnett Shale. One option would be privately held Chief Oil & Gas, a Dallas-based company with more than 200,000 acres in the Barnett Shale.

While sources close to Shell's decision-making process indicate that no decision has been made, there are projections that Chief could command a price of nearly $1.2 billion, or roughly $6,000 per acre. In addition to acreage, Chief has production north of 100 million cubic feet of natural gas per day and, according to its press releases, has six rigs under contract and more than 100 wells currently producing in the region.

________________________________________________________________

AMEP IS DIRT CHEAP RIGHT NOW!!!

AMEP DD #1 ...
NOTES, highlights, & comments from the full 10Q recently released on Aug 15th.
I am reposting my notes, with new comments, for anyone who has not studied the lengthy full 10Qsb. It was a good 10Q when read in it's entirety. Bashers are saying that AMEP is in deep debt, ...not so; the opposite in fact, read for yourselves the true facts filed with the SEC.
Refer to the 10QSB and/or the AMEP CEO Charles Bitters for any further details and/or explanations:

Outstanding shares as of end of reporting Q: 302,030, 234
Last reporting Q was 298,030,234
An increase of 4 M shares.

Note: See 10Q re company converting to a BDC(Business Development Company) when evaluating the following sections, AMEP as a BDC has four wholly owned investees:

AMEP expenses:
($114,822) total loss from operations
($91,761) total loss other expenses (interest expense)
Total Net Loss AMEP ($206,583) ... year ago ($702,071)

Net cashed used in operating activities: ($201,663) ...
year ago ($261,143)

Net cash used in investing activities:
($136,556) ... Year ago ($1,044,115)

Cost and fair value of AMEP investees: $2,733,342
Refer to 10Q; the 'fair value'* is based on the cost of the investee to AMEP (much is the original 'historical' cost)...
Production Resources Inc. (PRI) ... $1,284,598 (historical cost)
Oil America Group Inc. (OAGI) ...... $117,000( bought with 'restricted 144' shares)
Bend Arch Petroleum Inc. (BAPI).....$1,256,188
AMEP strategic Investments INC. .... $75,556
Total AMEP Investments in the investees: ...$2,733,342 (The four investees are wholly owned by AMEP).
*BDC's are valued based on the collective value of their wholly owned(in AMEP's case) investees. Consider the potential 'fair value' adjustment by an independent O&NG engineer, when AMEP can show a profit from just a few wells, of the potential of many on the 7,000 acres over the Barnett, plus the 193 PRI wells being brought back onto production with increases using HOA-800.
Do you think an Oil and NG company with 7,000 acres in the Barnett(BAPI) + 193 (PRI) oil wells being re-worked and put back into production + the current near 2 Million in annual O&NG revenues (does not count the est $570,000 annual revenues from the vertical NASH 1-c well recently completed)is fair valued at $2,733,342? Add in owned and paid for 'Crane Carrier Portable Rig' + NG compressors + Oil storage tanks + surface and downhole pumps + miles of owned sales natural gas lines, and now a money making big 8,000 ft capacity Ideco Rig ...$2,733,342 is fair value?? A potentially big Upside advantage, IMHO.
Calculate how many O&NG wells that AMEP can drill on 7,000 acres of 100% blanket coverage of the huge and prolific Barnett Shale formation, with a well spacing of 40 acres, 80, or even 160, (80 IMVHO).....that is a lot of wells that will produce gas, and Oil in AMEP's case. The Barnett is the hottest formation in the US on shore, ...there is a reason. And with 1st Sept's great news on the new Ideco Big Rig bought by AMEP, the 7,000 acres can be exploited for production right away.

Debt as of end of Q was ($18,153)lease payable (bashers say AMEP is deep in debt, that is simply not true).
Bank notes payable ($17,464) [dated Mar 2001, for the previous shell company's computer equipment]
Bank loan for auto ($4,818) [final payment due Feb 2006]
Total convertible Debentures due Dec 1, 2005 ($335,665)

Total Debt is $367,102 counting CD:
($400,000) CD (before debt discount of $64,335)
($22,284) total bank loans (auto + previous shell Co note)
($18,153) lease payable
Total: ($367,102), ....ie ($440,435) less $64,335 debt discount

10Q note concerning the BDC(Business Development Company), when AMEP becomes profitable(less than a year to profitability per the CEO note on the web site), ...per the 10Q:
"98% of AMEP income will be distributed on a quarterly basis to AMEP stockholders (both income and net capital gains)".

Most of the 10Q is old news, as the knowing posters have noted on the RB thread. Considering the quarterly report in it's entirety, it was a very good report. IMHO, the next two Qs will show a turn around based on O&NG revenues with the additional new Bend Arch and PRI wells increasing the production; starting with the successful NASH 1-c, which was just completed and did not contribute to the revenues lastQ, followed by two horizontal wells with 100% NWI(Net Working Interest) by wholly owned Bend Arch, ...and that followed by three horizontal wells by wholly owned OAG. Total of 5 horizontals are scheduled for drilling with AMEP's newly acquired Ideco 8,000 ft capacity Big Rig. Then add in the wells PRI will treat with HOA-800 and bring on line this Q from the 193 well project.
The most important activity for AMEP and it's shareholders will be the results of the next two cheap-to-drill re-entries on good heavy 5 1/2" casing that will turn horizontal when it reaches the Barnett formation. Drilling to be done on time with AMEP's owning a rig, and not have to wait on contractors in extremely high demand. These two wells will be deepened into the Barnett, and will likely be high volume horizontal wells of considerable frac length in the pay zone. The 'test' Nash 1-C well drilled vertically into the Barnett formation was a big success, when considering the following two 100% NWI horizontal wells will be much, much higher producers, per the independent DD on the big volume advantage of horizontal over vertical drilled wells.

From the Nash announcement (vertical well) on Aug 2nd:
"At today's market price of $60.00/barrel for oil and $8.00/mcf of natural gas this would be approximately $1600.00/day or $48,000.00/month or $570,000.00/year gross revenue."
(Now Oil is higher than $60.00, and NG increased from $8.00 to +$11.00 since the above announcement, this vertical well will approach grossing nearly a million a year if there are any further increases in energy prices)

It is very likely IMHO, that these next two potentially higher producing horizontal wells that AMEP will be drilling, plus the Nash, will put AMEP over the top, ...and profitable. It is important to note that AMEP has 100% of the NWI (net working interest) on these next two horizontals going into the prolific Barnett formation. It is also extremely important to note, that AMEP is getting quantities of Oil with the NG; most Barnett wells are NG producers only per the extensive DD on Barnett wells. AMEP is very, very fortunate to have this type of highly desirable Barnett acreage (7,000 acres) that produces high grade Oil with the Natural Gas.

GL all AMEP longs, the next two horizontal wells to be drilled next with the newly acquired big Ideco Rig will be of high interest, and make the patience, ,,,and SP pay off big IMVHO.
Technically, this looks bullish for multiple gains, see technicals on AMEP iHub board, as the way is clear for moves much higher, IMVHO and the technical read. Look at the 3 Yr chart, the SP is coming off a saucer bottom earlier this year, the SP is still historically low. Fundamentally AMEP's cold hard assets and Oil and NG revenues, FAR outweighs the tiny Market Cap, and certainly the $2.7M 'Fair Value' assigned by the 10Q (that will change drastically UP, when the CEO decides to have an independent Oil and NG engineering firm come in and re-evaluate the current and true values of all four of AMEP's investees, ...big upside 'surprise' potential on that news making event).
Thursday's news on AMEP's purchase of a big 8,000' capacity Ideco Rig could not be more bullish for AMEP, and the 7,000 acres in the highly prolific Barnett to be developed independently ...and in these times of energy shortages. Don't forget about the wholly owned PRI 193 oil wells and pumps project, that is just getting underway, huge upside potential there, where AMEP's PRI will use AMEP's owned and paid for 'Crane Carrier Portable Rig' to re-work and start bring into production from the PRI 193 wells lease.
Going UP, ...MC & SP cheap, it's still early.
GL all AMEP longs
... %^ greeneyedhawk

AMEP DD #2:
Financial News & Assets: With a total net income of (207)K, AMEP profitability is within sight on such a small loss, IMVHO (see Aug 31st "financials" news).
The next two scheduled horizontal wells by wholly owned Bend Arch should do the trick, along with additional Oil wells brought into production by the wholly owned 193 PRI well project.
I will be accumulating at these low SPs until then. SP is WAY undervalued IMO, resulting in the current and tiny $8 Million total Market Cap. AMEP's cold hard Assets and Oil & NG revenues cannot be bought for less than a 'significant multiple' of the $8 Million Market Cap.
That is an undisputeable fact, ...add it up below.

Assets in a nut shell:

1) Wholly owned Bend Arch's 7,000 acres over a 100% blanket formation of the prolific Barnett, largest NG reserves in the US, on shore. (Good Barnett leases are going for about $2,000 per acre, from DrillBit's conversation with the CEO; to $6,000 that King Oil is asking from Shell per acre - see posted article.) Conservatively AMEP's wholly owned Bend Arch's 7,000 acres of Barnett Shale Formation leases are worth $14,000,000.

2) Wholly owned PRI's 193 wells and 193 working pumps project, just getting underway. (PRI recently announced as much as a 300% improvement after treating a few of it's 193 wells with HOA-800, and will now expand the operation to the entire field.)

3) Miles of owned NG sales and collection gas pipelines.

4) Crane Carrier Portable Rig, to re-work and treat the PRI 193
well project.

5) Numerous Oil storage tanks.

6) Numerous above ground and downhole Oil pumps.

7) Numerous NG compressors.

Steel casing inventory.

9) Oil Revenues, and ramping up for this Q and next Q.

10) Natural Gas (NG) Revenues, and ramping up for this Q and next Q.

11) Big 8,000' Capacity IDECO Rig. AMEP owns and operates a Big Rig capable of 8,000 ft, far deeper than the +4,000'- +5,000' foot deep Barnett, and can reach far below AMEP's deepest pay zones, numbering a total of 11, which the Barnett is the deepest, thus more than meets AMEP needs. Also a big cash generator, ...as needed; "Rigs with a drilling capacity of 8,000 feet are currently netting $10,000.00 per day"(see Sept 1st news). Sept 1st Big IDEC Rig NEWS is a 'game changing dynamics' move for AMEP, allowing it to commence drilling the Barnett with high volume horizontal wells right away, while the Portable Crane Carrier Rig re-works the PRI 193 well project. Think about that.

You cannot but these assets for less than a serious 'multiple' of the current $8 Million Market Cap; that is a fact. AMEP SP component of the Market Cap is seriously undervalued, IMVHO.
GL all AMEP longs
... %^ greeneyedhawk
.