American Energy Production Inc. Announces Operations Update of Wholly Owned Subsidiary Production Resources Inc.
Thursday December 27, 2:30 pm ET
MINERAL WELLS, TX--(MARKET WIRE)--Dec 27, 2007 -- American Energy Production Inc. (OTC BB:AENP.OB - News) announced today its wholly owned subsidiary Production Resources Inc., (PRI) operations update.
Production Resources Inc. will have gross oil sales of approximately $426,000 at the end of 2007 as compared to $384,000 in 2006. Several factors contributed to this increase in oil sales. Number one is an approximate 10% increase in daily oil production. Number two is obviously the increase in the world price of crude oil. Number three is some new chemical treatments combined with new oil recovery methods that PRI is experimenting with.
Charles Bitters, President of American Energy Production Inc., stated, "We are very pleased Production Resource Inc. is aggressively seeking new ways to make the oil flow faster out of the Olmos Sand formation that covers the 1700 acres PRI has under lease in Medina County, Texas. Management has always maintained that if the Company can determine how to change the viscosity of the heavy oil there are millions of barrels of oil to be produced in the field. Joe Christopher, President of Oil America Group, another wholly owned subsidiary of American Energy Production Inc., and Earl Walker, President of Production Resources Inc., are working on a down hole formation heater that will heat the Olmos formation and change the viscosity of the 22 gravity oil. The new formation heater should be installed in the next few weeks."
Mr. Walker stated, "When American Energy Production Inc. acquired PRI we were selling our oil for $24.00/barrel and now we are selling oil for $75.00 to $84.00 a barrel. The price increase has allowed the Company to institute a plan to remove the old hollow rod pumping technology that many of the oil wells have in the field to produce the oil and begin installing 2 3/8" tubing and sucker rods that will not require as much maintenance on the oil wells and will be more efficient. PRI is reworking ten wells at a time depending on the availability of tubing and sucker rods. The Company believes this oil well reworking and experimenting with several enhanced oil recovery methods should enable PRI to greatly increase oil production in 2008."
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" and are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties, as well as other uncontrollable or unknown factors could cause actual results to materially differ from the result, performance, or expectations expressed or implied by such forward-looking statements.
     Charles Bitters
     Oil America Group Inc.
     Joe Christopher

The following information was filed by American Energy Production Inc on Wednesday, January 2, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate American Energy Production Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by American Energy Production Inc.


Never Miss A New SEC Filing Again

Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.


We Highlighted This SEC Filing For You

SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.


Widen Your SEC Filing Reading Experience

Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view


Uncover Actionable Information Inside SEC Filings

SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q


Adobe PDF, Microsoft Word and Excel Downloads

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis


FREE Financial Statements

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator

Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019) Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not


Financial Stability Report

Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019) Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity


Get a Better Picture of a Company's Performance

Financial Ratios
Available Financial Ratios Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years


Log in with your credentials


Forgot your details?

Create Account