American Energy Production Inc. Announces 20% Increase in 3rd Quarter Production Revenues for Two Investees.MINERAL WELLS, Texas Mineral Wells is a city in Palo Pinto County, Texas and a portion of Parker County, Texas. The population was 16,946 at the 2000 census. The city is named for mineral springs in the area, which were highly popular in the early 1900s. -- American Energy Production Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : AMEP AMEP Adult Migrant English Program AMEP African Middle East Petroleum Co. AMEP Asymptotic Multi-User Error Probability AMEP Association for Medical Education in Pakistan AMEP Automated Missile Engagement Planner ) announced today 3rd quarter production revenues for it's two wholly owned investees, Production Resources Inc. and Bend Arch Petroleum Inc. American Energy Production Inc. investee, Production Resources Inc., sold approximately 2761 barrels of oil in the third quarter for total net oil revenue of $97,617.00. Bend Arch Petroleum Inc. sold 2782 barrels of oil and 26,431 MCF of natural gas for approximate total gross revenue of $436,281. Total approximate gross revenues for Bend Arch Petroleum Inc. and Production Resources Inc. totaled $533,898. Charles Bitters, President of American Energy Production Inc. stated, "Oil and Gas revenues in the 3rd quarter increased approximately 20% from the 2nd quarter even though Bend Arch Petroleum Inc has not been able to fracture fracture, breaking of a bone. A simple fracture is one in which there is no contact of the broken bone with the outer air, i.e., the overlying tissues are intact. In a comminuted fracture the bone is splintered. stimulate several oil and gas wells due to a lack of water caused by the severe drought in the north Texas area. In fracture stimulating a well the amount of slick See SLC. water required is over 5,000 barrels per well." Mr. Bitters also stated, "After a few delays with mechanics and part order delays, we are pleased to announce that all drilling rig and mud pump engines started and ran without any major problems or repairs. The derrick derrick: see crane. Derrick famous hangman; eponym of modern hoisting apparatus. [Br. Hist.: Espy, 170] See : Execution should be raised in the next few days and then the drilling rig will be moved to a location on a Bend Arch Petroleum lease to drill a 3100 foot natural gas well and test out the rig." Statements contained in this release, which are not historical facts, may be considered "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " 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. |
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