American Energy Production Inc. Announces Agreement for $10 Million Capital Commitment from Private Placement.Energy Editors/Business Editors MINERAL WELLS Mineral Wells, city (1990 pop. 14,870), Palo Pinto and Parker counties, N Tex.; inc. 1882. Aluminum products, bottled mineral water, clothing, and pharmaceuticals are produced, and there is gas processing. , Texas--(BUSINESS WIRE)--April 14, 2004 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 Compass Capital Group, a New York-based private investment firm, has secured an additional financial commitment of up to $10 million with Yanzu Inc. The terms of the financing involve restricted shares to be purchased at a price between $.10 and $.18 per share depending on the current share price of American Energy Production Inc. This stock will be 144 shares with a one-year restriction and no registration rights. When Yanzu Inc. has purchased $1 million of the 144 restricted stock Yanzu Inc. will be granted a seat on the AMEP Board of Directors acquisition committee. Charles Bitters, President of American Energy Production Inc. stated, "The $10 million financing commitment will allow the continuation of AMEP's aggressive oil and gas income property acquisition campaign both domestically and abroad. The Company will also be able to increase its acreage holdings in the lucrative Barnett Shale The Barnett Shale is a geological formation of economic significance. It consists of sedimentary rocks of Mississippian age in the U.S. State of Texas. The formation is estimated to stretch from the city of Dallas to west of the city of Fort Worth and south, covering 5,000 square area of North Central Texas. AMEP is pleased Compass Capital Group has made a further commitment to play a key role as investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. and advisor on the future operations of American Energy Production Inc." Mr. Hugh O'Neill Hugh O'Neill can refer to one of several persons:
Oil in the ground is not a "reserve" unless it is claimed to be economically recoverable, since as the oil is extracted, the cost of recovery increases incrementally in the last 30 years and OPEC's announcement of quota reductions, we feel this is an exceptional investment opportunity. Coupled with the potential of American Energy Production Inc. oil and gas operations and with the increase in oil production from the use of AMEP HOA-800 heavy oil treatment, we are very comfortable making this long-term commitment." 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. |
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