American Energy Production Inc. Announces Receipt of First $500,000 of 10 Million Dollar 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 20, 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 that it has received the first payment of the 10 million dollar financial commitment from Yanzu Inc.'s previously announced private placement. The Company sold 4,545,454 of 144 restricted shares at .11 per share for gross proceeds of $500,000. This block of stock is subject to 144 restrictions for one year from the date of purchase and the shares do not have registration rights until the one-year holding period has expired. The conversion was done at a 120% premium to yesterday's closing price. The $500,000.00 funding will mainly be used to continue the re-work and 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. stimulation projects in the 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 and Marble Falls formation on leases owned by AMEP's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Bend Arch Petroleum Inc. Presently, Bend Arch Petroleum Inc. has four natural gas wells in various stages of completion. A portion of the funds will also be used to increase pumping activities with AMEP HOA-800 (a heavy oil treatment) on AMEP's wholly owned subsidiary Production Resources Inc. leases in South Texas Charles Bitters, President of American Energy Production Inc. stated, "This long term financial commitment, at a significant premium to our current stock price, shows tremendous confidence in our present and future drilling projects as well as management's ability to execute their business plan." About American Energy Production, Inc. American Energy Production, Inc. is an oil and gas lease acquisition company. The Company will specialize spe·cial·ize v. 1. To limit one's profession to a particular specialty or subject area for study, research, or treatment. 2. To adapt to a particular function or environment. in acquiring oil and gas leases that have potential for increased oil and natural gas production utilizing new technologies, well work-overs and fracture stimulation systems. American Energy Production, Inc. will acquire oil and gas leases that have proven reserves. The Company will initiate developmental drilling programs to drill new wells on these leases and, if successful, will add oil and gas reserves to the acquired property. American Energy Production, Inc. is involved in three areas of oil and gas operations: Leasing Programs, Production Acquisitions and Drilling with new technologies. American Energy Production, Inc.'s main objective is to find oil and gas leases with upside potential Upside potential The amount by which analysts or investors expect the price of a security may increase. upside potential The potential price or gain that may be expected in a security or in a security average, generally stated as the dollar for enhanced production. The Company does this by utilizing the following rules: 1) leases, 2) geology, 3) engineering and 4) mapping from 3-D seismic. 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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