اخبار الربع الرابع
American Energy Production Inc. (OTCBB:AMEP - News) announced today
4th quarter and year-end 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 2077 barrels of oil in the 4th quarter for total
net oil revenue of $64,810.
Bend Arch Petroleum Inc. sold 5131 barrels of oil and 32,589 MCF of
natural gas in the 4th quarter for approximate total gross revenue
of $455,743. Total approximate gross revenues for Bend Arch
Petroleum Inc. and Production Resources Inc. totaled $520,553.
American Energy Production Inc. reported Oil and Gas revenues year
to date for the two investees of approximately $1,442,453. AMEP is
very pleased with the production revenues of our investees. In one
year the investees have increased production revenues from $6600 to
$1,442,453. This equates to a 21,500% increase over production
revenues in 2003. The Company anticipates further production
increases in the first quarter of 2005 because of the acquisition of
Oil America Group Inc. (
www.oilamericagroup.com) and increased
production from new and existing oil and gas wells.
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