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American Energy Production Announces Marble Falls Unit Begins Production
Tuesday , September 16, 2003 10:48 ET
MINERAL WELLS, Texas, Sep 16, 2003 (PRIMEZONE via COMTEX) -- American Energy Production (OTCBB:AMEP) announced that oil production from Well No. 70 on its Marble Falls Unit, located in Comanche and Eastland counties, Texas, began today. This is the first oil and gas well on the Unit to be turned on for production. After initial oil production is established, AMEP will use the new oil additive which the Company is currently testing in South Texas on its heavy oil operation for possible use on paraffin that is produced in the Marble Falls formation.
The Marble Falls Unit consists of 3,000 acres with multiple producing formations that have a long history of oil and gas production. Management is formulating a plan to fracture stimulate the Barnett Shale formation that is a blanket formation located on the property.
American Energy Production Inc. will announce, in a few days, the results of the testing on the heavy oil additive on the South Texas oil leases.
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" 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 exposed or unknown factors could cause actual results to materially differ from the result, performance, or expectations exposed or implied by such forward-looking statements.
SOURCE: American Energy Production Inc.
Tuesday , September 16, 2003 10:48 ET
MINERAL WELLS, Texas, Sep 16, 2003 (PRIMEZONE via COMTEX) -- American Energy Production (OTCBB:AMEP) announced that oil production from Well No. 70 on its Marble Falls Unit, located in Comanche and Eastland counties, Texas, began today. This is the first oil and gas well on the Unit to be turned on for production. After initial oil production is established, AMEP will use the new oil additive which the Company is currently testing in South Texas on its heavy oil operation for possible use on paraffin that is produced in the Marble Falls formation.
The Marble Falls Unit consists of 3,000 acres with multiple producing formations that have a long history of oil and gas production. Management is formulating a plan to fracture stimulate the Barnett Shale formation that is a blanket formation located on the property.
American Energy Production Inc. will announce, in a few days, the results of the testing on the heavy oil additive on the South Texas oil leases.
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" 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 exposed or unknown factors could cause actual results to materially differ from the result, performance, or expectations exposed or implied by such forward-looking statements.
SOURCE: American Energy Production Inc.
American Energy Production Inc. Announces Dramatic Results From First Test Of Heavy Oil Additive
Tuesday , September 23, 2003 16:15 ET
MINERAL WELLS, Texas, Sep 23, 2003 (PRIMEZONE via COMTEX) -- American Energy Production Inc. (OTCBB:AMEP) announced today the results from the treating and testing of two heavy oil Olmas formation wells on lease properties American Energy Production Inc. is negotiating to purchase. The two oil wells have a history of producing one half to one barrel of oil per day for the last ten years. After treatment with the heavy oil additive, the two oil wells have dramatically increased oil production, one well making over ten (10) barrels of oil per day and the second well making over twelve (12) barrels of oil per day. This is a 2000% increase from the past production history of the two oil wells. AMEP realizes the wells may not sustain this increased production rate, but any production over 1 barrel per day is a vast improvement. Not only did the wells increase in oil production, the oil additive changed the physical structure of the oil, changing the gravity of the oil from 20 gravity to approximately 35 gravity. The oil usually contains 1.7% sulfur content and now the smell of sulfur is barely noticeable. Changing the gravity and removing the sulfur from the oil is extremely important price wise for the sale of this particular oil. This Olmas formation oil usually brings $2.00 to $3.00 per barrel less than West Texas sweet crude oil. The oil additive will possibly change the oil from South Texas sour crude to sweet crude. AMEP is sending samples of the treated oil to be tested for viscosity and content of sulfur to lab testing facilities in Alice, Texas. The Company will release the results of the test in the future.
American Energy Production Inc. will proceed with treatment and testing of four more oil wells immediately with the new heavy oil additive. This lease has 193 oil wells equipped and capable of producing oil. The potential proven produceable oil reserves on the lease is 62,000,000 barrels, and the Company believes only about 2% to 4% of these oil reserves have been produced over the last 20 years. AMEP plans to eventually treat all 193 of the oil wells and then have an ongoing treatment program.
American Energy Production Inc. is in the process of buying pump trucks and transports to treat the oil wells. This will make the Company self sufficient instead of relying on outside pumping services.
Charles Bitters, President of AMEP, said "This new heavy oil additive is very interesting and at this time has the potential to radically change the way secondary recovery of heavy oil is done in the future. However, it will take more treating and testing to refine the most efficient treatment methods."
About American Energy Production, Inc.
American Energy Production, Inc. is an oil and gas lease acquisition company. The Company will specialize 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 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" 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 exposed or implied by such forward-looking statements.
SOURCE: American Energy Production Inc.
By Staff
CONTACT: American Energy Production Inc.
I/R Plus
John DeLisa
(866) 910-2323
(C) 2003 PRIMEZONE, All rights reserved.
-0-
INDUSTRY KEYWORD: Oil Exploration & Production
SUBJECT CODE: OIL
GAS
Company Announcement
Public Companies Associated with this story:
AMERICAN ENERGY PRODUCTION, INC. (OTCBB: AMEP)
Knobias Subject Codes Associated with this story:
Important Co. News
Content provided by Comtex Copyright © 2003
Content transmitted by Knobias.com Copyright © 2003
ABOUT | PARTNERS | ADVERTISING INFO | CONTACT US | COPYRIGHT | PRIVACY | LEGAL | DISCLAIMER
Copyright © 2003 Knobias.Com, LLC. All rights reserved.
Data and information is provided for informational purposes only, and is not intended for trading purposes. Neither Knobias.Com, LLC, nor any of its data or content providers shall be liable for any errors or delays in the content, or for any actions taken in reliance thereon. By accessing the Knobias.Com website(s), a user agrees not to redistribute the information found therein. Knobias.Com, LLC is not a registered broker-dealer and does not endorse or recommend any securities listed herein or any services of any brokerage company.
Tuesday , September 23, 2003 16:15 ET
MINERAL WELLS, Texas, Sep 23, 2003 (PRIMEZONE via COMTEX) -- American Energy Production Inc. (OTCBB:AMEP) announced today the results from the treating and testing of two heavy oil Olmas formation wells on lease properties American Energy Production Inc. is negotiating to purchase. The two oil wells have a history of producing one half to one barrel of oil per day for the last ten years. After treatment with the heavy oil additive, the two oil wells have dramatically increased oil production, one well making over ten (10) barrels of oil per day and the second well making over twelve (12) barrels of oil per day. This is a 2000% increase from the past production history of the two oil wells. AMEP realizes the wells may not sustain this increased production rate, but any production over 1 barrel per day is a vast improvement. Not only did the wells increase in oil production, the oil additive changed the physical structure of the oil, changing the gravity of the oil from 20 gravity to approximately 35 gravity. The oil usually contains 1.7% sulfur content and now the smell of sulfur is barely noticeable. Changing the gravity and removing the sulfur from the oil is extremely important price wise for the sale of this particular oil. This Olmas formation oil usually brings $2.00 to $3.00 per barrel less than West Texas sweet crude oil. The oil additive will possibly change the oil from South Texas sour crude to sweet crude. AMEP is sending samples of the treated oil to be tested for viscosity and content of sulfur to lab testing facilities in Alice, Texas. The Company will release the results of the test in the future.
American Energy Production Inc. will proceed with treatment and testing of four more oil wells immediately with the new heavy oil additive. This lease has 193 oil wells equipped and capable of producing oil. The potential proven produceable oil reserves on the lease is 62,000,000 barrels, and the Company believes only about 2% to 4% of these oil reserves have been produced over the last 20 years. AMEP plans to eventually treat all 193 of the oil wells and then have an ongoing treatment program.
American Energy Production Inc. is in the process of buying pump trucks and transports to treat the oil wells. This will make the Company self sufficient instead of relying on outside pumping services.
Charles Bitters, President of AMEP, said "This new heavy oil additive is very interesting and at this time has the potential to radically change the way secondary recovery of heavy oil is done in the future. However, it will take more treating and testing to refine the most efficient treatment methods."
About American Energy Production, Inc.
American Energy Production, Inc. is an oil and gas lease acquisition company. The Company will specialize 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 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" 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 exposed or implied by such forward-looking statements.
SOURCE: American Energy Production Inc.
By Staff
CONTACT: American Energy Production Inc.
I/R Plus
John DeLisa
(866) 910-2323
(C) 2003 PRIMEZONE, All rights reserved.
-0-
INDUSTRY KEYWORD: Oil Exploration & Production
SUBJECT CODE: OIL
GAS
Company Announcement
Public Companies Associated with this story:
AMERICAN ENERGY PRODUCTION, INC. (OTCBB: AMEP)
Knobias Subject Codes Associated with this story:
Important Co. News
Content provided by Comtex Copyright © 2003
Content transmitted by Knobias.com Copyright © 2003
ABOUT | PARTNERS | ADVERTISING INFO | CONTACT US | COPYRIGHT | PRIVACY | LEGAL | DISCLAIMER
Copyright © 2003 Knobias.Com, LLC. All rights reserved.
Data and information is provided for informational purposes only, and is not intended for trading purposes. Neither Knobias.Com, LLC, nor any of its data or content providers shall be liable for any errors or delays in the content, or for any actions taken in reliance thereon. By accessing the Knobias.Com website(s), a user agrees not to redistribute the information found therein. Knobias.Com, LLC is not a registered broker-dealer and does not endorse or recommend any securities listed herein or any services of any brokerage company.
دورة المؤشرنت للتحليل الفني
50 دينار كويتي