American International Petroleum Corp Message Board

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Gold/Mining/Energy : American International Petroleum Corp

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To: qdog who wrote (155)	7/13/1997 5:38:00 PM
From: Taylor Mill	of 11888

qdog >>It was about a 2 1/2 dollar stock before the 10 :1 reverse split. Like all oil ventures, it's when the hoel is punched that counts. Colombia hype spawn really from Tritons huge discovery. It spilled into others. The siesmic never showed much on thier leases.<< Yep --- punching the hole is what counts. I agree also that AIPN's Colombia foray was post Triton hype. And now in Kazakh, here is a company that probably would have financial difficulty just to get a rig on site let alone drill a few holes. Yet they have the nerve to suggest to the unwary public that they have "found" 1 billion barrels in potential reserves. What is more distressing are the more "embellished" versions of the story appearing in Reuters and Associated Press which are suggesting even more openly that a "true" find has been made. The local Houston Chronicle even screwed up and ran that story today. An oil town newspaper should know better IMO. This seems to be a well-orchestrated PR program to achieve what we see happening ---- i.e. a rapid spike up in stock prices. One that more appropriately belongs on the Vancouver exchange where people expect it --- not here on our own Nasdaq. Who will benefit??? Astute day traders watching the technicals --- happily some are resident here on these boards. Good luck guys!! Who else?? Perhaps the insiders waiting to cash out on options with expiration dates or others who have bought in advance of the release. Who likely won't benefit?? Investors believing the 1 billion barrel B.S. and thinking the big one has come home. qdog --- I don't want to disagree qith your suggestionof $2.50 pre-split but, based on my quick look at some old info a single 1 for 10 reverse split occurred effective October 28, 1993. So the actual pre-split stock in my opinion was probably selling more like about $.60 - $.70 at the time. Interestingly enough since then management has not been hesitant to dilute shares like crazy. About a 500% increase in shares or share equivalents have occurred since the split date. The company has continuously been broke and has issued new shares in the form of overseas convertibles, outright stock and warrant offerings, and even for payment of minor expenses. This management doesn't care about diluting the individual shareholders IMO. My opinion is that to develop a 70% WI foreign concession probably means that this company must both horribly dilute ownership more in a combination of new financing and partnering. Shareholders waiting it out for the big celebration have years of dilution and development expenditures to watch out for. 70% WI now will probably mean a less than 10% NRI if any oil ever flows. Check out AKSEF for a good indicator of what to expect, and AKSEF was and still is a in a much much stronger position than these guys. And AKSEF has substantial reserves --- proven by drilling many wells. In the meantime, AIPN has made no money on anything. They were given a qualified opinion by their auditors after 1995 yr end who subsequently resigned. Their viability as a "going concern" was questioned in the auditors' opinion letter. They have sold off all assets of even marginal value. Their only hope is to hype this untested acreage and hopefully maneuver more cash into company coffers. Just don't let it be at yopur expense.

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