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Gold/Mining/Energy : American International Petroleum Corp -- Ignore unavailable to you. Want to Upgrade?

To: cite who wrote (6321)	1/5/1998 4:47:00 PM
From: qdog	Read Replies (2) \| Respond to of 11888

I'm feel like getting abused, so here is my humourous and satirical take on this particular story today. The company said it expects seismic data by the end of January from two geophysical companies. The information will be used to determine how much oil is in the company's Chikuduk structure in its western Kazak block. Keith R. Bossey, an analyst at Robert M. Cohen & Co. in Great Neck, N.Y., agreed with the company's explanation that its stock rose on the expected seismic studies. "This stock trades on anticipation of news," Bossey said. "We saw a selloff at the end of the year, and we see a rebound from those lows." Hmmm. Let me get this straight. They mobilized crews to acquire how many kilometers of data? By the end of January (now) we anticipate all that data to be processed and interpret? OK. Again we determine amounts of oil by above ground methods. Yeah forget drilling the well. Chuck Strain, an analyst at Strain Consultants Inc. in Houston, agreed that stocks such as American International usually bounce higher in January and trade on anticipated news. "It's a rumor stock," Strain said. "The price has nothing to do with fundamentals." Strain said his firm rates American International a buy, but only for speculative accounts. He said it's unclear how the company, which is principally an exploration firm, is going to extract oil from its Kazak block. "Everyone agrees that there is a huge amount of oil in Kazakstan, but the question is how you get your hands on it," Strain said. Drill the well would be a good start, Chuck. Rumour stock with nothing to do with fundamentals?? Drill the well would be a good start, Chuck. Oh, I already said that. Bossey said the company needs to find a strategic partner to exploit the block. He expects the company to announce a deal with a major oil firm within six months. Now here is an interesting one; Bossey is saying they need to secure a JV within six months. Where was all those prediction of a couple of months ago?? Engineers who evaluated seven of 16 geological structures have estimated at least 1.1 billion barrels of oil are in the concession's recoverable reserves, the spokesman said. The Chikuduk structure is believed to be the largest structure in the company's block, he said. I absolutely love this one. No wells drilled, no idea of flow rates and no real extensive downhole analysis; we have 1.1 billion recoverable reserves!! Wow!! Hey Exxon, Mobil, Texaco, Chevron, Oxy and others; you guys need to get in touch with some one at AIPN, they can determine recoverable rates with little or no downhole study and measurement!!!! ( I'll allow a slip of the old terminology if I'm allowed to have some fun with it!!!) No I don't put anything on this, but others in the market did. However Crude broke $17 barrier and closed at $16.90 for Feb contract on light sweet crude. That is significant.