Welcome To The American Energy Production HUB On AGORACOM
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American Energy Production, Inc. (OTCBB, AMEP) is a publicly traded oil and gas company that is engaged primarily in the acquiring, developing, producing, exploring and selling of oil and natural gas. The Company traditionally has acquired oil and gas companies that have the potential for increased oil and natural gas production utilizing new technologies, well workovers and fracture stimulation systems. AMEP has expanded it’s scope of business to include the drilling of new wells with its own equipment through its wholly-owned subsidiary companies.
AMEP’s and its subsidiary’s are primarily involved in three areas of oil and gas operations.
1. Leasing Programs.
2. Production Acquisitions
3. Drilling and Producing with Proven and Emerging Technologies.
AMEP believes that for the foreseeable future, the world will be highly dependent on oil and natural gas. Currently, alternative fuels are far more expensive than fossil fuels and because of the politically unstable conditions of many of the energy producing regions of the world, AMEP believes that oil and natural gas will remain a key yet volatile component of the world energy future. Furthermore, AMEP believes that with the ever increasing world demand for energy the domestic production of oil and gas will play an even greater role in America’s future then it already has to date.
HISTORY AND NATURE OF BUSINESS
The Company was formerly known as CommunicateNow.com, Inc. and was incorporated on January 31, 2000 under the laws of the State of Delaware. On July 15, 2002, the Company changed its corporate name to American Energy Production, Inc.
On February 20, 2003, upon the acquisition of certain oil and gas assets, the Company entered into a new development stage. Activities during the development stage include acquisition of assets, obtaining geological reports, developing an implementation plan to extract oil and gas, completing initial sales of oil and seeking capital.
On January 12, 2004, the Company filed with the Securities and Exchange Commission (“SEC”) to be regulated as a BDC under the Investment Company Act of 1940, as amended (“Act”). Accordingly, the Company was regulated as a Business Development Company (BDC) under the Act. At the time of its election, the Company had determined that its operating model best approximated that of a BDC and intended to make investments into developing businesses in the oil and gas and other industries.
Subsequently, the Company’s Board of Directors determined that the BDC structure was not in the best interest of the Company. On March 13, 2007, at a Special Meeting of Shareholders, the Shareholders approved and authorized the Board to withdraw the Company’s election to be treated as a BDC under the 1940 Act. On April 3, 2007, the Company filed to withdraw its election to be regulated as a BDC and as of that date, is no longer a BDC under the 1940 Act.
The Company is now an Oil and Gas Operating Company with consolidated subsidiaries.