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Just
recently, AMZG announced the hiring
of Tom Lantz as its
Vice President of Operations, effective
June 7, 2010. Mr.
Lantz is a professional engineer, possessing more than
30 years of experience in oil and gas reservoir and
operations engineering. From 1998 through 2006, Mr.
Lantz was employed as an Asset Manager for
Halliburton Energy Services, during which
time he led the efforts for several highly successful
development programs for Halliburton's clients,
including the initial development of the Elm Coulee
oil field!
As you can see,
AMZG is putting together a winning team to
take this company to the promise land!
AMZG is
already
positioned for huge growth and has built significant
assets that are ready to develop into PRODUCING
RESERVES!
AMZG is committed to developing
highly
profitable oil and gas reserves situated in
resource rich plays ranging from Texas to North Dakota
and into Saskatchewan. AMZG is
strategically positioned in some of the country's most
productive oil and gas regions!
The Company�s business
strategy is to leverage its management team's
strength, particularly in the Bakken oil play, to
acquire attractive acreages, initiate production
within its target locations and enhance the value of
its acreage through drilling and industry
partnerships. AMZG has assembled an
enviable lease position with a large resource base.
The Company�s total acreage in the prolific Bakken Oil
Play is spread over 7,350 net acres and is estimated
to have a resource base of over 8 million
barrels of oil!
The Spyglass Project is
American Eagle�s premier high potential Bakken
Prospect located right on the Saskatchewan border in
Divide County, North Dakota. The Company�s leases are
spread across 3,035 net acres and expected to hold
approximately 4-6 million barrels of oil. AMZG,
recently acquired a 50% interest in the Hardy Bakken
Prospect from Eternal Energy Corp, in exchange for a
50% interest in its Spyglass Project. The Hardy Bakken
Prospect is located in the Saskskatchewan portion of
the Williston Basin and spreads across 4,320 net
acres. Based on conservative estimates, management
expects this prospect to hold 2-4 million barrels of
oil.
From my understanding,
AMZG plans on starting drilling this
year!
A detailed geologic and
engineering study of this area indicates significant
remaining potential both in terms of drilling new
wells and reopening existing wells. Production in this
area began in the 1970s with the completion of 600
wells, many of which are still producing at low rates.
However, management believes they will be able to
maximize the reserve potential in these formations by
applying new drilling and fracture stimulation
technology.
American Eagle has
identified over 50 wells which are currently producing
at low rates and are attractive targets for
acquisition. The Company is currently in negotiations
with many of the operators of these wells to try to
acquire them. The Company anticipates acquiring its
first of many wells in this region sometime during the
second quarter of 2010 with recompletion activities to
begin soon after that. American Eagle has identified
other formations in the basin that have similar
potential as the Bakken and is actively looking at
expanding its acreage in this region.
AMZG
just announced some exciting news recently that they
along with its 50% working interest partner, Eternal
Energy Corp., have completed the mechanical workover
of the Hardy 2D7-9-3D2-16-4-21
well, located in southeastern
Saskatchewan.
Recovery of the fluids used during the workover
efforts has commenced and the Company currently
anticipates returning the well to
production within the RIGHT NOW!
The CEO stated, "We are
hopeful that the well can be returned to its
historical production levels, which will provide early
cash flow and serve as a springboard for future
drilling efforts in the area."
The partners have also
submitted a horizontal well license application for an
offset location in the targeted drilling area and hope
to commence drilling a second horizontal well during
the fourth quarter of 2010.
Oil is looking very
BULLISH!
Forecast global oil
demand for 2010 and 2011 is revised up by 80,000
barrels a day and 50,000 barrels a day respectively.
Oil demand is thus expected to average 86.6 million
barrels a day in 2010 and 87.9 million barrels a day
in 2011!
In our opinion, many oil
companies will be performing very well over the
long-term as oil gets ready to head back to $100 a
barrel and AMZG is poised to take
advantage of this momentum!
Furthermore, AMZG
is a completely UNDISCOVERED
oil gem play and the investment community is about to
find out about it! The best part is WE GOT
IT FIRST!
The stock is sitting
right below a dollar and in our opinion with any
demand coming in over the next few weeks I believe we
will see this fly above a dollar. Take advantage while
it is still at these levels!
As always please use
limit orders, stop loss orders to protect yourself,
and take profits when in position to do so!
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