Explore Profits with $AEXP in 2010
January 1st, 2010 at 9:55 am Posted by The Dean
The other day, The Dean told the CollegeStock Community that he’s been working overtime to deliver plenty of free stock picks in 2010. Well, here we are and what better way to explore the New Year’s profit potential than an oil and gas stock!
American Exploration Corp. (OTC: AEXP.OB) is an independent oil and gas company responding to the “urgent need” for American energy independence.
In mid-November, $AEXP teamed up with Guggenheim Energy Opportunities, LLC to drill and develop the Haynesville territory in Mississippi. $AEXP has also joined forces with Mainland Resources, Inc. for a combined mineral lease holdings of 13,225 acres.
In addition to more acreage and an experienced team member, The Dean believes Mainland Resources, Inc. gives $AEXP great potential because the company acquired a $40 million line of credit in October so projects can be funded, developed and drilling coon soon be underway.
$AEXP‘s website tells us that the U.S. Geological Survey and the Department of Energy reports the Gulf Coast, from east Texas to Mississippi, “consists of favorable exploration targets with very significant resources yet to be discovered.”
This region is said to contain anywhere from 9 billion to 11 billion cubic feet (Bcf) per well. The U.S. Energy Information Administration indicates that the average price for natural gas in October was $11.65 per thousand feet (or $0.01165 per cubic foot).
The Dean crunched the numbers and likes $AEXP‘s discovery potential of $105 million to $130 million per well in this region and, with 13,225 acres, $AEXP could already control, and discover, additional wells.
HAPPY NEW YEAR!
