American Energy Development Corp (PK:AEDC)
Business Focus: Oil & Gas Exploration and Production
| Sector: Energy | Industry: Oil & Gas Exploration and Production |
| Company Contact | |
| Address: | 1230 Avenue Of The Americas 7Th Floor NEW YORK NY 10020 |
| Tel: | N/A |
| Website: | N/A |
| IR: | N/A |
| Key People | ||
| Herold Ribsskog President, Chief Executive Officer, Director | Joel Felix Chief Financial Officer, Treasurer, Secretary, Director | |
| Business Overview |
| American Energy Development Corp. is an independent energy company. The Company is focused on the development of acreage in established Oil and Gas basins using the geological, geophysical and environmental technology to locate, drill and produce oil and gas reserves in the United States and other secure regions. The Company's project is Dansville prospect. The Company's 1,343-acre Dansville prospect is located in oil bearing reef belt, which encircles the entire Michigan Basin. The belt covers a 12 to 15 mile wide path from Oceana County, through Kalkaska and Otsego Counties, to Presque Isle County. Using three-dimensional (3-D) seismic, the Company located three prospects, which include Brown-12. |
| Financial Overview |
| For the three months ended 30 September 2013, American Energy Development Corp revenues decreased 35% to $46K. Net loss decreased 97% to $5K. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Lower net loss reflects General and administrative decrease of 76% to $47K (expense). |
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