| Business Summary | | American
Resources
Offshore,
Inc.
is
engaged
in
the
exploration,
development
and
production
of
oil
and
natural
gas
properties
located
in
the
Gulf
of
Mexico
off
the
coasts
of
Louisiana
and
Texas.
The
Company's
area
of
concentration
is
the
outer
continental
shelf
of
the
Gulf
of
Mexico,
which
is
an
established
oil-
and
natural
gas-producing
basin
with
a
history
of
exploration
and
development
activity.
The
Company
owns
interests
in
31
wells
and
32
lease
blocks
in
this
area.
The
32
leases
cover
a
total
of
157,502
acres
and
account
for
all
of
the
Company's
proved
reserves.
In
December
1999,
the
Company
sold
a
substantial
part
of
its
assets,
including
its
Appalachian
oil
and
natural
gas
properties
and
operations,
an
80%
interest
in
its
assets
located
in
the
Gulf
of
Mexico
and
other
assets.
Of
these
leases,
17
are
offshore
Louisiana
and
15
are
offshore
Texas.
Twelve
of
the
leases
are
producing,
and
20
are
held
for
future
development.
Those
leases
not
producing
are
under
primary
term. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | American
Resources
Offshore
is
an
integrated
oil
and
gas
company
engaged
in
the
exploration,
development,
acquisition,
and
production
of
oil
and
gas
properties
in
the
outer
continental
shelf
of
the
Gulf
of
Mexico.
For
the
six
months
ended
6/01,
revenues
rose
67%
to
$3.3
million.
Net
income
totalled
$750
thousand,
up
from
$163
thousand.
Results
reflect
increased
natural
gas
production,
along
with
improved
margins. | More
from
Market Guide: Significant
Developments |
| Officers | |
| Position | Ivar Siem, 53 | Chairman,
Pres, CEO | G. Brian Lloyd, 41 | VP,
Treasurer | John Atwood, 48 | VP,
Sec., Director | Roland Keller, 61 | VP |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|