Americas Energy Company is currently operating a surface mine project to produce steam and specialty coal in Kentucky. They are also in the exploration stage of a metallurgical coal project in Tennessee. The Company is a consolidator of high quality energy properties and is currently evaluating several additional coal projects and an oil and gas rework project in Southeastern Kentucky. Americas Energy Company, currently based out of British Columbia, is in the process of acquiring Americas Energy Company, Inc. (AECo), based out of Knoxville, Tennessee,
Americas Energy Company and Americas Energy Company, Inc. (AECo) announced last month that it has exceeded expectations on the initial delivery from their Upland Church Surface Mine. The mine is in Bell County, Kentucky on AECo’s 1,732-plus acre Cardinal lease. AECo plans to produce approximately 12,000 short tons from surface mining and additional 3-4,000 short tons from auger mining of high-grade specialty coal per month on the Upland Church property.
On December 31, 2009, Americas Energy Company and Americas Energy Company, Inc. (AECo) announced that AECo completed their initial $1,000,000 financing. The $1,000,000 financing is part of the Definitive Agreement between the two companies entered into on August 26, 2009, whereby Americas Energy Company will acquire AECo. The two companies have expanded their financing arrangement to include an additional $8,000,000 to complete the acquisition of other properties including the Evans Coal Company as announced by AECo on November 24, 2009.
“The completion of this initial funding has allowed us to acquire three high quality energy assets that include coal, oil and natural gas in Kentucky and Tennessee. In the past 3 months we have begun production and delivered our first shipments of oil from AECo Well #1; delivered the first production of coal from our Upland Church property; and completed the drilling of our Bledsoe, Tennessee coal property. We are moving forward with our engineers to develop a comprehensive mining plan designed to maximize our production,” said Chris Headrick, President and Co-CEO of AECo.
Recently, Americas Energy Company and AECo announced that AECo hired Samuel “Sam” Johnson, MBA, PE, to their executive team as Chief Operating Officer (COO). Mr. Johnson has over 40 years of coal industry experience and most recently worked for Midwest Terminals of Toledo International. Mr. Johnson has also worked with two publicly traded companies: Transco Energy and General Energy.