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Stock Market & Financial Investment News

News Breaks
October 7, 2011
14:26 EDTAXRNicholas G. Karabots reports 51.6% stake AMREP Corp
News For AXR From The Last 14 Days
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September 9, 2014
16:24 EDTAXRAMREP enters into oil, gas lease
AMREP reported that its indirect subsidiaries, AMREP Southwest and Outer Rim Investments have entered into an Oil and Gas Lease with Thrust Energy, in which AMREP Southwest leased to Lessee all minerals and mineral rights in and under approximately 55,000 surface acres of land in Sandoval County, New Mexico for the purpose of exploring for, developing, producing and marketing oil and gas. In consideration for entering into the lease, AMREP Southwest received approximately $1M as a lease bonus payment and, if any oil and gas is produced from the leased premises, AMREP Southwest will receive 1/7th of the gross proceeds from the sale of such oil and gas less any expenses to place the oil and gas in marketable condition after it is brought to the surface.

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