Amen Properties Reports Results for First Quarter of 2011

RICHARDSON, Texas--(BUSINESS WIRE)--Amen Properties (Pink Sheets: AMEN) today announced financial results for its fiscal quarter ended March 31, 2011. The Company posted quarterly revenue of $811 thousand and a net loss of $(217) thousand, or $(4.24) per diluted share. These results compare to revenue of $1.1 million and a net loss of $(222) thousand, or $(4.34) per diluted share, for the year ago quarter.

The decrease in revenue versus last year was driven primarily by a decrease in commodity prices for natural gas and a decrease in production related primarily to an interruption in operations at the Big Escambia Creek Gas Plant.

The Company reported that it received $627 thousand in cash distributions from its oil and gas properties during the quarter.

The Company’s 2011 first quarter report is available for viewing or download from the company’s web site – www.amenproperties.com.

About Amen Properties:

Amen is a Christian corporation with a strategic asset – a net operating loss accumulated during the Company’s “dot com” past totaling $28 million which can be used to offset tax liabilities arising from future earnings. Amen seeks to own strong energy-related assets and businesses with earnings which can be shielded from taxes via the Company’s NOL.