SOURCE: American Oil & Gas Inc.

American Oil & Gas Inc.

January 07, 2010 11:25 ET

American Oil & Gas Completes Five Well Niobrara Re-Completion Program at Fetter

DENVER, CO--(Marketwire - January 7, 2010) - American Oil & Gas, Inc. (NYSE Amex: AEZ) provides the following production information from the five well Niobrara re-completion program pursuant to terms of a previously announced participation agreement at American's 53,000 gross (33,000 net) acre Fetter field project, located in the Powder River Basin of Wyoming:

                     Hageman   Wallis      Hageman    Sims        Sims
                      11-22     6-23       16-34H     43-28       7-25

Date of Completion  11-6-2009 11-23-2009 12-14-2009 12-15-2009 12-26-2009
Days on Production  47        42         19         11            7

  Max 24 hour rate:
    Oil (bbls)      50        455        111        95            181
  Natural gas (MCF) 180       656        132        248           1,245
    BOE             80        564        133        136           389

Avg daily production:
    Oil (bbls)      34        121        47         41            98
  Natural gas (MCF) 113       517        89         159           655
    BOE             53        207        62         68            207

Pat O'Brien, Chairman and CEO of American, stated, "Our goal of creating a commercially viable developmental drilling program at Fetter remains on track. Results to date from our Niobrara re-completions give us added confidence that by combining production from the Frontier and Niobrara formations in vertically drilled wells, in addition to the potential for horizontal wells, we can establish a large multi-year development program in the field. We will now allow the wells to produce from the Niobrara formation while we plan additional field activity."

American Oil & Gas, Inc. is an independent oil and natural gas company engaged in exploration, development and production of hydrocarbon reserves primarily in the Rocky Mountain region. Additional information about American Oil & Gas, Inc. can be found at the Company's website: www.americanog.com.

This release and the Company's website referenced in this release contain forward-looking statements regarding American Oil & Gas, Inc.'s future plans and expected performance that are based on assumptions the Company believes to be reasonable. A number of risks and uncertainties could cause actual results to differ materially from these statements, including, without limitation, the success rate of drilling efforts and the timeliness of development activities, fluctuations in oil and gas prices, and other risk factors described from time to time in the Company's reports filed with the SEC. In addition, the Company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond the Company's control. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the issuance of this press release or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of any unanticipated events. This press release may include the opinions of American Oil & Gas, Inc., and does not necessarily include the views of any other person or entity.

Contact Information

  • Contact:

    Andrew Calerich
    President
    303.991.0173
    Fax: 303.595.0709
    1050 17th Street, Suite 2400
    Denver, CO 80265

    Neal Feagans
    Investor Relations
    Feagans Consulting, Inc
    303.449.1184