SOURCE: American Green Group, Inc.

March 11, 2008 16:00 ET

American Green Group Announces State Of The Company

NEW HAVEN, CT--(Marketwire - March 11, 2008) - American Green Group, Inc., formerly Regions Oil and Gas (PINKSHEETS: AMGG), released the following "State Of The Company."

With the acquisition of American Energy Savers, Inc. on 1/31/08, AMGG.PK, formally Regions Oil and Gas, changed direction from an oil and gas company to a holding company. The company now has only one wholly owned subsidiary, American Energy Savers, Inc. Revenues for American Energy Savers will be released with the March 31, 2008 first quarter financial statements.

Assets of Regions Oil and Gas, Inc. per 12/31/07

Prior management had concluded that the well leases, equipment and minor revenue that would be received from Leatherneck Energy required an investment that was not able to be financed. Therefore, they decided to change the direction of the company. All assets were returned to Leatherneck Energy / Regions Oil and Gas, Texas. Former management returned 206,235,751 pre-reverse shares and forfeited all future shares that were to be issued by contract.

Prior to the acquisition, no officer or director of American Energy Savers, Inc. was in any way involved in the decisions of the prior management of the oil and gas company. At the time of the transaction between American Energy Savers and Regions Oil and Gas, prior management of the oil and gas company required that a reverse stock split occur as a condition of the acquisition immediately following the acquisition's completion.

New Business

In January, the Company acquired American Energy Savers ("AES") of New Haven, CT, a family owned and operated business that prides itself on customer satisfaction. Since 1985, AES has offered its customers cutting-edge products with superior workmanship. AES is one of the leading contractors for the state of Connecticut's energy conservation programs and has also participated in many projects for Yale School of Architecture. The company has several contracts that create the expectation of a 20% increase in revenue over 2007.

About American Green Group, Inc.

American Green Group, Inc. is a holding company with a strategy seeking to aggregate various business models to create a highly successful and profitable company.

Disclaimer:

Statements released by American Green Group, Inc. that are not purely historical are forward looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental and technological factors. The company does not undertake any responsibility to update the forward-looking statements contained in this release.

Contact Information

  • Contact:
    American Green Group, Inc.
    Phone: 561-820-2444