SOURCE: American Oil & Gas, Inc.

American Oil & Gas, Inc.

September 30, 2009 11:04 ET

American Oil & Gas Increases Bakken/Three Forks Ownership to Approximately 76,000 Net Acres

American Acquires Approximately 16,000 Additional Net Acres North of and Adjacent to Its Goliath Acreage Position

DENVER, CO--(Marketwire - September 30, 2009) - American Oil & Gas, Inc. (NYSE Amex: AEZ) has signed a definitive agreement to acquire leasehold rights to approximately 16,000 net acres in Williams County, North Dakota in a privately negotiated transaction with Evertson Energy Partners. Subject to customary due diligence, the transaction is expected to close within 30 days.

Pat O'Brien commented, "We are pleased to be able to add to our Bakken and Three Forks acreage position in such a meaningful manner and on very attractive terms. Similar to our Goliath acreage position, our geological evaluation of this additional acreage shows productive potential from both the Bakken and the Three Forks formations. We plan to begin our Bakken/Three Forks drilling operations this fall."

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. is available via the Company's website at 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