SOURCE: The Bedford Report

The Bedford Report

January 26, 2010 10:00 ET Complimentary Analyst Research for the Following Oil & Gas Exploration & Production Companies: Ultra Petroleum Corp. (NYSE: UPL), American Petro Hunter Inc. (OTC BB: AAPH.OB), Carrizo Oil & Gas Inc (Nasdaq: CRZO), and American Oil & Gas Inc (AMEX: AEZ).

Note to Editors: The Following Is an Investment Opinion Being Issued by the Bedford Financial Report.

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The following are previews of research reports on UPL, AAPH.OB, CRZO, and AEZ:

Ultra Petroleum Corp. (NYSE: UPL) -- Ultra Petroleum Corp has been working hard to reduce costs and increase efficiency since 2008. UPL has updated its rig fleet, and has signed multi-year contracts with service providers at what we see as attractive rig rates.

American Petro Hunter Inc (OTCBB: AAPH) -- On Monday, AAPH announced that it received a newly updated, follow-on research report authored by Grass Roots Research and Distribution, Inc. The report argues that AAPH is extremely undervalued at the moment.

Carrizo Oil & Gas Inc (NASDAQ: CRZO) -- Carrizo Oil & Gas has an abundance of production growth planned in 2010. Wall Street analysts are estimating 18% growth for the year, as the company continues its Barnett Shale development and moves into the Marcellus Shale.

American Oil & Gas Inc (AMEX: AEZ) -- AEZ has participated in the drilling and completion of four wells so far in the Krejci project. The first two wells drilled are producing. However, they are not considered commercially successful.

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