AEZ

[penny-trader0214]

My friend just told me about this stock, he has it on his portfolio, you can check it out at www.undiscoveredequities.com


American Updates Douglas Project Activity
Friday September 21, 8:00 am ET


DENVER, Sept. 21 /PRNewswire-FirstCall/ -- American Oil & Gas Inc. (Amex: AEZ - News) announced today that the two wells drilling in the approximate 128,000 gross acre Douglas project in the southern portion of Wyoming's Powder River Basin are progressing ahead of schedule, and production testing continues at the Sims 15-26H well.

At the Company's West Douglas prospect State Deep 7-16 well, intermediate casing has been run and cemented to a depth of 12,082 feet. Drilling operations have resumed where natural gas has been encountered and flared while drilling in the Niobrara formation. A 31-foot core has been retrieved from the Niobrara and drilling operations continue towards a targeted total depth of approximately 14,500 feet. Extensive data will be obtained in a number of prospective formations including the Steele, Niobrara, Frontier, Mowry and Dakota after which completion operations will commence if warranted. Pursuant to the recently announced agreement with Red Technology Alliance, RTA is funding 100% of the costs to drill and complete the State Deep 7-16 well. American will own a 45% carried working interest in the test well and will retain a 45% working interest in the West Douglas undrilled acreage. Halliburton is project manager.

At American's Fetter Field Hageman 16-34HR well, drilling has progressed through the top of the Niobrara formation and 9-5/8 inch intermediate casing has been set to 10,860 feet. Current plans for the Hageman are to replicate the Sims 15-26H drilling program by again drilling horizontally in the Frontier formation.

At the Company's Sims 15-26H well, production tubing has been installed in the well and testing continues into the sales line from the unstimulated 1,165 foot horizontal lateral that was drilled and cased into the Frontier formation, one of several prospective formations in the Fetter Field. Current plans include continuing the natural, unstimulated production testing and reservoir pressure analysis of the Frontier formation. Staged artificial fracture stimulation procedures are being designed and may be performed on the well followed by additional testing.

The Sims 15-26H and Hageman 16-34HR wells are the first two of a planned three to four well program at Fetter that is being funded by RTA and project managed by Halliburton. American is being carried through the tanks in this phase of the drilling program for a 23.125% working interest in each of the three to four wells, and currently owns a 92.5% working interest in the approximate 51,000 net acre Fetter Field acreage position. Upon completion of the initial drilling program, RTA will earn a 25% working interest in the undrilled acreage. American will retain a 69.375% working interest in the undrilled acreage and privately held North Finn LLC will retain the remaining 5.625% working interest.

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 http://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, the Company's dependence on future drilling success to produce revenues, 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:

   Andrew Calerich, President               Neal Feagans, Investor Relations
   303 991 0173 Fax: 303 595 0709,          Feagans Consulting, Inc,
   1050 17th Street, Suite 2400             303 449 1184
   Denver, CO 80265

[penny-trader0214]

American Updates Douglas Project Activity
Thursday October 4, 8:30 am ET 
West Douglas State Deep 7-16 Well Warrants Production Testing


DENVER, Oct. 4 /PRNewswire-FirstCall/ -- American Oil & Gas Inc. (Amex: AEZ - News) announces that the State Deep 7-16 well at its West Douglas prospect recently reached total depth at 14,220 feet. Information obtained and observed while drilling, combined with electric log analysis, indicates the well has potential pay in up to five separate formations. 41/2 inch production casing has been run to total depth. Preparations are underway to begin completion and testing operations once the drilling rig has been moved off the site. Pursuant to the agreement with Red Technology Alliance ("RTA"), 100% of the cost to drill and complete the State Deep 7-16 well is being funded by RTA. American will own a 45% carried working interest in the test well and will retain a 45% working interest in the West Douglas undrilled acreage. Halliburton Energy Services, Inc. is project manager. The drilling rig used on the State Deep 7-16 well is currently moving to American's Fetter Field to immediately commence drilling the Wallis 6-23 well, which is a vertical well designed to test multiple prospective formations utilizing multi-stage frac technology.

At American's Fetter Field Hageman 16-34HR well, the curve that transitions the wellbore from vertical to horizontal is being drilled into the top of the targeted Frontier formation and 7-inch casing will be installed. Once the casing has been cemented in place, drilling will proceed horizontally into the Frontier in a manner designed to replicate the Sims 15-26H well.

At American's Sims 15-26H well, approximately 50 days of preliminary production testing into the sales line from the unstimulated 1,165 foot horizontal lateral that was drilled and cased into the Frontier formation, one of several prospective formations in the Fetter Field, has been successfully concluded. The production test included periods of intentionally flowing the well at high and low rates and designed shut in periods to evaluate pressure response. During the 50 day production test, including shut in days, the well produced a total of approximately 168 million cubic feet of gas (mmcfg) into the sales line and an additional 12 mmcfg was flared. The well also produced approximately 4,575 bbls of high gravity oil. Staged artificial fracture stimulation procedures are currently being performed on the Frontier formation which will be followed by frac fluid recovery operations (clean up) and additional testing.

The Wallis 6-23, Sims 15-26H and Hageman 16-34HR wells are being funded by RTA and project managed by Halliburton. American is being carried through the tanks in this phase of the drilling program for a 23.125% working interest in each of the three wells, and currently owns a 92.5% working interest in the approximate 51,000 net acre Fetter Field acreage position. Upon completion of this initial drilling program, RTA will earn a 25% working interest in the undrilled acreage. American will retain a 69.375% working interest in the undrilled acreage and privately held North Finn LLC will retain the remaining 5.625% working interest.

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 http://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, the Company's dependence on future drilling success to produce revenues, 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:
    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




--------------------------------------------------------------------------------
Source: American Oil & Gas Inc.

[penny-trader0214]

American Updates Goliath Project Activity
Thursday November 15, 8:30 am ET 
Solberg 32-2 Well Tests At a Rate of Over 750 Barrels of Oil Equivalent Per day


DENVER, Nov. 15 /PRNewswire-FirstCall/ -- American Oil & Gas, Inc. (Amex: AEZ - News) announced today that preliminary production testing has recently been completed on the Solberg 32-2 well, located within American's approximate 87,000 gross acre Goliath project in Williams County, North Dakota. American owns a non-operated 11.9% working interest (a net revenue interest of approximately 9.5%) in the well which was drilled to a total depth of approximately 14,400 feet as an offset to a Red River formation discovery well that was drilled and is owned by another operator. The Solberg 32-2 well tested at a restricted flow rate of approximately 2.1 million cubic feet of natural gas and 408 barrels of condensate (light oil) per day at an average flowing tubing pressure of 2,500 psi on a 13/64ths choke. Additional potentially productive intervals within the Red River formation have not yet been tested, but could be tested and possibly produced at a later date. The Solberg 32-2 well is currently shut-in and waiting on completion of a nearby natural gas processing plant, which is expected to be operational by year-end.

American and other joint interest owners are currently acquiring additional seismic data by conducting a 10.5 square mile 3-D seismic program in the area around the Solberg 32-2 well. Data obtained from this seismic program will assist in the selection of additional Red River offset locations to the Solberg 32-2 well, and may identify additional Red River targets in this trend. American's working interest in future wells will vary, and could be as high as 50%.

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: http://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, the Company's dependence on future drilling success, 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:
     Andrew Calerich, President             Neal Feagans, Investor Relations
     303.991.0173   Fax: 303.595.0709       Feagans Consulting, Inc
     1050 17th Street, Suite 2400           303.449.1184
     Denver, CO  80265




--------------------------------------------------------------------------------
Source: American Oil & Gas, Inc.

[penny-trader0214]

They have a very nice revenue growth from last year.
Also, if you see the balance sheet, they have a bunch of cash with just a little of liabilities. When you see the chart, it had a triple bounce from last August till October. This would be a nice base around $5.25 so that this area would be a good price to buy, just IMO.
Thanks for looking and good luck with your trading.

Full financial statement:

http://finance.yahoo.com/q/is?s=aez

Chart:

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=aez&sid=0&o_symb=aez

Do your DD because trading stock is very risky.

[penny-trader0214]

American Oil and Gas Provides Drilling and Completion Updates
Monday January 14, 8:00 am ET

DENVER, Jan. 14 /PRNewswire-FirstCall/ -- American Oil & Gas, Inc. (Amex: AEZ - News) provides the following operational update:

Fetter Project

Hageman 16-34HR well: The Hageman well has recently reached total depth in the targeted Frontier formation and the drilling rig has been removed from the well site. Sidetracking operations in the Frontier, undertaken to maximize the intersection of naturally occurring fracture systems, resulted in three horizontal laterals totaling over 5,200 cumulative feet of lateral well bore, all of which was drilled in zone and will be opened up for production. Completion activities are underway and after completion, the well is expected to be immediately placed on production.

Wallis 6-23 well: The Wallis well has recently been drilled to a total depth of 13,000 feet. The drilling rig has been removed from the well site and completion operations have commenced. The Wallis well is the first vertical well to be drilled by American and partners in the Fetter project and is designed to test multiple prospective formations utilizing multi-stage frac technology. To date, the well has been completed and fracture stimulated in the Dakota formation, the deepest formation of interest in the well. As planned, the Dakota has been temporarily isolated below a cast iron bridge plug allowing completion operations to move up hole. Additional formations, including the Frontier, are prospective in the well. Upon completion and preliminary evaluation of these formations, the Dakota and our other zones of interest will be commingled, tested, and placed on production.

Sims 15-26H well: The 1,165 foot horizontal lateral, drilled into the targeted Frontier formation has recently been artificially fracture stimulated, cleaned up and returned to production at rates during the prior 25 producing days ranging from approximately 650 thousand cubic feet of natural gas equivalent per day to 7.2 million cubic feet of natural gas equivalent per day. The average production over this time period was approximately 1.7 million cubic feet of natural gas and 82 barrels of oil per day. Rates have fluctuated as natural gas production from the well has been affected by the relatively high oil to gas ratios currently being experienced, which is the subject of ongoing engineering, reservoir and production optimization analysis. Because of the high BTU content and the favorable high liquid content of the natural gas that is separate from the oil production (approximately three gallons per mcf), we received a price at the wellhead for November natural gas sales of $6.75 per mcf.

The Wallis 6-23, Sims 15-26H and Hageman 16-34HR wells are being funded by Red Technology Alliance ("RTA") and project managed by Halliburton Energy Services, Inc. ("Halliburton"). American is being carried through the tanks in this phase of the drilling program for a 23.125% working interest in each of the three wells, and currently owns a 92.5% working interest in the approximate 52,000 net (58,000 gross) acre Fetter acreage position. Upon completion of this initial drilling program, RTA will earn a 25% working interest in the undrilled acreage, American will retain a 69.375% working interest and privately held North Finn LLC will retain the remaining 5.625% working interest.

West Douglas Project

State Deep 7-16 well: Completion operations are currently underway in the Mowry formation, the primary objective in the State Deep 7-16 well. Test results from deeper formations yielded minor quantities of oil and natural gas, and information obtained from these deeper formations will assist with future drilling plans in the project area. The State Deep 7-16 well location was chosen to maximize the potential of the Mowry, however completion and testing programs are also planned for several prospective formations above the Mowry in the coming weeks.

Pursuant to the agreement with RTA, 100% of the cost to drill and complete the State Deep 7-16 well is being funded by RTA. American owns a 45% carried working interest in this test well and will retain a 45% working interest in the approximate 47,000 net (55,000 gross) acre West Douglas project area. Halliburton is project manager.

Pat O'Brien, CEO of American commented, "We are currently active on a number of wells in our Douglas and West Douglas project areas and are very pleased with the progress that is being made. RTA is expending the time, money and manpower necessary to gain as much geological and reservoir information as possible from the numerous formations these large acreage positions hold. This time and money will greatly optimize drilling and completion procedures in future wells. Of particular significance in the current program is the production history we are now getting from the Sims well, and will soon receive from the Hageman and Wallis wells, that will allow us to compare the economic and reserve recovery potential from a single zone horizontal well to that of vertical well with multiple formation completions. We look forward to providing additional updates as more information becomes available."

Krejci Project

Krejci Family Trust 32-1H Well: Drilling operations at the Krejci project have recently recommenced with the Krejci Family Trust 32-1H well following an extensive evaluation and study of the various drilling and completion methods used on prior wells. This well is currently at a measured depth of approximately 7,700 feet. Casing has been run through the turn and drilling is currently underway in the horizontal lateral section in the targeted Mowry formation. American owns a 45% working interest in the Krejci Family Trust 32-1H well and in the approximate 127,000 net (132,000 gross) acre Krejci project.

Goliath Project

Solberg 32-2 Well: In November, 2007, the Solberg 32-2 well tested at a restricted flow rate of approximately 2.1 million cubic feet of natural gas and 408 barrels of condensate per day (over 750 barrels of oil equivalent per day) from one interval within the Red River formation. Additional potentially productive intervals within the Red River formation could be tested and if productive, produced at a later date. The Solberg 32-2 well is currently shut-in and waiting on completion of a nearby natural gas processing plant and a pipeline that will connect the well, both of which are expected to be completed and operational before the end of the first calendar quarter of 2008.

American and other joint interest owners in the Goliath project have recently completed a 10.5 square mile 3-D seismic program in the area around the Solberg 32-2 well and are currently processing and interpreting the data. Information obtained from this seismic program will assist in the selection of additional Red River offset locations to the Solberg 32-2 well, and may identify additional Red River targets in this trend.

The Solberg 32-2 well is located within American's approximate 89,000 gross acre Goliath project in Williams County, North Dakota. American owns a non-operated 11.9% working interest (a net revenue interest of approximately 9.5%) in the Solberg 32-2 well. American's working interest in future wells will vary, and could be as high as 50%.

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: http://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, the Company's dependence on future drilling success, 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:
     Andrew Calerich, President               Neal Feagans, Investor Relations
     303.991.0173   Fax: 303.595.0709         Feagans Consulting, Inc
     1050 17th Street,                        303.449.1184
     Suite 2400 -- Denver, CO  80265


Source: American Oil & Gas, Inc.

[penny-trader0214]

American Oil & Gas Announces Fetter Well Reserve Estimates and Provides Douglas Project Completion and Production Updates
Friday February 22, 8:30 am ET

    DENVER, Feb. 22 /PRNewswire-FirstCall/ -- American Oil & Gas, Inc.
(Amex: AEZ - News) reports that the preliminary December 31, 2007 estimated ultimate
gross proved reserves for three wells drilled during 2007 at American's Fetter
project are as follows:



                          Natural Gas     Oil      Natural Gas     Natural
    Well Name              Equivalent    (Bbls)      Liquids         Gas
                            (Bcfe)                   (Bbls)         (Mcf)

    Hageman 16-34HR          2.924       89,384      97,015       1,805,249
    (Horizontal completion
    in the Frontier
    Formation)

    Wallis 6-23              1.989       61,041      67,051       1,220,815
    (Vertical completions
    in the Dakota and
    Mowry Formations)

    Sims 15-26H              3.275      102,065      94,609       2,095,170
    (Horizontal completion
    in the Frontier
    Formation)


The estimates presented are based on production history and/or reservoir data available through February 14, 2008 and are subject to future revisions as additional production history becomes available. The current reserve evaluation did not result in value being assigned yet to proved undeveloped locations offsetting these initial wells due to the high costs associated with drilling and completion operations to date. This was not unexpected as considerable time and capital was expended on these early wells to obtain geological and reservoir data that will not likely recur as additional drilling and field development continues. Final results will be provided in American's Annual Report on Form 10-K for the year ended December 31, 2007 to be filed with the SEC in March 2008.

Andrew Calerich, President of American commented, "the reserve estimates for the wells drilled at our Fetter project firmly support moving to the next phase of drilling that will focus on drilling efficiencies, maximizing production and reserve enhancement. We applaud Red Technology Alliance for the capital resources assigned and Halliburton Energy Services, Inc. and RTA for the human and technology resources deployed. Without this commitment, the Fetter Project could not have advanced to this level."

American's estimated total proved reserves at December 31, 2007, are 2.21 billion cubic feet of gas equivalent ("Bcfe"), a 62% increase over its December 31, 2006 proved reserves of 1.36 Bcfe. American's capitalized costs of oil and gas properties are limited in the aggregate to a full-cost ceiling that considers all projects' estimated proved reserves and recent oil and gas prices but cannot consider expected prices, probable reserves or fair value in excess of capitalized costs for unproved properties; therefore, American expects to record a full-cost ceiling impairment at December 31, 2007 of approximately $1.3 million, net of tax. The impairment amount may decrease or increase due to future events occurring prior to American filing its 2007 Annual Report on Form 10-K in March.

Fetter Project

Hageman 16-34HR well: The Hageman well has been completed and has commenced natural gas production into the sales line from the unstimulated 5,200 total feet of horizontal lateral that was drilled into the targeted Frontier formation. The well is currently recovering several thousand barrels of load water used to stabilize the well prior to completion operations. American expects to report actual production rates after the load water is recovered from the well.

Wallis 6-23 well: The Wallis well, which was drilled to a total depth of 13,000 feet, is the first vertical well to be drilled by American and partners in the Fetter project and is designed to test multiple prospective formations utilizing multi-stage frac technology. Production history from the Wallis well will allow an economic and reserve recovery comparison to be made between this type of vertical completion and that used on the Sims and Hageman wells which are single zone (Frontier formation only) horizontal completions. To date, the Wallis well has been completed and fracture stimulated in the Dakota and Mowry formations. Preliminary testing and evaluation of the Mowry is ongoing after which additional uphole formations, including the Frontier, will be completed. Upon completion and preliminary evaluation of all prospective formations in the well, the Dakota, Mowry and other zones of interest are expected to be commingled, tested, and placed on production.

Sims 15-26H well: The Sims well continues to produce into sales from the 1,165 foot horizontal lateral that was drilled into the targeted Frontier formation. Since January 1, 2008, the well has been on production for all but six days and daily natural gas production has ranged from less than one million cubic feet per day to over five million cubic per day. Over this timeframe, daily production for the well has averaged approximately 1.7 million cubic of natural gas and 50 barrels of oil. Daily volumes have continued to fluctuate as natural gas production from the well has been affected by the relatively high volume of high gravity oil that is a natural component of the reservoir. Although the oil is a benefit from a revenue generating perspective, the high volume of oil production can prevent the well from producing at optimum rates. This results in liquid (oil) loading and is the subject of ongoing engineering, reservoir and production optimization analysis. To date, the Sims well has cumulatively produced (into the sales line and flaring during early testing) approximately .5 billion cubic feet of natural gas equivalent during which time the well was often shut in or restricted due to testing and routine completion activities. Because of the high BTU content and inclusion of sales of natural gas liquids, which is separate from the oil production, American received a price at the wellhead for December natural gas sales of approximately $8.93 per mcf.

West Douglas Project

State Deep 7-16 well: Completion and preliminary testing of the Mowry formation has recently concluded and information obtained from the Mowry and deeper formations will assist with future drilling plans in the project area. Completion and testing operations are now underway in the Frontier formation, after which completion and testing of additional prospective formations above the Frontier are currently planned.

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: http://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, the Company's dependence on future drilling success, 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:
     Andrew Calerich, President              Neal Feagans, Investor Relations
     303.991.0173   Fax: 303.595.0709        Feagans Consulting, Inc
     1050 17th Street, Suite 2400 -          303.449.1184
     Denver, CO  80265


Source: American Oil & Gas, Inc.

[la-onda]

looks very interesting! 
cheers
Oliver


Zacks.com:
Let American Oil & Gas Pay You

We are reiterating our Buy rating on American Oil and Gas (AMEX: AEZ) shares and increasing our target price from $8.00 to $9.00 per share. Although recent results were on the weaker side, our overall positive view of the AEZ story remains unchanged. After booking reserves from the three Fetter Field wells it drilled in 2007 as a result of its partnership with  Halliburton-backed RTA, we feel that the Fetter Field's risk profile has meaningfully improved. Even with our conservative risked reserve assumptions we feel that AEZ is undervalued at current levels. We see significant reserve and production growth going forward.

We use an NAV (net asset value) calculation to value American Oil & Gas. The company has three unique development opportunities, each with a different return potential. We believe that our NAV calculation conveys the return potential of these prospects and properly discounts for drilling costs, LOE expenses, G&A, and future taxes. In our view, the NAV calculation based on our commodity-price deck is a conservative valuation approach. Contrary to general street practice and the requirements of the SEC PV-10, we use after-tax cash flows in our NAV model.

http://www.knobias.com/story.htm?eid=3.1.3e47f16d92c10a4fb9597429b0ffb690fd202193ad0697f58a9c9d200869858a

C. K. Cooper & Company Resumes Coverage of American Oil & Gas, Inc.
Monday , June 02, 2008 09:09ET

IRVINE, Calif., June 2 /PRNewswire/ -- C. K. Cooper & Company, an independent, full-service investment bank focused on the energy sector and headquartered in Irvine, California, announced today that it has resumed coverage of American Oil & Gas, Inc. (Amex: AEZ).

"We are pleased to see the company's exploration efforts paying off," said Joel Musante, a Senior Research Analyst with the firm. "The company is now turning its attention to the development of the Fetter Field, which should drive future production, earnings and cash flow growth."

Quotation:
AMERICAN OIL & GAS, INC.
(AMEX: AEZ) – EXPLORATION & PRODUCTION
RESUMING COVERAGE
• We are resuming coverage of American Oil and Gas, Inc. (AMEX: AEZ)
with a BUY rating and a price target of $6.00. AEZ is an emerging E&P
company with three early stage exploration projects in the Rocky
Mountains. Our price target is based on our NAV/share range of $5.71 to
$6.03. Current trading levels reflect only a fraction of the substantial
upside reserve potential from the three projects. Unrisked reserve
potential of the Fetter Field, the company's most advanced project,
accounts for about $3.75/share of our price target, and the remaining
$2.25/share is attributable to proved asset value. We think AEZ offers an
attractive risk/reward tradeoff, albeit a speculative investment.
• We think the company's 56% net revenue interest in the 51,000 acre
Fetter Field could translate into hundreds of drilling locations and over 700
bcfe of unrisked reserve potential. So far very few reserves have been
booked and production from the field has been minimal, but significant
gas shows in test wells, as evidenced by high oil and gas production rates
during drilling (ranging from 10-35 mmcfepd), indicates a substantial
resource may be in place.
• 2008 appears to be a turning point for AEZ in the Fetter Field as the
company moves from exploration to development. After testing a number
of different well designs, AEZ and its partner RTA have developed a well
completion suitable for recovering hydrocarbons at Fetter, while
overcoming a difficult drilling environment characterized by high reservoir
pressures and unstable geology. The company will move forward with a
development plan to drill 6-8 vertical wells over the next twelve months,
the first of which was spud in mid May 2008.
• Implementation of the Fetter drilling plan is expected to drive production,
earnings and cash flow growth. Production is expected to increase from
0.5 mmcfepd in 1Q08 to over 3.6 mmcfepd in 4Q08 and to over 5.1
mmcfepd in 4Q09. We estimate that EPS will turn positive in 4Q08 and
the company will be capable of internally funding a modest drilling
program by late 2009. Note that there is still significant uncertainty
surrounding these estimates with regards to well production rates and
timing of drilling wells. We expect the company will also grapple with
limited gathering and processing capacity and curtailment of some
production from new wells at least through the end of 3Q08.
• AEZ also has a meaningful interest in the Krejci Project in the Powder
River Basin in Wyoming, and the Goliath Project in the Williston Basin in
North Dakota, where the company holds a sizeable acreage position. The
Krejci acreage is located within an area identified in a recent study by the
USGS where geologists estimate a potential 3.6 billion barrels of
recoverable oil from the Bakken Shale formation. Although a well drilled
in the Bakken on AEZ's acreage was deemed non commercial, advances in
well completion technology successfully applied to other Bakken wells in
the Williston Basin hold promise for this area. Wells drilled in the Krejci
area have encountered oil but results to date have been inconsistent.
Likewise, advances in well completion technology hold promise for this
area. Brigham Exploration, operator for Krejci, is currently applying some
of the latest well completion techniques to the Mowry Shale at Krejci and
we expect the company to release test results in the next few weeks.

wonderful chart and 18 slides research file (please read & download):