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The American Energy Group, Ltd. (OTC.BB: AEGG) announced today that Hycarbex-American Energy, Inc. (“Hycarbex”) has been notified by the Pakistan Ministry of Petroleum and Natural Resources that the provisional gas allocation for the extended well test (EWT) period for the Haseeb #1 Well has been assigned pursuant to Hycarbex’s application dated February 27, 2008. The allocation authorizes the sale of up to 28 million cubic feet of gas per day (MMCFD) to the Sui Southern Gas Company. The American Energy Group, Ltd. owns an 18% gross royalty in the Yasin Block (2768-7) Concession, including the Haseeb # 1 Well. The working interest is co-owned by Hycarbex (85%), Hypak Asia (Pvt) Ltd. (10%) and Government Holdings (Pvt) Limited (5%).
This news release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, or performance and underlying assumptions and other statements, including potential production rates and potential reserves, which estimates are unproven and not based upon actual production data or historical facts. These statements are subject to uncertainties and risks including, but not limited to, economic conditions, the impact of competition and pricing, actual operating conditions, the outcome of future drilling activity, estimates of production decline rates for existing wells and commodity price fluctuations, and domestic and foreign government regulation and approvals. All such forward-looking statements, fake oakley sunglasses, oakley replica sunglasses, and whether made by, or on behalf of the Company are expressly qualified by the cautionary statements and any other cautionary statements which accompany the forward-looking statements. In addition, the Company disclaims any obligation to update forward-looking statements to reflect events or circumstances after the date hereof.
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