Converse County, Wyoming
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American Oil and Gas along with Tower Colombia
Corporation and North Finn, LLC, has signed a letter of intent to
enter into an option agreement which will allow American to earn a 50%
interest in approximately 90,000 gross undeveloped leasehold acres in Converse
County, Wyoming. Tower and North Finn will earn the remaining 50% interest.
The option allows earning of the interests through a series of cash payments
and drilling commitments. Subject to due diligence, the Company expects to
sign a formal purchase and sale agreement on or before June 1, 2004.
The Company has identified multiple exploration opportunities within the
identified acreage block.