Hycarbex-American Energy Drills Yasin Block Exploratory Well

The American Energy Group, Ltd. announced today that Hycarbex-American Energy has spudded the Yasin Exploratory Well-1 on Yasin Block (2768-7). The American Energy Group, Ltd. owns an 18% gross royalty in the Yasin Block (2768-7) Concession. The working interest is co-owned by Hycarbex (85%), Hypak Asia (Pvt) Ltd. (10%) and Government Holdings (Pvt) Limited (5%).

As previously announced, the Yasin Exploratory Well-1 is expected to be drilled to a total depth of 1,550 meters (5,085 feet) and to target the Sui Main Limestone at 1,110 meters (3,642 feet) and the deeper Pab Sandstone at 1,550 meters (5,085 feet). The target structure was identified by Hycarbex using seismic results which were completed in December 2007. According to Hycarbex, the seismic analysis indicates that an identified Sui Main Limestone reservoir has an indicated estimated closure of 23.4 square kilometers (9 square miles) and vertical relief of 40 msec., and an indicated Pab Sandstone reservoir has an estimated closure of 21.49 square kilometers (8.3 square miles) and vertical relief of 30 msec.


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