American O&G Successfully Drills, Cases Viall #30-1 on Goliath



American Oil & Gas, Inc. announced that the Viall #30-1 well at American's Goliath project, has been successfully drilled and cased to its planned total depth of 14,430'. Log analysis indicates potential productive pay in four separate zones within the Red River formation and in the deeper Winnipeg formation. The Viall well was drilled on a prospect identified by a 3D seismic program that is located approximately 2.5 miles northwest of the successful Solberg 32-2 well. American owns a 34.34% working interest and a 27.47% net revenue interest in this well. Completion is tentatively scheduled for the first quarter of 2009.

Within American's Fetter project, the vertically drilled Sims 7-25 well, the most recent well in the drilling program there, has been successfully drilled and cased to its planned total depth of 11,958'. This well was drilled and cased in 19 days for less than $2 million, a substantial improvement over the time required to drill prior wells. This well is designed to be initially completed in the Frontier formation and may be dual completed in both the Frontier and the Niobrara formations, then simultaneously produced from both. American owns a 69.375% working interest and a 56.04% net revenue interest in the well. Completion is tentatively scheduled for the first quarter of 2009.


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