American Energy Announces Status of Pakistan Drilling.HOUSTON--(BUSINESS WIRE)--March 17, 1999--The American Energy Group, Ltd. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:AMEL) announced today that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Hycarbex-American Energy Inc., after commencing drilling operations on the David No. 1 well on its Jacobabad Concession in Pakistan, encountered downhole and mechanical conditions short of the target depth which made it necessary to plug the original wellbore and to move the drillsite. Company management indicated that such conditions are not unusual in exploratory drilling of this nature. The replacement well, the David No. 1-A, will be drilled approximately 160 feet from the original location. OGDCL OGDCL Oil and Gas Development Company Limited (Pakistan) (Oil and Gas Development Company, Ltd.), the drilling contractor for the original well, will be the drilling contractor for this well. Repositioning repositioning Laparoscopic surgery The changing of a Pt's position during a procedure to improve access or visualization of the operative field, which may be linked to complications, as it changes anatomic planes of operation. Cf Laparoscopic surgery. of the drilling equipment necessitated minor modifications to the drillsite. Mobilization is expected to be completed and drilling operations commenced by the last week of March. The American Energy Group, Ltd. is an independent oil and gas exploration, drilling and production company based in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the , involved with both domestic and international exploration projects. Certain matters described in this report are forward-looking statements and are subject to risks and uncertainties that could cause actual results to differ materially from those projected. |
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