Drilling Commences on Hycarbex-American Energy, Inc. Al-Ali No. 1 in Pakistan.WESTPORT, Conn. -- The American Energy Group, Ltd. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). .BB: AEGG) announced today that drilling has commenced on Hycarbex-American Energy, Inc.'s Al-Ali No. 1 well in the Republic of Pakistan Yasin Block (2768-7). The Al-Ali No. 1 Well is located 6 miles North by Northwest of Hycarbex's Haseeb No. 1 Well which Hycarbex successfully completed in 2005. The Al-Ali No. 1 Well will be drilled to an approximate depth of 1,700 meters (5,577 feet) with the primary target expected to be the Sui Main geologic formation A geologic formation is a formally named rock stratum or geological unit. Formations are Lithostratigraphic units which are defined by primary lithology. The concept of formally defined layers or strata is central to the geologic discipline of stratigraphy. . The drilling contractor is Oil & Gas Exploration Company Krakow Limited which commenced the drilling with its Skytop Brewster RP-600 Drilling/Workover Rig. The drilling contractor and equipment are identical to those utilized by Hycarbex in the drilling of its Haseeb No. 1 Well. Hycarbex's technical team views the Al-Ali No. 1 Well as a new exploratory well which will target a geologic structure with four way closure according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the team's analysis of seismic data collected in the area. The American Energy Group, Ltd. owns an 18% gross royalty in the Al-Ali No. 1 well. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, or performance and underlying assumptions and other statements, including opinions of third parties regarding subsurface sub·sur·face adj. Of, relating to, or situated in an area beneath a surface, especially the surface of the earth or of a body of water. Adj. 1. geologic conditions, which estimates, assumptions or opinions are unproven unproven Dubious, nonscientific, not proven, quack, questionable, unscientific adjective Relating to that which has not been validated by reproducible experiments or other scientific methods for determining effect or efficacy . These statements are subject to uncertainties and risks including, but not limited to, economic conditions, the impact of competition and pricing, actual operating conditions and results, and domestic and foreign government regulation and approvals. All such forward-looking statements, whether written or oral, 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 here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . |
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