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AMERICAN OIL AND GAS CORPORATION MAKES ANNOUNCEMENT

 HOUSTON, Jan. 11 /PRNewswire/ -- American Oil and Gas Corporation (NYSE: AOG) announced today that its principal operating subsidiary, American Pipeline Company ("APC"), has acquired an additional 50 percent interest in the Red River Pipeline, an intrastate gas pipeline consisting of 372 miles of 24-inch pipe which extends from the Oklahoma- Texas Panhandle border to Waha in Pecos County, Texas. APC now holds a 75 percent interest in Red River and has assumed the duties of operator of the pipeline. The interests were acquired in transactions with USX Corporation and its subsidiary, Delhi Gas Pipeline Corporation, a subsidiary of Arkla, Inc. A subsidiary of ONEOK Inc. holds the remaining 25 percent interest in Red River. APC believes that Red River Pipeline complements its existing West Texas and Panhandle gas pipeline facilities.
 American Oil and Gas Corporation is in the natural gas gathering, processing, transporting and marketing business.
 -0- 1/11/93
 /CONTACT: William P. Conner, senior vice president and chief financial officer of American Oil and Gas Corporation, 713-739-2900/
 (AOG)


CO: American Oil and Gas Corporation ST: Texas IN: OIL SU:

LR -- NY032 -- 3455 01/11/93 10:20 EST
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Publication:PR Newswire
Date:Jan 11, 1993
Words:189
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