American Energy Group, Ltd. Announces Allocation of Gas for Haseeb #1 Well
The American Energy Group, Ltd. announced today that Hycarbex-American Energy, Inc. (“Hycarbex”) has been notified by the Pakistan Ministry of Petroleum and Natural Resources that the provisional gas allocation for the extended well test (EWT) period for the Haseeb #1 Well has been assigned pursuant to Hycarbex’s application dated February 27, 2008. The allocation authorizes the sale of up to 28 million cubic feet of gas per day (MMCFD) to the Sui Southern Gas Company. The American Energy Group, Ltd. owns an 18% gross royalty in the Yasin Block (2768-7) Concession, including the Haseeb # 1 Well. The working interest is co-owned by Hycarbex (85%), Hypak Asia (Pvt) Ltd. (10%) and Government Holdings (Pvt) Limited (5%).
