Company Overview
| Company Name |
AMERICAN OIL & GAS INC. |
| Company Address |
SUITE 400 ? 601 WEST BROADWAY
VANCOUVER V5Z 4C2 |
| Company Phone |
888 609 1173 |
| Company Website |
-- |
| CEO |
Robert Gelfand |
| Employees (as of 5/21/2012) |
1 |
| State of Inc |
NV |
| Fiscal Year End |
1/31 |
| Status |
Filed (3/16/2012) |
| Proposed Symbol |
-- |
| Exchange |
OTCBB |
| Share Price |
$0.01 |
| Shares Offered |
10,000,000 |
| Offer Amount |
$50,000.00 |
| Total Expenses |
$6,000.00 |
| Shares Over Alloted |
-- |
| Shareholder Shares Offered |
-- |
| Shares Outstanding |
10,000,000 |
| Lockup Period (days) |
180 |
| Lockup Expiration |
-- |
| Quiet Period Expiration |
-- |
| CIK |
0001544400 |
Assuming sale of all of the shares offered herein, of which there is no
assurance, the net proceeds from this Offering will be $50,000. The proceeds are
expected to be disbursed, in the priority set forth below, during the first
twelve (12) months after the successful completion of the Offering:
Total Proceeds to the Company $50,000
Purchase of the Bore Hole on Cecil Barlow #1 10,000*
Phase 1 rework program 14,194
Phase 2 monthly maintenance (10 months @387.50) 3,875
Administration and General Expense 5,000
Legal and Accounting 10,000
Working Capital 6,931
Total Use of Net Proceeds $50,000
=======
* The company purchased the Cecil Barlow #1 bore hole on February 2, 2012.
The payment was made from funds loaned to the company by our director. If
we are successful in obtaining the funding from this Offering the $10,000
will be repaid to the director.
We will establish a separate bank account and all proceeds will be deposited
into that account until the total amount of the Offering is received and all
shares are sold, at which time the funds will be released to us for use in
our operations. In the event we do not sell all of the shares before the
expiration date of the Offering, all funds will be returned promptly to the
subscribers, without interest or deduction. If it becomes necessary our
director has verbally agreed to loan the company funds to complete the
registration process, but we will require full funding to implement our
business plan.
We operate in a highly competitive environment for acquiring properties,
modernizing existing wells and marketing oil and natural gas we may produce.
The majority of our competitors possess and employ financial, technical and
personnel resources substantially greater than ours, which can be particularly
important in the areas in which we plan to operate. Those companies may be
able to pay more for productive oil and natural gas properties and exploratory
prospects and to evaluate, bid for and purchase a greater number of properties
and prospects than our financial resources permit. Our ability to acquire
additional prospects and to find and develop reserves in the future will
depend on our ability to evaluate and select suitable properties and to
consummate transactions in a highly competitive environment. Also, there
is substantial competition for capital available for investment in the oil
and natural gas industry.
Current competitive factors in the domestic oil and gas industry are unique.
The actual price range of crude oil is largely established by major
international producers. Pricing for natural gas is more regional;
however, more favorable prices can usually be negotiated for larger
quantities of oil and/or gas product. In this respect, while we believe
we have a price disadvantage when compared to larger producers, we view
our primary pricing risk to be related to a potential decline in
international prices to a level which could render our production
uneconomical.
We will be committed to use the services of the existing gathering
companies in our present area of production. This potentially gives
such gathering companies certain short-term relative monopolistic
powers to set gathering and transportation costs, because obtaining the
services of an alternative gathering company may require substantial
additional costs.
Company Description
American Oil & Gas, Inc. was incorporated in the State of Nevada on January
23, 2012 to engage in the acquisition, exploration and development of oil and
gas properties. We intend to use the net proceeds from this Offering to
develop our business operations. We are an exploration stage company
with no
revenues or operating history.
---
Our business is the location and leasing of existing wells for reactivation
for the production of oil and gas that we will then, through an operator,
sell to oil and gas brokers and gatherers. Reactivating wells involves
locating once producing wells that have been shut-in because the well did
not produce enough oil or gas at the time to be profitable. Due to the
higher price of crude oil and natural gas and utilizing new technology
to increase flow rates these wells can be reworked with the intent of
making production profitable; however there is no guarantee that our well
will be profitable. Our first lease is a one hundred percent interest in
40 acres located in Caddo Parrish, Louisiana. There is currently one drilled
well bore, the Cecil Barlow #1, on the property. We have a report on the
Caddo Parish Louisiana area prepared by a consulting geologist which
outlines the reservoir potential of the Caddo Pine Island Field, in which
our lease exists. We have not yet realized any revenues from the lease and
it may not contain any reserves and funds that we spend on exploration will
be lost.
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The principal executive offices are located at Suite 400 - 601 West Broadway,
Vancouver, BC V5Z 4C2. The telephone number is 888-609-1173.
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