ORLANDO, Fla., Aug. 18, 2008 (GLOBE NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., announced that it has issued a research update on American Energy Group Ltd. (OTCBB:AEGG), a non-operating oil and gas company with an 18% overriding royalty interest on the Yasin Block in South-Central Pakistan.
Clay Mahaffey, CFA, RedChip Research Analyst, reported:
"AEGG has the tremendous upside of drilling activities in Pakistan without the downside risk of an exploration budget. After some frustrating delays, the Company is now positioned to benefit from an exploratory well that may be drilled in the next few months and could be very large, making this a timely investment for risk-oriented investors."
Mr. Mahaffey continued in the report:
"Without a doubt, AEGG has had some setbacks and delays; however, astute investors will also consider not only why that happened but also the following situation: the massive reserves are still there, political issues are minor in the big picture, Pakistan is deregulating oil and gas prices and is anxious for domestic supply growth, Hycarbex has identified a well site that is truly a potential company maker, Hycarbex has an excellent 50% success rate with exploratory wells, which far exceeds the national average, and there is a clear path to achieve the key catalysts. We reiterate our $4.00 price target, and, at the currently depressed price, AEGG stock presents a very attractive risk/reward profile."
To access a complimentary copy of the RedChip Visibility research update for AEGG, please visit: http://www.redchip.com/visibility/about.asp?page=vreport&reportid=131&from=08182008pr
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Disclosure
None of the profiles issued by RedChip Companies, Inc., constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. American Energy Group Ltd. paid RedChip Visibility $36,000 for twelve months of the RedChip Visibility Research Program services, which includes the preparation of this equity research report. RedChip Companies, Inc., employees and affiliates may have positions and affect transactions in the securities or options of the issuers mentioned herein. To the fullest extent permissible under applicable law, RedChip Companies, Inc., will not be liable to you or anyone else for the quality, accuracy, completeness, reliability, or timeliness of this information.