American Energy Group, Ltd. Announces Results of Haseeb Gas Field Independent Reserve Study

The independent third party reserve study is titled "Volumetric Reserve Evaluation and Third Party Certification Haseeb Gas Field Yasin Block (2768-7)" and is authored by GSM, Inc. of Amarillo, Texas, USA and its Pakistan associate, Integrated Petroleum Consultants (Pvt.) Limited ("IPC"). The study provides a third party assessment, evaluation and certification of the geological and reservoir engineering work performed in Pakistan by IPC. The study provides estimates of proved, probable and possible total gas reserves in place in the Sui Main Limestone geologic formation and estimates of the proved, probable and possible ultimate recoverable gas reserves from the formation. The study concludes that the Haseeb Gas Field contains proved, recoverable gas reserves of 174 BSCF (i.e. Billion Standard Cubic Feet) using World Petroleum Congress reserve classifications. The summary within the report of all proved, probable and possible reserves is as follows:

Sui Main Limestone P-90 P-50 P-10 Total Gas in Place BSCF 217 230 261 Recoverable Gas BSCF 174 177 196

Commenting on the reserve study, Pierce Onthank, President and CEO of American Energy stated: "We are very pleased that the recently released report contains engineered recoverable reserve estimates which are actually higher than the preliminary reserve estimates originally made by the Pakistan Government after the completion of the Haseeb #1 Well. We believe this will enhance the likelihood that multiple wells will be drilled on the structure by Hycarbex."

The United States Securities and Exchange Commission ("SEC") permits oil and gas companies to disclose in their filings with the SEC only "proved" reserves that the company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. Disclosure in SEC filings of other categories of reserves is prohibited. American Energy uses in this release the terms "probable" reserves and "possible" reserves. Probable reserves are unproved reserves which are more likely than not to be recoverable. Possible reserves are unproved reserves which are less likely to be recoverable than probable reserves. Estimates of probable and possible reserves which potentially may be recoverable through additional drilling or recovery techniques are by their nature more uncertain than estimates of proved reserves and thus are subject to substantially greater risk of not being realized by the exploration company.

This news release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, or performance and underlying assumptions and other statements, including potential production rates and potential reserves, which estimates are unproven and not based upon actual production data or historical facts. These statements are subject to uncertainties and risks including, but not limited to, economic conditions, the impact of competition and pricing, actual operating conditions, the outcome of future drilling activity, estimates of production decline rates for existing wells and commodity price fluctuations, 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.

SOURCE: American Energy Group, Ltd.

American Energy Group, Ltd. Pierce Onthank, 203-222-7315 President and CEO mail@aegg.net