Venture Research LLC Updates Valuation of American Energy Group Ltd (OTC: AEGG) for Drilling Plan and Reserve Study and Confirms $8 Price Target
Posted on: Monday, 31 October 2005, 12:01 CST
American Energy Group. Ltd (OTC: AEGG) announced their drilling plan and release date of a new reserve study of their Yassin Block in Central Pakistan last week. "These near term catalysts provide the visibility investors want" said Clay Mahaffey, CFA President of Venture Research LLC. "This is an unusual situation where you find a company with extremely valuable resources but has been grossly overlooked in the market place" he went on to add. "They are putting the pieces together step by step to build a company that has very substantial income generating potential."
The last reserve study on this Block was done in 1998 and indicated at least 2.6 trillion cubic feet of recoverable gas. Since then a successful exploratory well, the Haseeb No 1, was completed in June 2005 and additional seismic is provided.
Recent price performance of AEGG has exceeded that of the MicroCap Energy Index tm, which is an adjusted market cap weighted index of the leading oil and gas companies with market capitalization under $300 million. www.microcapenergy.com "We will fill the gap in this sector and capitalization by providing high quality equity research not otherwise available" said Mahaffey.
Information, opinions or recommendations contained in this report are submitted solely for advisory and information purposes. The information used and statements of fact made have been obtained from sources considered reliable but we neither guarantee nor represent their completeness or accuracy. Such information and opinions expressed are subject to change without notice. This report is not an offering or solicitation of an offering to buy or sell the securities mentioned or discussed.
Venture Research, LLC agreed to provide 12 months of research coverage on the American Energy Group, Ltd Company (AEGG.OB OTC Bulletin Board) for the period from March 15, 2005 to March 15, 2006 and has been compensated by the issuer with $7,500 cash and 17,620 common shares. This disclosure is made in compliance with SEC Rule 17b of the Securities Act of 1933. Venture Research, LLC is an independent research and financial consulting firm based in Stamford, CT and New York City. www.claymahaffey.com
For additional information contact Clay Mahaffey, CFA at 203-355-0500
Source: Business Wire
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