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Last Updated : 14 May 2009 at 23:50 IST

American Oil stock rise but Q1 falls

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Commodity Online
American Oil & Gas Inc. (AMEX:AEZ) has announced its Q1 2009 results with net-loss of $3.89 million or $0.08/share from $1.32 million or $0.03/share in Q1 2008.

American Oil & Gas Inc. is an independent oil and gas exploration and production company, engaged in acquiring oil and gas mineral leases and the exploration and development of crude oil and natural gas.

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Revenues from the sale of oil and natural gas decreased to $305,674 for Q1 2009 from $507,804 for Q1 2008 whereas operating expenses stood at $299,675 for Q1 2009 against $254,775 for Q1 2008.

Analysts estimate an average target price of 5 and recommend to ‘Hold’ the stock. AEZ however gained 6.9% at AMEX on Wednesday and was last traded at 0.93. It touched a 52-week high of 5 and low of 0.5.