HOUSTON and KEMAH, Texas, March 22, 2012 (GLOBE NEWSWIRE) -- Brenham Oil & Gas Corp., (OTCBB:BRHM) ("Brenham"), a subsidiary of American International Industries, Inc., (OTCBB:AMIN) ("American"), announced that it received and accepted a letter of award from the Government of Equatorial Guinea in West Africa for a 15% participating interest in four offshore exploration blocks. This area of Equatorial Guinea's waters was highlighted last year by Brenham's exploration geologist, Rog Hardy, as part of the Company's ongoing review of seismic and well data in Sub-Saharan Africa.
Mr. Hardy, Brenham's Vice President, stated, "These four blocks are in between and along geologic trend with a large producing oil and gas field complex with peak production of more than 80,000 barrels of oil per day and an undeveloped oil discovery. The blocks awarded to Brenham total more than 500,000 acres. We are very excited about the exploration potential of these blocks."
Scott Gaille, Brenham's President, stated, "Brenham looks forward to working with the Government of Equatorial Guinea and the other companies awarded interests in the blocks. The next step will be for the consortium of winning companies to finalize the commercial terms with the Government in a Production Sharing Contract."
For more information regarding Brenham please visit its website: http://www.brenhamoil.com/
Brenham Oil & Gas Corp. is an independent oil and gas company engaged in the acquisition of petroleum resources. The Company's focus is on coupling United States development/production assets with international exploration in locations such as Sub-Saharan Africa. Brenham's management team includes experienced professionals from major oil and gas companies.
Forward-Looking Statements:
This press release may contain forward-looking statements, including information about management's view of the Company's future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the "Act"). All statements other than statements of historical information provided herein may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "expects" and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those that we may anticipate reflected by our subsidiaries' operations include without limitations, growth in the energy sector and in the oil and gas service industry, increased levels of competition, new products and technology changes, and the market for pipes, the rules of regulatory authorities and risks associated with any potential acquisitions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis, judgment, belief or expectation only as of the date hereof. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company.