During the quarter ended March 31, 2008, American Oil & Gas recorded $507,804 in revenues from the sale of oil and natural gas. In that period, the company had $247,831 in oil revenues from selling 3,028 barrels of oil at an average price of $81.84 per barrel, and the company had $259,973 in gas revenue from selling 29,216 million cubic feet (mcf) of natural gas at an average price of $8.90 per mcf.
During the first quarter of 2007, American Oil & Gas recorded $395,500 in oil and gas revenues. In that period, the company had $222,729 in oil revenues from selling 4,334 barrels of oil at an average price of $51.39 per barrel, and the company had $172,771 in gas revenue from selling 27,020mcf of natural gas at an average price of $6.39 per mcf.
For the quarters ended March 31, 2008 and March 31, 2007, the company’s general and administrative expenses were $1.39 million and $1.13 million, respectively.
