Hycarbex-American Energy, Inc. Announces Completion of Surface Facility and Updated Schedule for Pipeline Connection

WESTPORT, Conn.--(Business Wire)--
The American Energy Group, Ltd. (OTC.BB: AEGG) announced today that
Hycarbex-American Energy, Inc. ("Hycarbex") has provided a status update as to
the completion of the surface treatment facility and pipeline connection for the
Haseeb #1 Well on Yasin Block (2768-7). The American Energy Group, Ltd. owns an
18% gross royalty in the Yasin Block (2768-7) Concession, including the Haseeb #
1 Well. The working interest is co-owned by Hycarbex (85%), Hypak Asia (Pvt)
Ltd. (10%) and Government Holdings (Pvt) Limited (5%).

Hycarbex previously announced the anticipated completion in October of 2009 of
its surface treatment facility for the Haseeb #1 Well as well as the anticipated
connection to the pipeline for gas sales. The surface treatment facility has
been under construction for the last year by EPS, an affiliate of Specialty
Process Equipment Corporation ("SPEC"), a worldwide specialist in design,
engineering and custom fabrication of processing facilities based in Houston,
Texas, with manufacturing facilities in Houston, Texas, United Arab Emirates and
Pakistan [website: www.spec-pro.com]. Hycarbex has announced that EPS has
completed the surface treatment facility. This state-of-the-art facility
includes a three-phase production separator composed of an amine sweetening
unit, a glycol dehydration unit, a metering skid, a flare system, a sour water
system, a water transfer system, an instrument air system, a fuel gas
conditioning skid, an incinerator package, a heat medium system, a motor control
center with soft starters, a synchronization panel for gensets and a Yokogawa
Distributive Control System for plant control and shut down. The remaining task
to be completed by EPS for Hycarbex is the connection of the Haseeb #1 Well to
Sui Southern Pipeline Company for commencement of gas sales. The pipeline
connection and commencement of gas sales is now expected in December, 2009,
according to Hycarbex, in order to permit delivery of a shipment of amine to EPS
for use in the amine sweetening unit. According to Hycarbex, the shipment of
amine has already departed the United States with a Karachi, Pakistan port
destination. Upon its arrival, the shipment must clear customs and then be
delivered to the surface facility site in order to accommodate the final
pipeline connection.

This news release contains forward-looking statements, including estimated time
lines for future events. 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. Forward-looking statements are
subject to uncertainties and risks including, but not limited to, economic
conditions, drilling risks and actual operating conditions and results,
deviation in costs of critical equipment and services, deviation in production
decline rates, the impact of competition and commodity pricing, and domestic and
foreign governmental regulation and approvals.

The United States Securities and Exchange Commission ("SEC") permits the
disclosure in SEC filings of only "proved reserves" by oil and gas companies.
Proved reserves are reserve estimates that geological and engineering data
demonstrate with reasonable certainty to be recoverable in future years from
known reservoirs under existing economic and operating conditions. The term
"probable reserves" when used by the Company in its disclosures means reserves
which are more likely than not to be recoverable. The term "possible reserves"
when used by the Company in its disclosures means reserves which are less likely
to be recoverable than probable reserves. Estimates of probable reserves and
possible reserves are more uncertain than estimates of proved reserves and thus
are subject to substantially greater risk of not being realized.

All forward-looking statements in this disclosure, whether made by, or on behalf
of the Company or by or on behalf of the project operator, are expressly
qualified by the above 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.

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

Copyright Business Wire 2009