Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of American Oil & Gas Inc.

Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of American Oil & Gas Inc. (“American Oil & Gas” or the “Company”) (AMEX:AEZ) related to the Company’s agreement to be acquired by Hess Corporation (“Hess”) in a proposed stock-for-stock transaction.

Under the terms of the merger agreement entered into by the parties, Hess has agreed to issue 0.1373 shares of its common stock in exchange for each outstanding share of American Oil & Gas common stock. The agreement provides for a possible cash dividend to American Oil & Gas’ stockholders to the extent of the Company’s positive working capital as of the closing date – subject to certain adjustments described in the merger agreement – and subject to available cash. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by the board of directors of American Oil & Gas.

If you own shares of American Oil & Gas, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.