One of the most interesting things that nature does is place the most remarkable items where they seem least likely to be found. Medications in the deepest jungle of the Amazon, or large waterfalls deep underground don’t seem like they should be found in those locations, but they are. Looking for new areas of investment can often follow the same unexpected formula. If an investor looks for a solid investment in a place where they might not ordinarily look, investors may find a way to profit.
American Energy Group Ltd., a Connecticut-based developmental oil and gas exploration company, works to develop and exploit oil and gas deposits primarily in Pakistan. The company currently has ongoing construction and development plans at two sites within the country.
Although one might not consider Pakistan as a primary supplier of oil and gas, it does hold solid potential for domestic oil and gas production and consumption. The company has made solid progress in developing its Haseeb #1 gas well with public bidding let for the site’s treatment facilities. Ultimately, this well will provide revenue when final connections are made to the southern Sui pipeline. This particular project is nearing its completion phase but is, at last report, awaiting approvals from the newly elected and appointed officials of the Ministry of Petroleum and Natural Resources. Latest reports indicate a delay in the appointment of this Ministries director.
The company is concurrently beginning the drilling process at its Haseeb #1 oil well project. Located at its Yasin holdings site, the company owns a 15% royalty stake and has hopes for a solid find at that location. Preliminary testing has shown two reservoirs of oil located vertically under the Yasin #1 well. The reservoirs are configured to 9 and 21.5 square miles respectively. Although there have been some delays commencing drilling at this site due to maintenance and scheduling issues with a contracted drilling rig, there are hopes for drilling to commence in the fourth quarter.
As world consumption of oil continues to look for a price base, many countries are increasingly turning to domestic production and consumption. American Energy has taken the path less traveled and is ready to capitalize on a Pakistani industrial base entering the world economy. Working through the difficulties associated with that emergence is the only task that needs to be overcome, and American Energy is up to the task.
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