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American Eagle Energy Inc. (AMZG) Updates Oil and Gas Operations in North America

|Includes: American Eagle Energy, Inc. (AMZG)

American Eagle Energy Inc. issued an update to the investment community on its oil and gas operations in the United States and Canada, where the company is currently focused on exploring and developing properties in the Williston Basin.

American Eagle Energy Inc. reported that the Hardy 7-9 well has restarted production after the company completed repairs at the site. The well is located in the Hardy Field in Saskatchewan, Canada and is currently producing 40 barrels of oil per day.

American Eagle Energy Inc. plans to drill an offset well targeting the Bakken formation near the Hardy 7-9 wells and has set a tentative spud date in May 2011.

American Eagle Energy Inc. has properties at the Spyglass Project in Divide County, North Dakota, where the company is involved on both an operated and non operated basis. The company owns a 3.125% working interest in a well drilled by SM Energy (NYSE:SM), and expects to participate in three other wells drilled by that company in 2011.

American Eagle Energy Inc. is working on obtaining the necessary permits to drill its own operated wells at the Spyglass Project. Once the approvals are secured, the company plans to drill two operated wells on its 8,600 acre leasehold during 2011.

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