American Energy Production Inc. Announces New Business Strategy as a Diversified Energy Company

Market Wire, December, 2007

American Energy Production Inc. (the "Company") (OTCBB: AENP) announced today a new business strategy as a publicly traded diversified energy company. The Company will focus on the acquisition and management of complementary energy sector assets to create long-term shareholder value within the energy sector to aggregate undervalued assets which can provide significant opportunities for revenue and earnings growth.

The Company's current energy holdings are from the acquiring, developing, producing, exploring and selling of oil and natural gas. The Company traditionally has acquired oil and gas companies that have the potential for increased oil and natural gas production utilizing new technologies, well workovers and fracture stimulation systems. Additionally, the Company has expanded its scope of business to include the drilling of new wells with its own equipment through its wholly-owned subsidiary companies.

"The Company's new initiative as a diversified energy company in the energy sector is consistent with the unwavering commitment to the creation of shareholder value. We are committed to creating shareholder value through the execution of a strategic acquisition and management planning to increase revenues and earnings in the dynamic energy sector," said Charles Bitters, Chief Executive Officer of the Company.

American Energy Production Inc. is a publicly traded oil and gas company that is engaged primarily in the acquiring, developing, producing, exploring and selling of oil and natural gas. The Company will focus on the acquisition and management of complementary energy sector assets to create long-term shareholder value within the energy sector to aggregate undervalued assets which can provide significant opportunities for revenue and earnings growth. The Company traditionally has acquired oil and gas companies that have the potential for increased oil and natural gas production utilizing new technologies, well workovers and fracture stimulation systems. Additional information may be found at its corporate web site, www.americanenergyproduction.com .

Forward-Looking Statements

Certain statements in this announcement and inferences derived therefrom may be regarded as "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the opinions and estimates of management at the time the statements are made. Management's current view and plans, however, are subject to numerous known and unknown risks, uncertainties and other factors that may cause the actual results, performance, timing or achievements of the Company to be materially different from any results, performance, timing or achievements expressed or implied by such forward-looking statements. The various uncertainties, variables, and other risks include those discussed in detail in the Company's SEC filings, including the Annual Report on Form 10-K filed on April 2, 2007. The Company undertakes no duty to update or revise any forward-looking statements. Actual results may vary materially.

Contact: American Energy Production Inc. Charles Bitters 210-410-8158 http://www.americanenergyproduction.com or Oil America Group Inc. Joe Christopher 972-386-0601 jchristopher@oilamericagroup.com