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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): January 16, 2009 (January 14, 2009) </B>

<P align="center">

<P align="center" style="font-size: 24pt"><B>AMERICAN OIL &amp; GAS INC.<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
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    <TD style="border-bottom: 1px solid #000000"><B>Nevada</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>1-31900</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>88-0451554</B></TD>
</TR>
<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>1050 17th Street, Suite 2400 Denver, CO<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>80265</B></TD>
</TR>
<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(303) 991-0173</B>


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    <TD nowrap style="border-bottom: 1px solid #000000"><B>N/A<BR></B></TD>
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    <TD nowrap>(Former name or former address if changed since last report.)</TD>
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<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Item&nbsp;3.02. Unregistered Sales of Equity Securities</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">On January&nbsp;14, 2008, American Oil &#038; Gas, Inc (the &#147;Company&#148;) granted an aggregate of 427,500 shares
of restricted common stock (the &#147;Restricted Shares&#148;) pursuant to the 2006 Stock Incentive Plan to
certain employees, officers and directors of the Company.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">30,000 of the Restricted Shares were issued to each of C. Scott Hobbs, Nick DeMare and Jon R.
Whitney as non-officer, director compensation. Messrs.&nbsp;Hobbs, DeMare and Whitney, are not
permitted to transfer two-thirds&#146; of their respective 30,000 Restricted Shares until they are no
longer a member of the board.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">An aggregate of 337,500 of the Restricted Shares were granted to certain employees and officers of
the Company as compensation for services. These Restricted Shares do not vest until the earlier of
January&nbsp;14, 2014 or a change of control of the Company.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">To the extent applicable, the contents of Item&nbsp;5.02 below are incorporated into this Item&nbsp;3.02 by
reference.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">These issuances were granted based on exemptions from registration under the Securities Act of
1933, as amended (the &#147;Securities Act&#148;), pursuant to Section&nbsp;4(2) of the Securities Act and Rule
506 of Regulation&nbsp;D and applicable state laws. These issuances qualified for this exemption from
registration because (i)&nbsp;the Company did not engage in any general solicitation or advertising to
market the securities; (ii)&nbsp;the securities were issued to a person with knowledge and experience in
financial and business matters so that he is capable of evaluating the merits and risks of an
investment in the Company; and (iii)&nbsp;the grantees received &#147;restricted securities.&#148;
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Item&nbsp;5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of
Principal Officers; Compensatory Arrangement of Certain Officers.</B>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">On January&nbsp;14, 2008, the Board of Directors of the Company authorized the following salary
increases, bonus amounts, and restricted stock awards to the named executive officers of the
Company:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
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<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Restricted Stock</TD>
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<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">2008 Salary</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">2009 Salary</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">2009 Bonus</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Award</TD>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Andrew Calerich (1)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">180,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">207,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">50,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">90,000 shares</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Joseph B. Feiten (2)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">170,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">205,700</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">50,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Patrick D. O&#146;Brien (3)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">95,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">142,500</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">50,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">82,500 shares</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Don Schroeder (4)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">150,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">180,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">50,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Peter Loeffler (5)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">165,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">204,600</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">$</TD>
    <TD align="right" valign="top">50,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;</TD>
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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
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    <TD width="96">&nbsp;</TD>
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<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Mr.&nbsp;Calerich is President and a director of the Company.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Mr.&nbsp;Feiten is Chief Financial Officer for the Company.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Mr.&nbsp;O&#146;Brien is Chief Executive Officer and Chairman of the Board of the Company.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(4)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Mr.&nbsp;Schroeder is Vice President of Land for the Company.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(5)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Mr.&nbsp;Loeffler is Vice President of Exploration &#038; Development for the Company.</DIV></TD>
</TR>

</TABLE>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
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<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Item&nbsp;7.01. </B><U><B>Regulation&nbsp;FD Disclosure</B></U><B>.</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">On January&nbsp;16, 2009, American Oil &#038; Gas Inc., a Nevada corporation, issued a press release entitled &#147;American Oil &#038; Gas Announces Strong Initial Production From Its Sims 7-25 Well at Fetter.&#148;<FONT style="font-variant: SMALL-CAPS">
</FONT>A copy of the press release is furnished herewith as Exhibit&nbsp;99.1.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">In accordance with General Instruction B.2 of Form 8-K, the information disclosed in Item&nbsp;7.01 of,
and Exhibit&nbsp;99.1 attached to, this Current Report on Form 8-K shall not be deemed &#147;filed&#148; for the
purpose of Section&nbsp;18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated
by reference in any filing. This Current Report on Form 8-K does not constitute a determination of
whether any information included herein is material.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Item&nbsp;9.01. </B><U><B>Financial Statements and Exhibits</B></U><B>.</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Exhibit&nbsp;99.1 Press Release dated January&nbsp;16, 2009.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">SIGNATURE
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">Date:  January 16, 2009&nbsp;</TD>
    <TD colspan="3" align="left">AMERICAN OIL &#038; GAS INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Andrew P. Calerich
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Andrew P. Calerich, President&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>INDEX TO EXHIBITS</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="77%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Exhibit Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>


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<TR valign="bottom">
    <TD align="left" valign="top">Exhibit&nbsp;99.1
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Press Release dated January&nbsp;16, 2009</DIV></TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
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{"company-data": {"conformed-name": "AMERICAN OIL & GAS INC", "cik": "0001120916", "assigned-sic": "1311", "irs-number": "880451554", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-31900", "film-number": "09532426"}, "business-address": {"street1": "1050 17TH STREET", "street2": "SUITE 1850", "city": "DENVER", "state": "CO", "zip": "80265", "phone": "3039910173"}, "mail-address": {"street1": "1050 17TH STREET", "street2": "SUITE 1850", "city": "DENVER", "state": "CO", "zip": "80265"}, "former-company": {"former-conformed-name": "DRGOODTEETH COM", "date-changed": "20000906"}}
Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 16, 2009 (January 14, 2009)
AMERICAN OIL & GAS INC.
(Exact name of registrant as specified in its charter)
Nevada
1-31900
88-0451554
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
1050 17th Street, Suite 2400 Denver, CO
80265
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(303) 991-0173
N/A
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 3.02. Unregistered Sales of Equity Securities
On January 14, 2008, American Oil & Gas, Inc (the "Company") granted an aggregate of 427,500 shares
of restricted common stock (the "Restricted Shares") pursuant to the 2006 Stock Incentive Plan to
certain employees, officers and directors of the Company.
30,000 of the Restricted Shares were issued to each of C. Scott Hobbs, Nick DeMare and Jon R.
Whitney as non-officer, director compensation. Messrs. Hobbs, DeMare and Whitney, are not
permitted to transfer two-thirds' of their respective 30,000 Restricted Shares until they are no
longer a member of the board.
An aggregate of 337,500 of the Restricted Shares were granted to certain employees and officers of
the Company as compensation for services. These Restricted Shares do not vest until the earlier of
January 14, 2014 or a change of control of the Company.
To the extent applicable, the contents of Item 5.02 below are incorporated into this Item 3.02 by
reference.
These issuances were granted based on exemptions from registration under the Securities Act of
1933, as amended (the "Securities Act"), pursuant to Section 4(2) of the Securities Act and Rule
506 of Regulation D and applicable state laws. These issuances qualified for this exemption from
registration because (i) the Company did not engage in any general solicitation or advertising to
market the securities; (ii) the securities were issued to a person with knowledge and experience in
financial and business matters so that he is capable of evaluating the merits and risks of an
investment in the Company; and (iii) the grantees received "restricted securities."
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of
Principal Officers; Compensatory Arrangement of Certain Officers.
On January 14, 2008, the Board of Directors of the Company authorized the following salary
increases, bonus amounts, and restricted stock awards to the named executive officers of the
Company:
Restricted Stock
2008 Salary
2009 Salary
2009 Bonus
Award
Andrew Calerich (1)
$
180,000
$
207,000
$
50,000
90,000 shares
Joseph B. Feiten (2)
$
170,000
$
205,700
$
50,000
—
Patrick D. O'Brien (3)
$
95,000
$
142,500
$
50,000
82,500 shares
Don Schroeder (4)
$
150,000
$
180,000
$
50,000
—
Peter Loeffler (5)
$
165,000
$
204,600
$
50,000
—
(1)
Mr. Calerich is President and a director of the Company.
(2)
Mr. Feiten is Chief Financial Officer for the Company.
(3)
Mr. O'Brien is Chief Executive Officer and Chairman of the Board of the Company.
(4)
Mr. Schroeder is Vice President of Land for the Company.
(5)
Mr. Loeffler is Vice President of Exploration & Development for the Company.
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Item 7.01.
Regulation FD Disclosure
.
On January 16, 2009, American Oil & Gas Inc., a Nevada corporation, issued a press release entitled "American Oil & Gas Announces Strong Initial Production From Its Sims 7-25 Well at Fetter."
A copy of the press release is furnished herewith as Exhibit 99.1.
In accordance with General Instruction B.2 of Form 8-K, the information disclosed in Item 7.01 of,
and Exhibit 99.1 attached to, this Current Report on Form 8-K shall not be deemed "filed" for the
purpose of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated
by reference in any filing. This Current Report on Form 8-K does not constitute a determination of
whether any information included herein is material.
Item 9.01.
Financial Statements and Exhibits
.
Exhibit 99.1 Press Release dated January 16, 2009.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:  January 16, 2009
AMERICAN OIL & GAS INC.
By:
/s/ Andrew P. Calerich
Andrew P. Calerich, President
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INDEX TO EXHIBITS
Exhibit Number
Description
Exhibit 99.1
Press Release dated January 16, 2009
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