X0202 4 2007-11-08 0 0001120916 AMERICAN OIL & GAS INC AEZ 0001215741 CALERICH ANDREW P 1050 17TH STREET, SUITE 2400 DENVER CO 80265 1 1 0 0 President Common Stock 2007-11-08 4 S 0 5000 7.14 D 914950 D Option Right to Buy 3.66 Common Stock 500000 500000 D The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 25, 2006. The option vests in six equal annual installments beginning on April 21, 2005. Each portion of the option expires and terminates on the fifth anniversary of the date it first became exercisable. /s/ Andrew P. Calerich 2007-11-09