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All American Oil & Gas Incorporated Files for Chapter 11 Bankruptcy

Wednesday November 21st, 2018

SAN ANTONIO, TX – November 12, 2018 – All American Oil & Gas Incorporated (“All American”) announced today that, due to an ongoing dispute with its secured lenders, All American and its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (“Bankruptcy Code”) in the United States Bankruptcy Court for the Western District of Texas
(“Bankruptcy Court”). During the bankruptcy process, All American and its subsidiaries will continue to operate in the normal course of business under the oversight of the Bankruptcy Court. All American projects that it will have adequate cash flow from operations to fund its continued operations during the bankruptcy process. For more information about the bankruptcy cases please
visit www.bmcgroup.com/AAOG and on the secure investor portal.

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About All American Oil & Gas Incorporated

All American Oil & Gas Incorporated, through its subsidiary Kern River Holdings Inc., is the largest private oil and gas producer in the Kern River Oil Field. Founded in 2004, All American has grown production to over 2,000 barrels of oil a day at its peak through their low cost enhanced oil recovery steam flood program. All American, through its subsidiary Western Power & Steam, Inc., also
operates a 20-megawatt cogeneration facility located adjacent to Kern River Holdings Inc.

Additional information on All American is available at www.aaoginc.com.

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