updated 12/16/2010 9:16:23 AM ET 2010-12-16T14:16:23

HOUSTON and KEMAH, Texas, Dec. 16, 2010 (GLOBE NEWSWIRE) -- Scott Gaille, President of Brenham Oil & Gas Corp. ("BOG" or the "Company"), today announced an update on the status of BOG's registration statement filed with the U.S Securities and Exchange Commission ("SEC") on September 21, 2010 for the spin-off dividend distribution to shareholders of BOG's parent, American International Industries, Inc. (OTCBB:AMIN) (OTCQB:AMIN) ("AMIN"). The Company expects to file an amended registration statement with the SEC by the end of December 2010. The registration statement provides for, among other things, the registration of 10,297,019 BOG shares issued to AMIN's shareholders for public resale. When the amended registration statement is declared effective by the SEC, BOG will become a separate public company and following the effective date of the registration statement, BOG shall become a reporting company under the Securities Exchange Act. BOG plans to have its shares of common stock subject to quotation on the OTCBB.

BOG continues to evaluate the technical and economic merits of various oil and gas investments in Texas and the acquisition of oil and gas portfolio assets in international locations, initially focusing in Africa. As part of its business plan, BOG intends to add additional personnel to its experienced technical and management team during the first quarter of 2011 to further support its plan. BOG, based in Houston, Texas, the energy capital of the world, has a technical and management team with connections in the oil and gas sector and believes that it has available for acquisition many potential oil and gas prospects in both North America and international locations, including Africa. 

Investors can now view real time stock quotes for AMIN with market depth (Level 2) at www.otcmarkets.com/stock/AMIN/quote

American International Industries, Inc. is a diversified holding company, with a business model similar to General Electric, Tyco International, and Berkshire Hathaway. The Company has holdings in Industry, Finance and Oil & Gas, and has a significant Real Estate portfolio, all in Houston, TX and its surrounding areas. The vision of the Company is to further develop holdings in its core industries and plans to expand its interests in the energy sector through acquisition of existing companies, applying the financial resources and management expertise to foster the growth and profitability of the acquired businesses. The holding company serves as a financial and professional partner to the management of the subsidiaries. The role of the holding company is to improve each subsidiary's access to capital, achieve economies of scale by consolidating administrative functions, and utilize the financial and management expertise of corporate personnel across all units. The Company is continuing to work with management of the subsidiary companies to improve revenues, operations and profitability.

Forward-Looking Statements:

This press release may contain forward-looking statements, including information about management's view of the Company's future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Factors that could cause actual results to differ materially from those that we may anticipate in each of our segments reflected by our subsidiaries' operations include, among others: continued value of our real estate portfolio; the strength of the real estate market in Houston, Texas as a whole; the ability to expand its interests in the energy sector; increased levels of competition; the dependence upon financing, the rules of regulatory authorities and risks associated with any potential acquisitions. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of the Company, its divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents the Company files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on the Company's future results. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company.

CONTACT:  American International Industries, Inc.
          Investor Relations:
          Rebekah Ruthstrom

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