American International Petroleum Corporation (fka AIPN)

[Begesh]

Mike Dodge told me last week AIPN hopes to be refining under the terms of the new
contract, with a "recognizable, world class, diversified, energy company,
this month."

He also said that the total refinery contract is a "multiple year contract" which
encompasses what he called "a handful of contracts" and that the deal is a
substantially larger deal than the one with Sargeant." I think he meant
"substantially larger" than the 150 million/year that was projected in the
Sargeant deal, but I can't be sure because I did not ask him specifically.

This contract is "very far along," and "close to consummation," as well as
"significant for business." It is an "extensive" contract and he and others
at AIPN "thought that it would have been done weeks ago." He expects the
contract to be signed "ASAP," and he is "certainly positive" about the
outcome of the upcoming refinery deal. He did also mention that the deal is
not done until both parties sign off.

AIPN has been "looking at conventional financing" to deal with the dilution
problems/debenture holders and I got the impression that some or even much
of the work on this may be done and just waiting on the signed refinery
contract to take to the bank.

There has been more "constructive communication with Gazprom"
concerning the 1551 gas deal and Knight will go to Kaz. "as quickly as
possible" once the refinery deal is completed. I got the impression that
1551 may be further along than many expect.

Mike also said that there are "various entities working on 953."

He is also "very optimistic about the forthcoming year."

It sounds to me like the next couple of weeks could be interesting for AIPN, if what Mike is
saying is true, and the next couple of months even more so.

Time will tell... and hopefully we will not be disappointed as in the past.

All the above is to the best of my recollection.