UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-Q

[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

    FOR THE QUARTERLY PERIOD ENDED OCTOBER 31, 2012

                        Commission file number 333-180164


                             AMERICAN OIL & GAS INC.
             (Exact name of registrant as specified in its charter)

                                     Nevada
         (State or other jurisdiction of incorporation or organization)

                          Suite 400 - 601 West Broadway
                              Vancouver, BC V5Z 4C2
          (Address of principal executive offices, including zip code)

                                 (888) 609-1173
                     (Telephone number, including area code)

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the last 90 days. YES [X] NO [ ]

Indicate by check mark whether the registrant has submitted electronically and
posted on its corporate Web site, if any, every Interactive Data File required
to be submitted and posted pursuant to Rule 405 of Regulation S-T (ss.232.405 of
this chapter) during the preceding 12 months (or for such shorter period that
the registrant was required to submit and post such files). YES [X] NO [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of "large accelerated filer, "accelerated filer,"
"non-accelerated filer," and "smaller reporting company" in Rule 12b-2 of the
Exchange Act.

Large accelerated filer [ ]                        Accelerated filer [ ]

Non-accelerated filer [ ]                          Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act). YES [ ] NO [X]

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: 10,000,000 shares as of December 26,
2012
<PAGE>
ITEM 1. FINANCIAL STATEMENTS

                             AMERICAN OIL & GAS INC.
                         (An Exploration Stage Company)
                                  Balance Sheet
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                     (Unaudited)            (Audited)
                                                                        As of                 As of
                                                                   October 31, 2012      January 31, 2012
                                                                   ----------------      ----------------
<S>                                                                <C>                    <C>
                                     ASSETS

CURRENT ASSETS
  Cash                                                                $ 10,845               $ 25,000
  Accounts Receivable                                                      285                     --
                                                                      --------               --------
TOTAL CURRENT ASSETS                                                    11,130                 25,000

OIL AND GAS PROPERTY (SUCCESSFUL EFFORTS METHOD)
  Unproven                                                              37,102                     --
  Accumulated Depletion                                                   (928)                    --
                                                                      --------               --------

TOTAL OIL AND GAS PROPERTY                                              36,175                     --
                                                                      --------               --------

      TOTAL ASSETS                                                    $ 47,304               $ 25,000
                                                                      ========               ========

                       LIABILITIES & STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
  Accounts Payable                                                    $  2,740               $    565
  Loan Payable - Related Party                                              --                 15,000
                                                                      --------               --------
TOTAL CURRENT LIABILITIES                                                2,740                 15,565

STOCKHOLDERS' EQUITY
  Common stock, ($0.001 par value, 75,000,000 shares authorized;
   20,000,000 and 10,000,000 shares issued and outstanding
   as of October 31, 2012 and January 31, 2012                          20,000                 10,000
  Additional Paid-In Capital                                            40,000                     --
  Deficit accumulated during exploration stage                         (15,436)                  (565)
                                                                      --------               --------
TOTAL STOCKHOLDERS' EQUITY                                              44,564                  9,435
                                                                      --------               --------

      TOTAL LIABILITIES & STOCKHOLDERS' EQUITY                        $ 47,304               $ 25,000
                                                                      ========               ========
</TABLE>


                        See Notes to Financial Statements

                                       2
<PAGE>
                             AMERICAN OIL & GAS INC.
                         (An Exploration Stage Company)
                             Statement of Operations
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                                                     January 23, 2012
                                                         Three Months           Nine Months            (inception)
                                                            ended                  ended                 through
                                                       October 31, 2012       October 31, 2012       October 31, 2012
                                                       ----------------       ----------------       ----------------
<S>                                                      <C>                    <C>                    <C>
REVENUES
  Oil and Gas                                            $      1,228           $      1,228           $      1,228
                                                         ------------           ------------           ------------
TOTAL REVENUES                                                  1,228                  1,228                  1,228

EXPENSES
  Operating Expenses                                              943                    943                    943
  General and Administration                                    1,792                  7,128                  7,693
  Depletion                                                       928                    928                    928
  Professional Fees                                             1,900                  7,100                  7,100
                                                         ------------           ------------           ------------
TOTAL EXPENSES                                                  5,562                 16,099                 16,664
                                                         ------------           ------------           ------------

NET INCOME (LOSS)                                        $     (4,334)          $    (14,871)          $    (15,436)
                                                         ============           ============           ============

NET LOSS PER BASIC AND DILITED SHARE                     $      (0.00)          $      (0.00)
                                                         ============           ============

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING       20,000,000             14,087,591
                                                         ============           ============
</TABLE>


                        See Notes to Financial Statements

                                       3
<PAGE>
                             AMERICAN OIL & GAS INC.
                         (An Exploration Stage Company)
                             Statement of Cash Flows
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                                      January 23, 2012
                                                                  Nine Months           (inception)
                                                                     ended                through
                                                                October 31, 2012      October 31, 2012
                                                                ----------------      ----------------
<S>                                                             <C>                   <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net income (loss)                                                 $(14,871)             $(15,436)
  Adjustments to reconcile net loss to net cash
   provided by (used in) operating activities:

  Changes in operating assets and liabilities:
    Depletion                                                            928                   928
    Accounts Receivable                                                 (285)                 (285)
    Accounts Payable                                                   2,175                 2,740
                                                                    --------              --------
          NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES        (12,053)              (12,053)

CASH FLOWS FROM INVESTING ACTIVITIES
  Oil and Gas Property                                               (37,102)              (37,102)
                                                                    --------              --------
          NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES        (37,102)              (37,102)

CASH FLOWS FROM FINANCING ACTIVITIES
  Loan Payable - Related Party                                       (15,000)                   --
  Issuance of common stock                                            50,000                60,000
                                                                    --------              --------
          NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES         35,000                60,000
                                                                    --------              --------

NET INCREASE (DECREASE) IN CASH                                      (14,155)               10,845

CASH AT BEGINNING OF PERIOD                                           25,000                    --
                                                                    --------              --------

CASH AT END OF PERIOD                                               $ 10,845              $ 10,845
                                                                    ========              ========

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

Cash paid during year for:
  Interest                                                          $     --              $     --
                                                                    ========              ========

  Income Taxes                                                      $     --              $     --
                                                                    ========              ========
</TABLE>


                        See Notes to Financial Statements

                                       4
<PAGE>
                             AMERICAN OIL & GAS INC.
                         (An Exploration Stage Company)
                          Notes to Financial Statements
                                October 31, 2012
--------------------------------------------------------------------------------

NOTE 1. BASIS OF PRESENTATION

The accompanying  unaudited interim  financial  statements of American Oil & Gas
Inc. (the "Company") have been prepared in accordance with accounting principles
generally  accepted  in the  United  States  of  America  and the  rules  of the
Securities and Exchange  Commission,  and should be read in conjunction with the
audited  financial  statements and notes thereto  contained in the Company's S-1
Registration  Statement  filed  with SEC.  In the  opinion  of  management,  all
adjustments,  consisting of normal recurring  adjustments,  necessary for a fair
presentation of financial position and the results of operations for the interim
periods  presented  have been  reflected  herein.  The results of operations for
interim periods are not necessarily indicative of the results to be expected for
the full year.  Notes to the  financial  statements  which  would  substantially
duplicate  the  disclosure  contained in the audited  financial  statements  for
fiscal 2012 as reported in the S-1 Registration Statement have been omitted.

NOTE 2. GOING CONCERN

As of October  31,  2012,  the  Company has  generated  limited  revenue and has
accumulated  losses since inception.  The continuation of the Company as a going
concern is dependent upon the continued financial support from its shareholders,
its ability to obtain necessary equity financing to continue operations, and the
attainment of profitable  operations.  These  factors  raise  substantial  doubt
regarding the Company's ability to continue as a going concern.

NOTE 3. INVESTMENTS IN OIL AND GAS PROPERTIES

CECIL BARLOW

On July 18,  2012,  the Company  spent  $26,437 to upgrade the well on the Cecil
Barlow lease in Caddo Parish, Louisiana.

NOTE 4. RELATED PARTY TRANSACTIONS

As of October 31, 2012 the funds loaned by Robert Gelfand,  President, have been
repaid in full.

NOTE 5. STOCKHOLDERS' EQUITY

On July 12, 2012, the Company completed its registered  offering raising $50,000
from the sale of 10,000,000 shares of common stock, par value $.001.

As of October 31, 2012 the Company had 20,000,000  shares of common stock issued
and outstanding.

                                       5
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

FORWARD LOOKING STATEMENTS

This section includes a number of forward-looking statements that reflect our
current views with respect to future events and financial performance.
Forward-looking statements are often identified by words like: believe, expect,
estimate, anticipate, intend, project and similar expressions, or words which,
by their nature, refer to future events. You should not place undue certainty on
these forward-looking statements, which apply only as of the date of this
report. These forward-looking states are subject to certain risks and
uncertainties that could cause actual results to differ materially from
historical results or out predictions.

RESULTS OF OPERATIONS

We are still in our exploration stage and have generated no revenues to date.

We incurred operating expenses of $5,562 for the three month period ended
October 31, 2012 with $1,228 in revenues. We incurred operating expenses of
$16,664 for the period from inception (January 23, 2012) through October 31,
2012. These expenses consisted of general operating expenses and professional
fees incurred in connection with the day to day operation of our business and
the preparation and filing of a Registration Statement on Form S-1 with the U.S.
Securities and Exchange Commission.

Our net loss for the three months ended October 31, 2012 was $4,334. Our net
loss for the six months ended October 31, 2012 was $14,871. Our net loss from
inception (January 23, 2012) through October 31, 2012 was $15,436 with $1,228 in
revenues.

We received our initial funding of $10,000 through the sale of common stock to
Robert Gelfand who purchased 10,000,000 shares of our common stock at $0.001 per
share in January, 2012. On July 12, 2012, the Company completed its registered
offering raising $50,000 from the sale of 10,000,000 shares of common stock.

LIQUIDITY AND CAPITAL RESOURCES

We had $10,845 in cash at October 31, 2012, and there were outstanding
liabilities of $2,740. We believe our cash balance along with anticipated
revenues from the reworked well will be sufficient to cover the expenses we will
incur during the next twelve months. We are an exploration stage company and
have generated $1,228 in revenue since inception to October 31, 2012.

PLAN OF OPERATION

Our current cash balance is $10,845. We believe our cash balance along with
anticipated revenues from the reworked well will be sufficient to cover the
expenses we will incur during the next twelve months. In order to achieve our
business plan goals, we will need to continue to realize revenue from our oil &

                                       6
<PAGE>
gas sales. We are an exploration stage company and have generated $1,228 revenue
to date. We have sold $60,000 in equity securities to pay for our start-up
operations.

Our auditor has issued a going concern opinion. This means that there is
substantial doubt that we can continue as an on-going business for the next
twelve months unless we generate sufficient revenues from our oil & gas sales.
There is no assurance we will ever reach that point. In the meantime the
continuation of the Company is dependent upon the continued financial support
from our shareholders, our ability to obtain necessary equity financing to
continue operations and the attainment of profitable operations.

During the quarter ended July 31, 2012 we spent $10,000 for the purchase of the
Cecil Barlow #1 bore hole and $27,102 to complete the re-work and production
program.

Our plan of operation for the next twelve months is to continue production on
the current lease while also searching for other appropriate leases. We
anticipate spending an additional $3,875 (approx. $387.50 per month) for monthly
maintenance fees, $10,000 on professional fees, including fees payable for
complying with reporting obligations, $5,000 in general administrative costs and
$1,125 in working capital. Total expenditures over the next 12 months are
therefore expected to be approximately $20,000.

LIMITED OPERATING HISTORY; NEED FOR ADDITIONAL CAPITAL

There is no historical financial information about us upon which to base an
evaluation of our performance. We are an exploration stage corporation and have
not generated any revenues from operations. We cannot guarantee we will be
successful in our business operations. Our business is subject to risks inherent
in the establishment of a new business enterprise, including limited capital
resources, possible delays in the exploration of our properties, and possible
cost overruns due to price and cost increases in services.

To become profitable and competitive, we will need to realize revenue from our
oil & gas sales. If we do not realize revenues we believe that our current cash
balance will allow us to operate for approximately nine months.

OFF-BALANCE SHEET ARRANGEMENTS

We do not have any off-balance sheet arrangements that have or are reasonably
likely to have a current or future effect on our financial condition, changes in
financial condition, revenues or expenses, results of operations, liquidity,
capital expenditures or capital resources that is material to investors.

                                       7
<PAGE>
ITEM 4. CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

Management maintains "disclosure controls and procedures," as such term is
defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the
"Exchange Act"), that are designed to ensure that information required to be
disclosed in our Exchange Act reports is recorded, processed, summarized and
reported within the time periods specified in the Securities and Exchange
Commission rules and forms, and that such information is accumulated and
communicated to management, including our Chief Executive Officer and Chief
Financial Officer, as appropriate, to allow timely decisions regarding required
disclosure.

In connection with the preparation of this quarterly report on Form 10-Q, an
evaluation was carried out by management, with the participation of the Chief
Executive Officer and the Chief Financial Officer, of the effectiveness of our
disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e)
under the Exchange Act) as of October 31, 2012.

Based on that evaluation, management concluded, as of the end of the period
covered by this report, that our disclosure controls and procedures were
effective in recording, processing, summarizing, and reporting information
required to be disclosed, within the time periods specified in the Securities
and Exchange Commission's rules and forms.

CHANGES IN INTERNAL CONTROLS OVER FINANCIAL REPORTING

As of the end of the period covered by this report, there have been no changes
in the internal controls over financial reporting during the quarter ended
October 31, 2012, that materially affected, or are reasonably likely to
materially affect, our internal control over financial reporting subsequent to
the date of management's last evaluation.

                                       8
<PAGE>
                           PART II. OTHER INFORMATION

ITEM 6. EXHIBITS

The following exhibits are included with this quarterly filing. Those marked
with an asterisk and required to be filed hereunder, are incorporated by
reference and can be found in their entirety in our original Registration
Statement on Form S-1, filed under SEC File Number 333-180164, at the SEC
website at www.sec.gov:

Exhibit No.                        Description
-----------                        -----------

   3.1          Articles of Incorporation*
   3.2          Bylaws*
  31.1          Sec. 302 Certification of Principal Executive Officer
  31.2          Sec. 302 Certification of Principal Financial Officer
  32.1          Sec. 906 Certification of Principal Executive Officer
  32.2          Sec. 906 Certification of Principal Financial Officer
 101            Interactive data files pursuant to Rule 405 of Regulation S-T(1)

----------
(1)  To be filed by Amendment

                                   SIGNATURES

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 thereunto duly authorized.

                                  American Oil & Gas Inc.
                                  Registrant


Date  December 26, 2012           By: /s/ Robert Gelfand
                                      ------------------------------------------
                                      Robert Gelfand, Chief Executive Officer,
                                      Chief Financial and Accounting Officer and
                                      Sole Director


                                       9