American Petroleum is committed to high standards of conduct, ethics and corporate governance.

The Board of Directors has been comprised of a majority of independent directors since the company became an independent company. The Audit Committee and the Compensation and Benefits Committee have each been comprised entirely of independent directors since their inception.

The Board appointed an independent Nominating and Corporate Governance Committee and has adopted written charters for all three independent committees that provide, among other things, an annual self-evaluation. In addition, the Board has adopted a Code of Business Conduct and Ethics; a Code of Ethics for the Chief Executive Officer, Chief Financial Officer and Chief Accounting Officer; and Corporate Governance Guidelines.