North American Oil and Gas Provides Update on California Operations (NAMG)

North American Oil and Gas Provides Update on California Operations (NAMG)

VENTURA, Calif.--(BUSINESS WIRE)-- After drilling the Pass Exploration well, on budget, to a total depth of 7,550 feet to test the Tejon Extension prospect, a total of four zones were tested. A small amount of light oil was recovered in one test at depths between 7,120-7,180. North American Oil and Gas Corporation (NAMG), the project operator, has released the rig, pending more detailed petrophysical and geological studies. Additional testing of a shallow zone is anticipated at a later date. NAMG holds a 75% participation interest. East West Petroleum, through its 100%-owned U.S. subsidiary Avere Energy Corp., holds a 25% participation interest in the Tejon Extension prospect.

The Company also announced that ongoing leasing activities in the southern sector of the San Joaquin Basin with EWP has now built the Company’s total acreage position to more than 8000 gross acres. The majority of the new acreage additions have been acquired in an emerging new play area named the Project Lani, where NAMG holds a 50% participation interest.

About North American Oil and Gas Corporation (OTCBB - NAMG)

North American Oil and Gas Corporation (“NAMG”) is a publicly listed (OTCBB - NAMG) oil and gas company. The Company is focused on the prolific San Joaquin Basin, onshore California, with existing foundation assets targeting exploration and exploitation of high impact oil and gas projects located near infrastructure and existing discoveries.

This press release contains “forward-looking information” that is based on the Company’s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to the Company’s plans, outlook, business strategy and exploration and development of the Company’s properties. The words “may”, “would”, “could”, “should”, “will”, “likely”, “expect”, “anticipate”, “intend”, “estimate”, “plan”, “forecast”, “project” and “believe” or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: the ability to raise sufficient capital to fund exploration and development; the quantity of and future net revenues from the Company’s reserves; oil and natural gas production levels; commodity prices, foreign currency exchange rates and interest rates; capital expenditure programs and other expenditures; supply and demand for oil and natural gas; schedules and timing of certain projects and the Company’s strategy for growth; competitive conditions; the Company’s future operating and financial results; and treatment under governmental and other regulatory regimes and tax, environmental and other laws.

This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.



North American Oil and Gas Corporation
Robert (Bob) Rosenthal, +1 805-643-0385
Chairman, President and CEO
fax: +1 805-643-0211
www.namoag.com

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2271380, ~/Articles/ArticleHandler.aspx, 10/23/2014 3:39:04 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...