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The corrected release reads:
TAMM OIL & GAS RESEARCH NOTE ISSUED BY SISM RESEARCH
New Resource Assessment Conducted on Four Sections Adjacent to Core Manning Area Applied by SISM to Calculate Net Present Value of Project to be C$2.3 Billion, Approximately $27.50 Per Share
Ernest C. Schlotter, a senior analyst with SISM Research and a four star analyst according to StarMine, has released a research note for Tamm Oil and Gas (OTCBB: TAMO) focusing on lighter and heavy oil developments in Peace River, Alberta, Canada.
A complementary report, which includes important disclosures, disclaimers and analyst qualifications, is available for download via the Investrend Syndications website (at
). Investors are advised to read disclosures carefully before trading in the equities of any publicly traded company.
According to the Ernst Schlotter’s SISM research note:
“Tamm Oil and Gas is one of the largest leaseholders in the Manning Area (22,400 acres) in the Peace River region of northern Alberta. An independent engineering report dated November 2009 estimated a total of 3.14 billion barrels of heavy oil-in-place from the Mississippian Elkton and the Mississippian Lower Debolt Formation only on Tamm’s oil sands lands. Two wells have been drilled on Tamm’s leases; the two well logs showed excellent porosity and high resistivity and the induction log indicates hydrocarbons. The Shell Canada Chipmunk Project, which is near Tamm’s Manning prospect, became the first sustained high-volume commercial producer of heavy oil from carbonate rocks in Canada. Just recently, GPI Oil and Gas Inc. (TSXV: GPI), which owns 2,560 acres adjacent to Tamm’s properties, reported that an updated independent engineering report determined total heavy oil-in-place on GPI’s lands for the two most significant potential carbonate reservoir zones amounted to more than 200 million barrels of oil, 109,749 MSTB for the Elkton and 96,256 MSTB for the Lower Debolt. The oil gravity in these carbonate deposits is estimated at about 9 API, based on analogous pools in the general area. Estimated recoveries are based upon factors of 15, 10, and 25 percent for ‘best,’ low, and high respectively. The assessment report lists the best estimate of contingent resources as 30,900,000 standard barrels of oil.”