North American Oil and Gas Corporation (the “Company” or “NAMG”) is pleased to announce the following update regarding its acreage position in the San Joaquin Basin of California, USA.
NAMG has built a portfolio in excess of 8,000 gross acres in the southern San Joaquin Basin. This is almost double the acreage since the merger with Calendar Dragon in late November 2012. The majority of the new acreage additions have been acquired in the Project Lani area, which is located in the southern San Joaquin Basin.
|1. Tejon Extension||75.00%||Yes||East West Petroleum||546||346|
|2. Tejon Footwall||21.25%||Yes/No 2||East West Petroleum; and Solimar||2,874||2,600|
|3. Project Lani||50.00%||Yes||East West Petroleum||4,823||2,098|
Bob Rosenthal, President & CEO commented, “We are pleased with the significant acreage position accumulated to date. More importantly the doubling of the company’s acreage since listing has been achieved in such a short period of time without excessive cost to the company.”