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(Graphic: North American Oil And Gas Corporation)

Stocks in this article: NAMG

North American Oil and Gas Corporation:


North American Oil and Gas Corporation (the “Company” or “NAMG”) has completed the strategic review of its greater Tejon Area encompassing 3,429 gross acres (2,946 net acres). The Company has incorporated results from its first well (Pass Exploration 77-20) and the newly acquired 37m 2 of 3D seismic following an extensive internal review including the assistance of leading industry consultants in the San Joaquin Basin.

The strategic review has upgraded the prospectivity of the Company’s Tejon acreage. The new portfolio comprises of 14 low risk to moderate risk high impact appraisal / exploration prospects targeting light oil with P50/P10 1 resource potential of 24/81mmboe gross, all located in the prolific southern San Joaquin Basin California. This is a significant upgrade to our previous estimates of 4 prospects targeting P50/P10 resource potential of 20/65mmboe gross.

Potential     Target     Depth     Unrisked potential (mmboe)
Prospects     Reservoir           P50   P10
2     Transition Zone     Shallow     0.8   2.5
2     Reserve Sand     Shallow     0.3   2.5
3     Olcese Sand     Shallow     2.3   8.8
4     JV Sand     Shallow     5.6   17.8
3     Veddar/Eocene     Deep     15.2   49.5

Total (mmboe)

          24.2   81.1

Bob Rosenthal, President & CEO commented, “the new interpretation of the 3D seismic data and review of over 600 wells in the Tejon area upgraded the prospectivity of our acreage. Importantly we have identified multiple opportunities both shallow and deep, which reduce the risk profile and demonstrate the potential that exists within our acreage. The company plans to pursue its portfolio of 14 prospects targeting upside of 81mmboe gross in the coming months.”

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