This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

(Graphic: North American Oil And Gas Corporation)

Stocks in this article: NAMG

North American Oil and Gas Corporation:

Overview

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.”

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,828.24 +0.49 0.00%
S&P 500 2,067.56 -5.27 -0.25%
NASDAQ 4,791.63 +4.3130 0.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs