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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

North American Oil And Gas Corporation (the "Company" Or "NAMG") Is Pleased To Provide The Following Update.

Stocks in this article: NAMG

VENTURA, Calif., Sept. 24, 2013 /PRNewswire/ -- North American Oil and Gas Corporation (the "Company" or "NAMG") is pleased to announce that it has completed an exhaustive analysis on the recently acquired 3D survey covering its 3,429 gross acres (2,946 net acres) Tejon Area totals.  The company has completed mapping and volumetric analysis of the 14 prospects previously identified, further refining their extent and reducing their associated technical risk.  This work has allowed the company to prioritize its prospect inventory in terms of geologic risk, resource potential, drilling difficulty and permitting issues.   

The prospects include 5 target horizons: the Eocene, Vedder, Jv, Olcese, Reserve and Transition Zone.  All of these reservoirs are productive at the adjacent Tejon, North Tejon and Wheeler Ridge fields which have together produced over 175 million barrels of oil and gas in oil equivalent terms.  The 3D survey has enhanced our understanding of the oil habitat at Tejon and North Tejon fields which were developed without the aid of this data.  The new 3D interpretation clearly shows traps that were untested in the previous drilling campaigns because they did not have this data to drive their development programs.  Most of NAMG's prospects are up-dip of this old production.

Although our P50/P10 resource estimates have remained the same at 24/81 mmboe, NAMG believes the technical risk of our prospects has been reduced by our continued analysis.  NAMG has started the permitting of five wells.

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.

As of June 30, 2013, NAMG owned interests in approximately 8,243 gross acres (4,944 net acres) in the southern San Joaquin Basin.  1) White Wolf 4,823 gross (2,098 net) acres; 2) Tejon Main 2,874 gross (2,600 net) acres; and 3) Tejon Extension 546 gross (346 net) acres.

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.

1 of 2

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 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

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