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 Update

Stocks in this article: NAMG

VENTURA, Calif., Jan. 30, 2014 /PRNewswire/ -- The North American Oil & Gas Corp. ("Company") has received many inquiries from shareholders regarding the stock positions of the officers and directors of the Company, and would like to take this opportunity to clarify their holdings.  While up to date information is available on the Securities and Exchange Commission's website, the information set forth below addresses the holdings of three of the Company's largest shareholders (the "Affiliated Holders"), including two members of the Company's board of directors.

As of December 1, 2013 a total of 24,300,000 shares of the Company's common stock are held equally between the three Affiliated Holders.  To date, two of the three Affiliated Holders have declared their intention to sell a total of less than 5.0% of the total amount held by the Affiliated Holders.  The two shareholders concerned have agreed with the Company to sell no more than 10,000 shares per day subject to market conditions.

The third Affiliated Holder, ASPS Energy Investments Ltd, which is controlled by the Company's CEO Robert Rosenthal, has not sold any shares in the Company and Mr. Rosenthal has stated publically that he has no plans to sell any such stock in 2014. In addition, Mr. Rosenthal, along with both of the other Affiliated Holders have signed a further 'lock-up' agreement with the Company stating that no further shares will be sold in 2014 by the three Affiliated Holders.

In addition, Mr. Rosenthal states that "the Company is aggressively working towards its drilling and testing program for 2014, and expects to achieve significant progress towards our goals."

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.

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 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

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