Urgent Oil Penny Stock Alert
Wanda Hinton
wandahinton_ly at guillemot.com
Mon Sep 19 23:07:51 BST 2005
***Energy Stock Alert With News For Monday***
Northamerican Energy Group Corp.(OTC:NNYG)
Symbol: NNYG . pk
Current Price: $.07
How Will The Stock React Monday To The News Below?
A Huge PR Campaign will follow this News!
Will it Give You the Chance to Make Fast Money?
If you think so, Then You May Want to Go For It.
Read the Following in its Entirety:
Could This be Huge?
Breaking News:
Press Release Source:
Northamerican Energy Group -- Muddy Gas
HOUSTON, Sept. 16, 2005 (PRIMEZONE) --
Northamerican Energy Group Corporation
(Other OTC:NNYG.PK - News) previously announced
that it had signed a memorandum of understanding
to acquire the lease holdings owned by Muddy Gas LLC
, a corporation that owns these gas leases in the
state of Montana.
During the due diligence phase, Northamerican Energy
discovered that numerous independent operators had
drilled hundreds of wells in this area in an attempt
to locate another Bell Creek Oil Field, which
produced in excess of 125 million barrels beginning
in the late 1960s; however, all they were able to
locate was natural gas in the Muddy Sandstone
formation at about1,800 feet. Since the initial
production rates were between 50-900 MCFD, estimated
recoverable reserves of 200-500,000 MCF per well,
and natural gas prices were well under
$3.00 MCF, none of the operators could justify the
cost to install a 300-mile pipeline to potential
markets, so the wells were plugged and abandoned.
However, as result of the coalbed methane gas
discoveries in the area, the Grasslands 16`` gas
pipeline was built in 2003 within three miles of
these leases, tying into the 48'' Northern Border
pipeline running from Canada to the Midwest.
``Muddy Gas LLC has identified over 80 potential
well locations in the 13,000 acres encompassing
these leases. With natural gas prices currently in
the $11.00 MMBTU range, coupled with low-cost
drilling and completion costs, the first group of
44 wells anticipates generating annual revenue of
$18-$22_milli0n, with some upside potential if the
flow is better than anticipated,''
stated Jon Ginder, NorthamericaGroup's CEO.
``We are looking forward to closing on this
valuable, gas-rich piece of property and starting
our drilling program this year on the first four
sites that Muddy Gas LLC has permitted,''
continued Jon Ginder.
Northamerican Energy Group Corporation has developed
a proven growth strategy of identification,
acquisition, and development of domestic hydrocarbon
reserves. The company will concentrate on acquiring
prospects that are, and have proven, oil and gas
production which has been operating for many, many
years. By acquiring working interests in proven
low-risk fields, the company minimizes the risk
by not ``wildcatting or drilling dry-holes,'' and
incurring any expense of building major infrastructure
to get the product to market. Finally, the company's
low-cost operations and low overhead structure allows
the company to maximize the income and revenue from
each production lease.
*******************
Put in on Your Radar Screen Now
and Watch this One Monday!
__________________________
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