NNYG — Northamerican Energy Group Corp.
Stock Guru Profile
Northamerican Energy is in process of performing its due diligence on Penergy’s New Mexico leases to enable them to engage a major drilling, or production company, to assist Northamerican’s efforts to properly capitalize upon the opportunity their leases will provide. Just a reminder: Northamerican Energy Group Corporation executed exclusive option with Penergy, of Midland, Texas, to purchase the leases on 1920 acres in New Mexico that encompasses 30 existing wells originally drilled by Tenneco into shallow (under 3000′) reservoirs.
Northamerican Energy’s Director of Field Operations, John Wilshusen, is overseeing this process and is working with the Penergy geologist, and their own geologists to complete this due diligence, and complete a prospect package for their use.
Once the due diligence is complete Northamerican intends to take this prospect package and open discussions with larger drilling, production companies, or private investors.
A picture is worth a thousand words. Link here to see this company in action reworking an older well. Reworking a Well Power Point Presentation.
Source: Jon Ginder, Chairman
NNYG — Northamerican Energy Group Corp.
P.O. Box 691172
Houston, TX 77269-1172
Website: http://www.northamericanenergy.net
Phone: 281-895-8351
Fax: 281-895-8321
Safe Harbor Provisions: Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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