Stock Guru Profile
Northamerican Energy is on a roll.
Northamerican Energy Group Corporation has reached an understanding to acquire and assume additional leases in the Permian Basin as part of an overall agreement with a company that works closely with Northamerican on its current lease holdings. John Ginder related to Stock Guru that this property contains a total of 6 individual leases, over 1000 acres, and over 20 wells. These properties contain a number of inactive gas and oil wells in shallow (1500′-4300′) oil and gas fields located on non-contiguous acreage and leases in Pecos County, Texas. These properties are in a mature, existing field, and these leases were developed and operated until they became inactive in the past 10-15 years when oil and gas prices did not support their continuing operation.
John Ginder, CEO, of Northamerican notes these properties fit perfectly into Northamerican’s strategy of acquiring economically viable leases that will return investment and workover costs quickly resulting in positive cash flow for the company within 12 months.
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
Source: Northamerican Energy Group
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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