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This POS is no doubt headed sub penny again and good riddance...
A good day. Many more to come.
It's kind of the same thing at Fort Peck. New technology, new drilling methods.
LOL...HG is toast....
Well...it could be that NAEG is filling the shoes the study said were needed to help with development at Fort Peck...the need for cheap electricity...
Read section III of this report by the US Department of Transportation:
http://www.fhwa.dot.gov/Planning/econdev/mt10.htm
...followed by a supposed $50 sale? Who are they kidding?
Great update...thx
A pleasure...enjoy.
If anyone is sitting on large unfilled orders, I highly recommend you call your bokerage and tell them to get the damn thing filled. They will call the market maker and lean on them.
Let 'em hold. If they don't fill orders from the big houses, they will start getting calls from the likes of Ameritrade, ETrade, etc. They can't sit on their thumbs for long. Just let's not play their bid wars games. Hold fast!
PIRAT...I'm glad you didn't go. We're still headed for that golden cross!
Miss MU?...I think she sold at a loss.
...Yes and first rig paid for. I can't wait for the drilling to start. Good to be in this stock now.
Press Release Source: Native American Energy Group, Inc.
NAEG Receives Funding and Acquires 1st Oil Rig
Wednesday March 7, 9:38 am ET
FOREST HILLS, N.Y.--(BUSINESS WIRE)--Native American Energy Group, Inc. (the "Company," or "NAEG") (OTC Pink Sheets: NVMG - News) has received the first round of its $5 million financing as required under the Loan Agreement from the energy arm of a Foreign Investment Group. The Company also announced today that it has made the final payment on Rig #1. CFO, Raj Nanvaan stated, "It looks extremely promising for NAEG."
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The Company is very pleased with the favorable terms of the loan. Mr. Nanvaan, who now serves as Vice President and CFO, was instrumental in sourcing the $5,000,000 loan at 8% interest for the energy company that he and President Joseph D'Arrigo founded two years ago. The note, which is being collateralized with restricted shares of the Company's common stock (with no conversion feature), supercedes & replaces all other previous funding proposals that the Company has considered.
Raj Nanvaan commented, "Fulfillment of our funding needs means achieving sustainable levels of growth this year that were not previously possible. In terms of NAEG's oil & gas projects... all categories, including acquisitions, development, production, and sales are expected to show fairly dramatic increases throughout the year. We know that production rates after completion are directly related to the size of your pocket book, the location of the properties, and the right combination of drilling and completion technologies. After that, it's a matter of repetition."
"The investment from this group will also help us to rapidly execute on our vision to integrate renewable energy systems, such as Wind Farms, with our core Oil & Gas business that is already underway. These components will both contribute to what we are projecting will be a vastly increasing revenue picture later in the year. Another important project on the agenda is Housing construction that we are joint-venturing on the reservations with Eurowest Panel Homes. That is quite a large market in itself considering the immediate need of 200,000 homes in Indian country," said Nanvaan.
The Company has significant oil & gas interests in various stages of development located in the Williston Basin which also include the Bakken Formation, which is the largest oil producer among all of the nation's onshore geologic formations. Much of the recoverable oil reserves in the various pay zones can still be produced after conventional development. Initially using enhanced oil recovery techniques to tap into the Formation, NAEG successfully enhanced and reactivated their first 2 oil wells during 2006. NAEG plans to deploy 2 rigs to the region. They will then execute the Enhanced Oil Recovery (EOR) process on 10 - 20 wells. The company also intends to joint-venture with other Rocky Mountain oil companies currently active in the region with regards to directional drilling on its potential oil leases overlying the Bakken Formation.
In addition, as part of NAEG's mineral & economic development plan for the reservations that are involved, they will also showcase safe, affordable, energy-efficient homes that will be constructed under NAEG's own license. The Company also intends to implement modern alternative energy systems, such as wind farms and geothermal energy solutions. Our Native tribal communities and landowners are in need of revenues from the resources on their lands. Through synergies with the tribes, Native American Energy Group's goal is to provide social, economic, and environmental benefits to tribal nations across the USA.
Chief Executive Officer, Joseph D'Arrigo of Native American Energy stated, "There are some serious investments that need to be made to develop and support the opportunities and programs that we have PR'd to date. We have just made the final payment on Rig #1 of the two rigs that we have secured. Oilfield equipment is very hard to acquire these days considering the oil & gas activity in the country. These are rigs that we had been looking for since August 2005. As a second example, take what we have lined up geographically through our lease acquisitions already completed in Montana. These oil & gas properties with their large recoverable underlying oil deposits currently estimated at 5 million barrels are the basis for this Company's strong foundation in terms of valuation and potential production values. Oil is how we make money. We will therefore continue to spend & lock down additional quality oil & gas leases during this quarter." (More information on the rigs & delivery dates will be released via a separate announcement.)
Mr. D'Arrigo added, "Our strategy is to enhance the position of the Company operationally and in the public marketplace, and to carry out certain additional expansion activities that we have planned. The fundamental improvements that we will initiate early in the year to each of our component businesses should serve to add exponentially to the bottom line in future quarters. NAEG has arrived at the point where the Company has been recognized as a very exciting investment opportunity. We are pleased to be aligned with an International Organization that finances and promotes programs for health, energy, economic & social improvement, and self-sufficiency to benefit indigenous peoples worldwide on both an economical and humanitarian basis."
There will be.
Here is an EPA study from 2004 that sites over 45 wells active at that time on the East Poplar oil field on Fort Peck. I think there are indeed active wells there.
http://www.epa.gov/region8/about/Chapter5ComplianceStewardship.pdf
There is no doubt there is Bakken oil on the reservation, no doubt it is being pumped now, no doubt at least one big company I just cited is drilling the Bakken on Fort Peck right now. There is also no doubt that recent improvements in technology along with horizontal drilling are creating a big stir about the Bakken.
You said the "big boys" would be there. Does Constellation Energy constitute a big boy? They are drilling the Bakken on Fort Peck right now:
http://eastfortpeckexploration.com/aboutus.aspx
Yes, there is Bakken oil on the reservation. And the report I linked does not reflect the recent reports that conclude there is much, much more oil in the Bakken than previously believed. So I await petrobaron's documented evidence that says otherwise.
This report prepared for the Fort Peck Reservation by the US Geological Survey was done in the 70's. It places several oil fields on the reservation and unless my eyes deceive me clearly mentions Bakken oil.
http://www.eere.energy.gov/tribalenergy/guide/pdfs/fort_peck_28.pdf
Maps of the Bakken show the Fort Peck reservation clearly situated in the middle of the Bakken reserve as it appears on maps. Can you find us any documentation that states the Bakken reserves are not tapped or can not be tapped on the reserve?
The trend is still there:
I think tomorrow will be a better day.
It is after all about the oil.
They would not say the loan is en route if they knew it wasn't. Like any company, they have lawyers and know what a class action is. The wording is very clear...the money has been sent. It's just a matter of time.
jc
...And I am using simple submariner mathematics. If the number of dives divided by the number of surfaces does not equal one...DON"T OPEN THE HATCH!!!
Another day in paradise...good morning everyone. Just a reminder...the ignore feature works very well.
Yes, that is what I am seeing...strange. But I don't make much of it because volume is so small.
Could be...I have no way of knowing. When they cross the B/A like that I don't know if it's a buy or sell. On my setup it tapes black as opposed to red/green for sell/buy.
Now Ameritrade is showing .016 x .016 with transactions being taped as sells....weird...
...beats me. I have never gotten conflicting numbers on the same stock at the same time before.
...I don't know. Data for all pinks seems screwy this morning. I didn't start getting real time data until about 9:40 for any pinks.
I am seeing all those trades on the MM activity at .016 x .017 , yet my account shows us at .015 x .016 on about 800,000 shares traded...
I think the surveys that show many times more reserves in oil than previously thought date ~2000-2002
Yes, and the map is dated 1987...so it wouldn't reflect anything surveyed after that time.
Good morning everyone. The I-Hub is back up and running I see. Here's to hopefully a new high for us this week!
This is a map of oil and gas fields in Montana It shows gas fields and pipelines in red and oil fields and pipelines in green. The black rectangular outline in the upper right hand is the approximate location of the Fort Peck Indian Reservation.
.018 x .019
I also like the overall underlying up trend.
If we hold the current triangle we will likely see at .025 broken today...at least that is my hope. If we start getting the kind of news we want during the present conditions, this thing will scream.
No doubt. I have some friends who are Seminole, Creek and some Cherokee. I was surprised to learn that the Scots immigrants were largely well received among the Natives owing to the fact that they were often ridiculed and poorly treated by the English as were the Natives. Also, the highland clan system was very much like the tribal ways. I was told by a Cherokee that when Scots and Natives married , the children were called something that translates "The beautiful blood" because they were considered attractive children. I have come across several Native Americans at Scottish highland games who claimed to have Scot blood in them. One such, a man named Joseph Riverwind, came in full Native garb and performed dances to highland war drums...it was a hoot. I think someone could write a book on the Scots- Native American co-history. It is a fascinating subject.