Native American Energy Group Inc. (fka NAGP)

[NMState94]

Lowman; In laymens terms, Yes, the land are worth more but only to the leasor. NVMG will only recognize a sizable and measurable increase when they pump the oil out and bring it to market.

Before then, any amounts are the leasors. These leases are in other tems "rent." NVMG does not own the land or oil. Any oil that comes out of the groung is not the property of NVMG's it's the leasor's. NVMG just gets a "cut" when it is sold.

If this was a Capitol Lease, things would be different.