#board-4812 Northamerican Energy Group Corporation
P.O. Box 691172
Houston, Texas 77269-1172
Telephone: 281-895-8351 Website ~~~~~~~> http://www.northamericanenergy.net/ Latest News ~~~~> http://finance.yahoo.com/q?s=nnyr.pk NNYG Filings ~~~> http://www.pinksheets.com/quote/finance.jsp?symbol=NNYR Existing Leases And Wells
: Pursuant to an agreement with Monogram Energy (MGRA) we plan to our expand our holdings by bringing Monogram Energy in as financial partners on both some of our acquisitions we have planned, and also in some of the current leases Northamerican own and operates.
The terms and financial investment of the respective companies in the various leases we already own, and new acqusitions, are to be determined as the company's move forward, however 50/50 participation with Northamerican operating these leases is planned and specific news will be released shortly. Acquisition of New Leases & Wells
: On November 8th we announced that we reached an understanding to acquire and assume as many as 6 additional leases in the Permian Basin, which has now grown to 17, with over 60 wells, all of which we are completing our review, and due dilligence on, and a portion of of those lease will be executed shortly with the mineral rights holders and the State of Texas shortly.
As I mentioned above Monogram Energy will probably be a financial participant in many of the acquisitions. Yates Field
HOUSTON, May 22, 2007 (PRIME NEWSWIRE) -- Northamerican Energy Group Corporation, (Other OTC:NNYR.PK - News) announced today that it has reached an agreement with Monogram Energy, of Richmond, Texas to enter into a Limited Liability Partnership to own and operate a total of seven wells located on two Permian Basin leases in close proximity to production that Northamerican Energy Group currently owns and operates.
Under the terms of the agreement Monogram Energy, as the Majority Partner, will provide all funds necessary to acquire and workover the wells, and Northamerican Energy, as both the General Partner and a Minority Partner, will operate the wells under an operating agreement with the Partnership.
``The wells on these leases are set to produce oil out of various formations ranging from 1700' to 9000' and can easily be refurbished and reworked, at nominal cost, to bring them back on line,' stated Jon Ginder, Northamerican Energy's Chairman and CEO.
``These leases are part of the divestitures of leases that Northamerican Energy has been discussing with Monogram Energy since late last year and we will continue to consider other possibilities with Monogram that fit in with our overall program to expand our operations, and production, both in the Permian Basin and in other locations,' continued Ginder.
Northamerican Energy is currently featured at AudioStocks, where a profile and other information may be obtained by visiting http://www.audiostocks.com
. Share Structure as of June 7, 2007
A/S: 450 mil
Issued & outstanding shares: 12,164,286
Restricted shares: 1,672,000
Escrowed or Blocked shares: 3,500,000
TA: PacWest Transfer Agent
17 Horner Street
Warrenton Virginia 20186
Also see NNYG here: The Transparent Flamingo's
- boards for birds that "show their feathers". http://www.investorshub.com/boards/board.asp?board_id=5260
~~~> Chart by Dart1961 ( http://www.investorshub.com/boards/profile.asp?User=61108
~~~> NNYG Chart indicators explained by Dart1961 ( http://www.investorshub.com/boards/read_msg.asp?message_id=15534216
) New Stock Structure
: We have listened to the concerns of some our primary shareholders and even though it was never our intent to flood the market with lots of cheap shares we clearly understood your concerns.
That being said our Board of Directors has passed a resolution which:
1) Lowers the Authorized Shares from 450 Million to 100 Million
- This will take place as soon as the filings are complete with the State of Nevada.
2) Lowers the coversion rate of the Series A Convertible Preferred from 1 to 900,0000 shares of common to 1 to 5,000
In closing we continue have had lots of new and exciting opportunities available to us, all of which we are working on, none of which I am in a position to discuss yet, and we hope that these Investor Newsletters will help you to keep current on what’s happening to our company and aid you in better understanding what we’re attempting to accomplish.
May our Lord God bless you all,
Chairman & CEO