Native American Energy Group Inc. (fka NAGP)

[humboldt111502]

They would still be required to report production on any wells that they were named as operator. Then they would have to pay severance/utility tax to the tribe and the state on any revenues made. Nanvaan even acknowledged the taxes in a meeting with Montana officials....


http://leg.mt.gov/content/committees/interim/2005_2006/st_trib_rel/minutes/STRIC_1_23_06.pdf

"SEN. O'NEIL said that currently, Montana charges a 13% oil severance tax and the tribes charge a 7% severance tax. He asked if a bill to reduce the tax would make a difference to NAEG. Raj Nanvaan, Chief Financial Officer (CFO), said such a bill would definitely make a difference for NAEG."