Replies to post #30566 on Native American Energy Group Inc. (fka NAGP)

[Foxwoods Man]

Thanks for the post. It did a great job of summarizing company operations...

I just hope you didn't scare anyone away or confuse their fantasy by stating facts....

[imshredin2]

AND the oil that there is NO evidence they are even producing a drop of is at $42 If they are trying to raise money, were the heck would they find someone stupid enough to....my bad there is one person that seems to be interested in throwing money away. LOL

[sir90]

mbaa519 - Your information is FAKE and you need to provide some links to verify those accusations of yours or retract them.

DIRECT QUOTE

mbaa519 stated here that:

[“They have not produced a drop of oil”]

In fact, the Native American Energy Group, Inc. collected and sold approximately 582 barrels of oil, cumulatively, from two wells. SEE Form 10-Q - Quarterly report filed on 2011-11-14, and as below:

NOTE 16 - SUBSEQUENT EVENTS

As of September 30, 2011, the Company was classified as a development stage company, which is defined by the Financial Accounting Standards Board (“FASB”) as an entity that has not commenced planned principal operations and has no significant revenue. However, in September 2011, the Company commenced a five-well workover on its four oil and gas lease holdings in Montana. During the month of October 2011, the Company completed the first phase of workovers on two of its five wells and began producing a mixture of the water used down hole in the workover operations and oil from the producing formations. As a consequence of this phase of the workovers, the Company collected and sold approximately 582 barrels of oil, cumulatively, from these two wells, resulting in revenues to the Company which will be recognized in the fourth quarter, ending December 31, 2011. Accordingly, the Company is no longer considered a development stage company.

[sir90]

mbaa519 - Yours is misinformation.

You have ambiguously stated in the same paragraph, both, that “They have not produced a drop of oil” and that “what they supposedly produced was literally test amounts.” So which is it?

The answer is that, in fact, the Native American Energy Group, Inc. collected and sold approximately 582 barrels of oil, cumulatively, from two wells. SEE Form 10-Q - Quarterly report filed on 2011-11-14, as below:

NOTE 16 - SUBSEQUENT EVENTS

As of September 30, 2011, the Company was classified as a development stage company, which is defined by the Financial Accounting Standards Board (“FASB”) as an entity that has not commenced planned principal operations and has no significant revenue. However, in September 2011, the Company commenced a five-well workover on its four oil and gas lease holdings in Montana. During the month of October 2011, the Company completed the first phase of workovers on two of its five wells and began producing a mixture of the water used down hole in the workover operations and oil from the producing formations. As a consequence of this phase of the workovers, the Company collected and sold approximately 582 barrels of oil, cumulatively, from these two wells, resulting in revenues to the Company which will be recognized in the fourth quarter, ending December 31, 2011. Accordingly, the Company is no longer considered a development stage company.