Well now...
if you have taken some time, and read through some old news releases like this
FOREST HILLS, N.Y., September 19 /CNW/ - Native American Energy Group,
Inc. (the "Company" or "NAEG") (OTC Pink Sheets: NVMG) is pleased to announce
the acquisition of the Beery oil lease. The lease contains the Beery 42-24 which is a stepout from the N.P. No.1 that was initially drilled by Shell Oil.
The N.P. No.1 was the wildcat strike that became Shell's "discovery" well for the eastern Montana part of their Williston Basin drilling program that
commenced May 10, 1951, and actually marked the beginning of the boom. Other
than historic value, NAEG's team of geologists had identified the Beery Well
and the Richey Field, on which it is located, as strategically important
acquisitions that will enhance the position of the Company, according to
thorough data assessment and geological evaluation performed. The Company has
agreed to reactivate the entire Richey Field.
So they say....but no acreage mentioned....
then there is this one...
FOREST HILLS, N.Y., October 4 /CNW/ - Native American Energy Group, Inc.
(the "Company" or "NAEG") (OTC Pink Sheets: NVMG) is pleased to announce it
has acquired the Bier Oil Lease that contains a well drilled by Exxon in 1984,
consisting of 760 acres located on the Luster Field in N.E. Montana. The Bier
Well, which was later plugged and abandoned (P&A), has been selected for its
production potential and is to be among the first group in NAEG's Enhanced Oil
Recovery & well development program..............blah blah blah........
NAEG has positioned itself as the largest leaseholder of potential Bakken production on the Fort Peck Reservation.........blah blah blah......
"It was an early feasibility study," said D'Arrigo, "by our geological
team, including a full analysis of the previous operator's results and all
essential aspects of the historical drilling and exploration data that relate
to several of our leases and their underlying oil deposits, that has validated
the planning and initiation of a 12-month, 20-well development program.
Estimates had been established and were reported to me during 2005 by our
Senior Geologist & Petroleum Engineer, Tony Johnson, and our exploration team
to indicate 2 (two) million barrels of recoverable reserves are accessible in
just 5 of the Company's more significant acquisitions. We have two (2) rigs
from one manufacturer being prepped for delivery, one later this year and the
second in early 2007 to get the job done. In parallel with this goal, overall,
once we have met certain production levels from the current re-work program,
then exploratory and verification-drilling may begin on our Bakken leases,
then they are quite closed mouthed about holdings on the native lands,,,,,
but this here is old news tooo....
Native American Energy Group, Inc. Announces Successful Enhancement and Completion of First 2 Oil Wells
FOREST HILLS, N.Y., Aug. 22 /PRNewswire-FirstCall/ -- Native American Energy Group, Inc. (the 'Company' or 'NAEG') (OTC Pink Sheets: NVMG), a publicly traded, independent oil & gas exploration, development, and production company is pleased to announce the successful enhancement, reactivation, and completion of its first two oil wells.
NAEG field operations have resulted in the successful revitalization of the Tribal 7-A and COX 7-1 wells located on the Fort Peck Indian Reservation which lies in the Williston Basin. It took 8 days to complete each well individually which included down-hole rework and enhancement procedures such as the administration of the Company's proprietary chemical called Petro-Flo. The chemical treatment was reported to have increased the pressure by 6-fold in the producing zones. Both wells were producing significant amounts of gas after the treatments as well. During the testing period after the treatment on the 7-A, the company accumulated more than 200 barrels of high gravity oil of which a sample was picked up by Shell Trading Co. and another oil purchaser in the area. Both purchasers approved the oil for purchase and are currently drafting proposals for Native American Energy.
Both wells were completed on time due to the precise scheduling of all components of their operations and are currently in minimal production. Stable flow rates in terms of BOPD and additional data on comparative results can be expected to be reported within 3 to 4 weeks. After the chemical treatment, the initial flow rates tend to fluctuate in a wide range for the first couple of weeks before settling down to a steady flow. At that time, the Company will issue another report to its shareholders informing them of its results. The NAEG team anticipates a very positive result of their proprietary enhanced recovery methods as they have proven to be very successful in the past...........
forgive me for shortening up the length of these news releases to trim them down to the meat....
(lotta feathers but not much chicken)
also regarding those 2 reworks mentioned above, not sure where i read it, but myself i am under the impression they do need to be reworked again.....i believe one of them had trouble with a dilapidated old pump-jack
But that is the nature of the buisiness....
for the coup-d'etas (cant remember how to spell that word correctly) it actually means "shot of grace" i think.
Ummm you can go to the companys website and see video from the well rework jobs, all the boys are there
Joe, Raj, Even Tony... I still like Tony. "the sucker that i am"
But if you got the time to listen to the video from the meeting at the Montana State Capital
there is a "secret hidden clue in there" its very short and easy to miss....
the answer that can be found in that video.....
he puts a number on Montana Oil leases on native lands, ....
The last time i summarized what was said in the video it fell off the internet, Sooooo.... i won't rehash it, i will leave it up to you to find.
Ohhh Ya one last thing,
the money borrowed for those 2 rigs to be bought and rebuilt,
was furnished with collateralized shares as security, based on a value of .016666 per share or 5 Million dollars for 300 million shares.
Do the math....
who lends 5 million without peeking into the books ???
Any more questions ?
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