posted
NAEG Announces Oil Sale and Purchase Agreement with Shell
Canada NewsWire "All News "
FOREST HILLS, N.Y., October 3 /CNW/ - Native American Energy Group, Inc. (the "Company" or "NAEG") (OTC Pink Sheets: NVMG) is pleased to announce it has signed an Oil Sale and Purchase Agreement (SPA) with Shell Trading (US) Company (Shell), and is to begin supplying high-gravity oil from its producing wells in N.E. Montana to Shell immediately.
Shell Trading buys and sells several million barrels of hydrocarbons per day in physical markets, making it one of the largest petroleum supply and trading organizations in the industry. The above SPA was consummated in August, subsequent to the sample testing, approval and purchase, by Shell, of NAEG's initial oil production from the Tribal 7-A and COX 7-1 wells located on the Fort Peck Indian Reservation. Said contract shall be ongoing, and the purchase price adjusted-to-market at regular intervals during which unlimited period, Shell will acquire all future oil production from all NAEG wells in Montana.
Raj Nanvaan, Vice President and CFO of Native American Energy Group, stated, "We are pleased that Shell Trading was enthusiastic about being our buyer. This represents NAEG's first sale of oil to the North American oil market. We look forward to this relationship with Shell on our Montana project, and believe both Native American Energy Group and Shell will benefit from this interaction. I am happy to report to shareholders and investors, alike, that Native American Energy Group is firmly and uniquely positioned, today, in our niche. The nation's demand for energy has increased as a result of factors like the booming economy, high population growth, industrialization and urbanization. There is increasing demand for oil and natural gas as a consequence of this increase in demand for energy."
Joseph D'Arrigo, President and CEO of Native American Energy Group further commented, "By design, NAEG has gained the geographical advantage to help meet this demand for oil & natural gas by acquiring an infrastructure and inventory of historically producing wells in the oil & gas rich, Williston Basin region; while at the same time, NAEG's production results, I am very pleased to say, also benefit local Native American tribal communities and landowners whom are in need of revenues from those resources. This has become our "niche," as we were invited to do. As an independent energy company in current production on tribal land, we, at NAEG, aim at meeting the energy demand of our country by means of these oil and gas development projects, as well as, contributing to the economic well-being & long-term stability of all of Montana's native tribes that are involved. Therefore, NAEG carries on studies, acquires and develops prospective leases, and reaches agreements with natural gas and oil suppliers such as Shell to help meet this increasing demand. We will continue with the good work we have started here, as NAEG strives to meet its production schedule."
Safe Harbor Statement: This News Release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and section 21E of the United States Securities & Exchange Act of 1934, as amended, with respect to corporate objectives, projections, estimates, operations, acquisition and development of various interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein.
-------------------- Please do your DD. Break some bread with me! Posts: 1138 | From: atlanta | Registered: Apr 2006
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posted
Market Makers are playing games, they will be caught with they pants down on this,.... I'm getting more at this Dip. This company is a low floater, and MMs are trying to squeeze shares off traders.
-------------------- Please do your DD. Break some bread with me! Posts: 1138 | From: atlanta | Registered: Apr 2006
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Today’s Price Performance as of 10:52am EDT, 10/03/2006 Option Chains Margin Requirements Interactive Chart
Loading Chart1 Day | 5 Day | 6 Mo | 1 Yr | 3 Yr | 5 Yr $0.0075 Last Price 0.0015 +25.00% Today’s Change $0.0055 Today’s Open 7,525,555 Above Avg. Today’s Volume
-------------------- All I say is IMHO.
I like these calm little moments before the storm... Reminds me of Bethoven Posts: 3255 | From: Orlando, FL | Registered: Mar 2006
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quote:Originally posted by Schwabie: NICE VOLUME...
LOOKS LIKE A TOSS UP BUT NICE FLIP POTENCIAL
2 1/2 TIME 10 DAY MOVING AVERAGE
Today’s Price Performance as of 10:52am EDT, 10/03/2006 Option Chains Margin Requirements Interactive Chart
Loading Chart1 Day | 5 Day | 6 Mo | 1 Yr | 3 Yr | 5 Yr $0.0075 Last Price 0.0015 +25.00% Today’s Change $0.0055 Today’s Open 7,525,555 Above Avg. Today’s Volume
PPS after F/S was around .012
Posts: 1580 | From: World | Registered: Jul 2006
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posted
This is what I got from other board **************,...
Business Description: Oil & Gas Exploration & Development. Native American Energy Group specializes in renewable and non-renewable energy production on Native American Land. Our primary business is the development of previously capped and shut-in oil and gas wells in Indian Country that have proven reserves.
Primary State of Incorporation: Nevada
Country of Incorporation: USA
Officers: Joseph D'Arrigo, President
Outstanding Shares: 203,700 as of 2006-09-19
Estimated Market Cap: 1,222 as of 2006-10-02 (based on Outstanding Shares as of 2006-09-19)
Current Capital Change: shs increased by 20 for 1 split Ex-Date: 2006-09-19 Record Date: 2006-09-07 Pay Date: 2006-09-18
Dividends:
Company Notes: Formerly=Halstead Energy Corp. until 2-05
Class Notes: Capital Change=shs decreased by 1 for 2 split. Pay date=10-16-98 Capital Change=shs decreased by 1 for 200 split. Pay date=02/07/2005
-------------------- Please do your DD. Break some bread with me! Posts: 1138 | From: atlanta | Registered: Apr 2006
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Outlook Native American Energy Group is a publicly traded, independent oil & gas exploration, development and production company listed on the NASDAQ OTC Pink Sheets Market. The company currently owns leases on oil & gas properties in the Williston Basin in Northeastern Montana. The properties being leased and acquired have proven track records and have previously shut-in or abandoned wells on the land. Well logs and drilling data are fully reviewed before further pursuing a potential lease.
In addition to acquiring previously shut-in and abandoned wells, our company has aggressively acquired a significant amount of acreage over the Bakken Formation in the Williston Basin which the Oil & Gas industry is now calling the largest oil find in the continential U.S in the last 50 years. For more information on this formation, kindly visit the Wall Street Journal article at the following link: Wall Street Journal - Montana Oil Boom
Our company is still acquiring additional Bakken acreage along with enhancing & reactivating our portfolio of historically producing oil & gas wells. The company intends to drill a group of Bakken wells in the year 2007.
Financial Disclosures NAEG has retained the services of a New York accounting firm and is currently preparing their 2005 financial statement which will include audited financials. The company intends to make application to the OTC Bulletin Board or American Stock Exchange in the year 2007 after it has reached a set goal of production and qualifies for listing on either market or exchange. Once the audited financials are complete, they will be availabe for viewing on pinksheets.com until the company files any such registration statement with the U.S. Securities & Exchange Commission. The company understands that it may not be in its best interest to take on the obligation of complying with the Sarbanes-Oxley Act until the Board of Directors deems fit to do so. However, the Board of Directors of the company intend to utilize the OTCQX, a premium quotation, trading, and disclosure service for OTC securities trading on the Pink Sheets.
-------------------- Hi-ho Momo, awayyyy... Posts: 871 | From: So. Cal | Registered: May 2006
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Today’s Price Performance as of 11:23am EDT, 10/03/2006 Option Chains Margin Requirements Interactive Chart
Loading Chart1 Day | 5 Day | 6 Mo | 1 Yr | 3 Yr | 5 Yr $0.0090 Last Price 0.0030 +50.00% Today’s Change $0.0055 Today’s Open 9,137,092 Above Avg. Today’s Volume
-------------------- All I say is IMHO.
I like these calm little moments before the storm... Reminds me of Bethoven Posts: 3255 | From: Orlando, FL | Registered: Mar 2006
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Today’s Price Performance as of 11:28am EDT, 10/03/2006 Option Chains Margin Requirements Interactive Chart
Loading Chart1 Day | 5 Day | 6 Mo | 1 Yr | 3 Yr | 5 Yr $0.01 Last Price 0.0040 +66.67% Today’s Change $0.0055 Today’s Open 10,302,092 Above Avg. Today’s Volume
-------------------- All I say is IMHO.
I like these calm little moments before the storm... Reminds me of Bethoven Posts: 3255 | From: Orlando, FL | Registered: Mar 2006
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