posted
I just called Native, and they said that the 1.19 billion was complete BS. The guy is going to call me back when he gets the share structure.
IP: Logged |
quote:Originally posted by invester: I just called Native, and they said that the 1.19 billion was complete BS. The guy is going to call me back when he gets the share structure.
how can that be b/s when it's on the state of nevada website? i hope that is not correct, but looks like it...
IP: Logged |
posted
If i remember correctly, this has the biggest oil reserve in all of 48 states ... as told by energy department...and we are sitting on a golden pool
-------------------- To reach hill top start from the top
IP: Logged |
By BusinessWire Last Update: 10/4/2006 10:03:34 AM Data provided by
FOREST HILLS, N.Y., Oct 04, 2006 (BUSINESS WIRE) -- 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.
The Bier was producing 60 barrels of oil per hour when it was capped due to excessive fluids (3,200 total fluids with a 50% oil cut) because the expense of removing the water at that time was simply too great. Today's proprietary extraction techniques, combined with lower transportation costs and high profit margins make this well economically feasible again for re-entry.
The Average amount of BOPD from most producing wells in the Luster Field was 500 to 1000. The Luster Field was discovered in 1953 by Exxon and has a total of 300 wells drilled to date. Other major oil companies that have been in this field include Mobil, Amerada Hess, and others. The formation(s) from which they have primarily produced are the Mission Canyon, and the Ratcliff section of the Charles formation in the Mississippian Period.
By design, and by invitation, Native American Energy Group continues to work synergistically with Montana's native tribal nations and landowners to position the Company in targeted leasing areas containing the most potential recoverable reserve capacity, bearing in mind that these projects are also vitally important in promoting economic development, employment opportunities and stability to the tribal community. Through its oil and gas property acquisitions since the Company's inception, and a very aggressive leasing program, NAEG has positioned itself as the largest leaseholder of potential Bakken production on the Fort Peck Reservation.
CEO Joseph D'Arrigo stated, "What many people do not realize is that some of these leases can require as many as 100 signatures when you are not dealing with an individual landowner, but a large number of allotees. Nevertheless, we have managed what the Board considers some very significant acquisitions among our portfolio of previously developed, historically producing wells."
"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, concurrently, in late 2007. That is a much more expensive proposition and represents a larger opportunity, however, to date, of the total wells drilled in the Bakken Play only 2% are dry holes. On average, the initial production rates after completion on the Bakken are between 200 - 600 barrels of oil per day, but can range as high as 2000-5000 bopd depending on the size of your pocket book, the location of the properties, and the right combination of drilling and completion technology's. As was previously announced on August 22, 2006, Native American Energy Group launched its initial oil production on the Fort Peck Indian Reservation in northeast Montana following the successful enhancement, reactivation, and completion of its first two wells. We shall continue to rely on our experienced and devoted personnel who have made great contributions towards helping us to achieve and increase our capacity, and we have every confidence that these important projects will be gradually realized."
The Company has identified an important issue that we understand shareholders may wish to have addressed. Due to the fact that the current share structure may not have been updated, as of yet, on the financial information websites, the correct and most current facts are listed below:
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.
SOURCE: Native American Energy Group, Inc.
IP: Logged |
posted
This almost has billions of barrels of oil which was untapped until now. I saw somewhere in their PRs which I went thro late last night and I think they will do f/s if this is 4M... and We might have just gotten lucky...this would be one of the rarest find...and had been sitting for us from 1950s...up until 1996 or so when NVMG folks found it... Guys this is a lottery ticket...I dont want to pump it...Just facts...
-------------------- To reach hill top start from the top
IP: Logged |
NAEG Acquires Bier Oil Lease; Clarifies Share Structure - UPDATE Business Wire - October 04, 2006 10:03
FOREST HILLS, N.Y., Oct 04, 2006 (BUSINESS WIRE) -- 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.
The Bier was producing 60 barrels of oil per hour when it was capped due to excessive fluids (3,200 total fluids with a 50% oil cut) because the expense of removing the water at that time was simply too great. Today's proprietary extraction techniques, combined with lower transportation costs and high profit margins make this well economically feasible again for re-entry.
The Average amount of BOPD from most producing wells in the Luster Field was 500 to 1000. The Luster Field was discovered in 1953 by Exxon and has a total of 300 wells drilled to date. Other major oil companies that have been in this field include Mobil, Amerada Hess, and others. The formation(s) from which they have primarily produced are the Mission Canyon, and the Ratcliff section of the Charles formation in the Mississippian Period.
By design, and by invitation, Native American Energy Group continues to work synergistically with Montana's native tribal nations and landowners to position the Company in targeted leasing areas containing the most potential recoverable reserve capacity, bearing in mind that these projects are also vitally important in promoting economic development, employment opportunities and stability to the tribal community. Through its oil and gas property acquisitions since the Company's inception, and a very aggressive leasing program, NAEG has positioned itself as the largest leaseholder of potential Bakken production on the Fort Peck Reservation.
CEO Joseph D'Arrigo stated, "What many people do not realize is that some of these leases can require as many as 100 signatures when you are not dealing with an individual landowner, but a large number of allotees. Nevertheless, we have managed what the Board considers some very significant acquisitions among our portfolio of previously developed, historically producing wells."
"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, concurrently, in late 2007. That is a much more expensive proposition and represents a larger opportunity, however, to date, of the total wells drilled in the Bakken Play only 2% are dry holes. On average, the initial production rates after completion on the Bakken are between 200 - 600 barrels of oil per day, but can range as high as 2000-5000 bopd depending on the size of your pocket book, the location of the properties, and the right combination of drilling and completion technology's. As was previously announced on August 22, 2006, Native American Energy Group launched its initial oil production on the Fort Peck Indian Reservation in northeast Montana following the successful enhancement, reactivation, and completion of its first two wells. We shall continue to rely on our experienced and devoted personnel who have made great contributions towards helping us to achieve and increase our capacity, and we have every confidence that these important projects will be gradually realized."
The Company has identified an important issue that we understand shareholders may wish to have addressed. Due to the fact that the current share structure may not have been updated, as of yet, on the financial information websites, the correct and most current facts are listed below:
NATIVE AMERICAN ENERGY GROUP, INC. (NVMG)
(as of: Tue Oct 03 2006 5:09:53 PM EDT)
Current Price: $0.025 Outstanding Shares: 1,224,542,418 Float: 92,682,418 Market Cap: 30,613,560 52 Week. High: 0.06 52 Week. Low: 0.005 Current Capital Change:
Shares increased by 20 for 1 split Ex-Date: 2006-09-19 Record Date: 2006-09-07 Transfer Agent: Manhattan Transfer Registrar Co.
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.
quote:Originally posted by jos_tul: There are total 10-12 wells out there in that area. These looked like Shell sold to independent contractors due to parafin problems...
NVMG has tech stuff which cleared this and BOOOOM...Shell comes back to strike a deal with them
Each well does 200-2500 BBD.
Lets say on an average
700 BBD * 10 * 70 = 490000 per day
490000 * 30 days * 12 months = 176,400,000
Lets say Float is
4m per pink sheet info
Lets say we take 200 m then
pps = .882 per share
And still more wells in hand...and Shell contract already ... My head is spinning...Unless Iam way off the float....May be many people does not know about this yet...
A recalculation based on Updated share structure
700 BBD * 10 * 70 = 490000 per day
490000 * 30 days * 12 months = 176,400,000
Float now is 90 million
90m per pink sheet info
O/S is 1,224,542,418 then
pps = .144 per share
-------------------- To reach hill top start from the top
IP: Logged |
quote:Originally posted by jos_tul: There are total 10-12 wells out there in that area. These looked like Shell sold to independent contractors due to parafin problems...
NVMG has tech stuff which cleared this and BOOOOM...Shell comes back to strike a deal with them
Each well does 200-2500 BBD.
Lets say on an average
700 BBD * 10 * 70 = 490000 per day
490000 * 30 days * 12 months = 176,400,000
Lets say Float is
4m per pink sheet info
Lets say we take 200 m then
pps = .882 per share
And still more wells in hand...and Shell contract already ... My head is spinning...Unless Iam way off the float....May be many people does not know about this yet...
A recalculation based on Updated share structure
700 BBD * 10 * 70 = 490000 per day
490000 * 30 days * 12 months = 176,400,000
Float now is 90 million
90m per pink sheet info
O/S is 1,224,542,418 then
pps = .144 per share
-------------------- To reach hill top start from the top
IP: Logged |
posted
.05 come on fuzzy get real .05 in a few weeks would be good enough i mean someof these people are saying over .10 is that really possible
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Smile]](smile.gif)
