posted
take another look at this, out of today's PR HUGE...
"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".
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posted
This is from the previous PR. Looks like big things to come. Shell is getting in on the action early. I think this could be a BIG runner.
Native American Energy Group is focused on its acquisition and well-development program in accordance with its business plan. As it stands, NAEG is currently acting on more than 100 bid awards on oil & gas land leases from the U.S. Department of Interior - BIA (Bureau of Indian Affairs) which are described as, in-process. In addition, the Company announced today that within the last six months NAEG has been approached by a foreign investment group that has proposed financing the construction of a new oil refinery in Northeastern Montana. As a result of on-going discussions, NAEG management has contacted Evan Barrett, Chief Energy Officer of the Schweitzer administration. Native American Energy Group's role would be to manage the facility and is to include part ownership, however, such a development, should it occur, would not trigger a shift from the Company's main focus.
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Today’s Price Performance as of 10/03/2006 Option Chains Margin Requirements Interactive Chart
Loading Chart1 Day | 5 Day | 6 Mo | 1 Yr | 3 Yr | 5 Yr $0.025 Last Price 0.02 +316.67% Today’s Change $0.0055 Today’s Open 40,792,131 Above Avg. Today’s Volume
-------------------- All I say is IMHO.
I like these calm little moments before the storm... Reminds me of Bethoven
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posted
I didn't realize so much was going on in Montana. They have a total population of about 500k. They apparently have ALOT of oil for Shell to be doing business with them. This one TO DA MOON!!!!
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posted
this is far from over, the more I read, the more I like this. Shell is HUGE, the contract was open ended, this will continue it's run tomorrow, I don't think .10 is out of the question over the next few days...
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posted
Thank you schwabie ,.. and doling... Just remember guys,....we are all here to make money! In stock trading you cant make money alone unless ofcourse you're trading by yaself with yaself. Its my pleasure to help folks here make money....just like superman7 did for me a while back.
Lets hope for a money crazed wednesday!!! Greens baby!!!
-------------------- Please do your DD. Break some bread with me!
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posted
Wow, go read back through the PR's, this one has been a rocket waiting to take off. They have been setting up for this for a while now. Shell oil is now involved. This might be the best one yet. Well, CSHD was pretty darn good. This has the potential.
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posted
NAEG Acquires Historic Shell Oil ``Discovery'' Well Tuesday September 19, 1:20 pm ET
FOREST HILLS, N.Y.--(BUSINESS WIRE)--Sept. 19, 2006--Native American Energy Group, Inc. (the "Company" or "NAEG") (OTC Pink Sheets: NVMG - News) 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. ADVERTISEMENT
The Richey Field was discovered by Shell Oil with completion of the Beery 42-24. Shell drilled a total of 12 wells in this field of which 10 wells were completed with flowing rates between 200 to 2600 barrels of oil per day. The Beery 42-24 was the best well in this field with an initial flow potential of 5,378 barrels of oil per day. By 1960, Shell Oil sold the field to independent operators due to problems dealing with the accumulation of paraffin. The operators attempted to deal with the paraffin problem by applying hot oiling methods to demulsify the wax. Such methods used to provide very high production for short periods of time and then plugged up the production again. The operators were lucky to keep these wells pumping a fourth of the time with increased workover rig operations, hot oiling, equipment repairs and heavy expenses. The operators finally abandoned the field in 1995.
NAEG's proprietary, enhanced recovery technology has been very successful with paraffin. The last two wells completed in August had similar paraffin problems. After the treatment, the paraffin was cleared up and the there was a 1200% increase in production on the first well and 1500% on the second well. The Company plans to enhance and reactivate these wells using the same treatment.
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