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Company Press Release
North American Exploration Corp. Retains McClure, Gerard & Neuenschwander Inc.
SEATTLE--(BUSINESS WIRE)--Sept. 11, 1997--North American Exploration Corp. (OTC:NAMX) has retained McClure, Gerard & Neuenschwander Inc. (MGN), Washington, D.C., to serve as a consultant and provide governmental-relations and regulatory-affairs services.
MGN is particularly knowledgeable in dealing with energy, natural-resources and environmental matters. Its founder, U.S. Sen. James A. McClure (R-Idaho, retired), became widely recognized for his expertise on energy and natural resources while serving as chairman of the Senate Energy and Natural Resources Committees.
NAMX has retained H.J. Gruy and Associates Inc. for its expertise in geologic studies, reservoir-engineering studies and economic-investment analysis.
Gruy will provide an independent technical evaluation of the No. 1 Rother 13-29 and No. 1 Carroll 43-33 test wells in Cheyenne County, Colo. (under agreement with Patroclos, NAMX obtained 100 percent of Patroclos' working interest in these test wells), and all other wells to be drilled in North America in which NAMX has an interest.
North American Exploration is the North American nominee for Patroclos which has agreed to finance a third test well within the 960-acre lease earned under the Patroclos farm in agreement.
The site location for the test has been designated solely utilizing proprietary high-resolution EM Sounder geophysical data covering 24 square kilometers of Cheyenne County furnished by NAMX. This well will be spudded as soon as is practical after State of Colorado permits are received.
Ultra Energy Corp. Thursday informed NAMX that negotiations are proceeding with important landowners and oil/gas producers in North America for drilling programs utilizing EM Sounder.
NAMX will employ EM Sounder geophysical data in the drill-site selection on all lands covered by its agreements as either a principal or nominee.
NAMX has engaged Deloitte & Touche LLP for professional services in the conduct of its operations.
North American Exploration is an advanced remote-sensing technology company employing proprietary electromagnetic expertise for the acquisitions of hydrocarbons in North America. |
