NAMX -- North American Expl.-- Que Sera Sera! Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : NAMX -- North American Expl.-- Que Sera Sera!

NAMX 0.0001000

0.0%

Mar 7 3:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: M. M. Jones who wrote (1618)	12/1/1997 8:51:00 AM
From: alchemy	Read Replies (1) of 4736

Hello Molly: NAMX does have a perfect record when you look at their exploration campaign. Unofficially, they have been successful in determining the presence or absence of hydrocarbons at seven sites. Officially, they have located resources at five sites which are: Rother 1: NG/He Carroll 1: NG/He Nebraska 1, 2 & 3: NG Originally, they were estimating a success rate of 38% (19 producing wells out of 50) for their technology in Colorado. To date, they are 100%. From their early successes in Nebraska, it would not surprise me if they continue to find paying areas in those fields. You are correct that NAMX does not have a direct legal relationship with UPR at this time. Patroclos does have such a relationship with UPR as stated in their release of Sept. 5. NAMX is serving as Patroclos' nominee in this relationship so it does have an indirect relationship. Patroclos has ceded all earnings from the Colorado properties to NAMX. UPR has agreed to process any gases extracted from the wells when its Helium processing plant is completed in June of 98. It is my understanding that NAMX will be the primary party in all business relationships in the future. The KNE/NAMX deal demonstrates this. <<Patroclos has entered into a farm-out agreement with UPR covering 1,280 acres in Cheyenne County, Colorado. Patroclos has designated NAMX as its North American operations nominee as well as its North American licensee for commercialization of the EM Sounder Technology. Earlier this year Patroclos funded the drilling of two wells on farm-out acreage, with UPR acting as the operator. The wells have been plugged and abandoned pending a detailed independent technical evaluation. These wells earned Patroclos a 50 percent working interest in 960 acres of the UPR lands. Patroclos has designated to UPR the site location for a third well to be drilled under the farm-out agreement.>> I will try to get clarification regarding the involvement of the North American Drilling Fund in the Nebraska development. Paul is on the road so it may be a while before we get any answers. marty

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next