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Microcap & Penny Stocks : NAMX -- North American Expl.-- Que Sera Sera! -- Ignore unavailable to you. Want to Upgrade?

To: bob who wrote (2141)	1/15/1998 9:49:00 AM
From: alchemy	Read Replies (1) \| Respond to of 4736

bob, If you bothered to read the 12/17/97 press release, you would have noticed: "NAMX anticipates becoming a full (12g) reporting company during the first quarter OF 1998" That means we will have an earnings report which will include full disclosure of shares outstanding and restricted. We will know then. The best way to beat a short campaign is by incresing your asset base. NAMX has done this in Nebraska with an asset containing an estimated 23bcf. They are also supposedly producing from this asset although KNE will not confirm this since it is not their policy to release information concerning their customers. NAMX needs to release this information before KNE will confirm it. They need to get this info. out. Based on the release of Nov. 7, I estimated that they would earn around $150K a month from the first three wells. If the next six wells are the same size, we may earn an additional $300K a month. Add on 14 more wells through Feb. and March (@700K), and we may be earning over $1mm per month by the beginning of Q2. With numbers like that, we should be a self-financing company with no need to sell shares. This whole scenario could be blown out of the water by the Gruy Engineering report on NEB. My figures could be ridiculously low or way too high. The report will tell us. It is very important and may be the reason that UPR and BR are talking but not signing. It will tell them whether or not we have enough income to carry our weight in an exploration agreement. If you look at the 50-well UPR/Patroclos agreement, Patroclos/IMMM would have had to finance the drilling. They would receive half of their operational cost back if a well was successful. A 50 well campaign will cost $30mm. Where is NAMX going to get $30mm? From Caroll and Rother? We have no idea what's in them or if they have any value at all. I am completely discounting them as income producers at this point. The company needs to clarify their status as they stated they would. Hopefully, the income will come from Nebraska. We shall see. I hope they don't sit on the Gruy report. marty,the snake