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To: Ga Bard who wrote (4170)	1/28/1998 3:33:00 PM
From: FARRIS	Read Replies (1) \| Respond to of 8835

Did MH Meyerson get all they want before the run up? <g>

To: Ga Bard who wrote (4170)	1/28/1998 4:40:00 PM
From: Jim B	Read Replies (1) \| Respond to of 8835

Check out NAMX.. mgmt doing a good job to keeping its investors informed.. check the thread for more info.. stock at .19/share right now. jimWednesday January 28, 3:35 pm Eastern Time Company Press Release North American Exploration Corp. Reports Approval for 29 Additional Natural Gas Well Sites in its Nebraska Field SEATTLE--(BUSINESS WIRE)--Jan. 28, 1998--North American Exploration Corp. (OTC/BB:NAMX - news) Wednesday announced that at a scheduled hearing on Jan. 27, 1998, the Nebraska Oil & Gas Commission granted its application for a variance to reduce the well site spacing from 160 acres to 40 acres in the Niobrara Chalk formation on its exclusive 25,000-acre lease in western Nebraska. The Commission's ruling provides for an additional 29 drilling sites on the structure. To date nine natural gas wells have been completed, six of which are awaiting connection to the KN Energy gathering system (under construction). Drilling is scheduled to begin on the 14-well second phase on the Niobrara and D Sands Formation structure in February immediately after the permitting process is completed. The company has located the 29 newly allocated drilling sites and will begin drilling the wells after the completion of phase two of the structure's development plan. This project is expected to be completed in December 1998. Proven and probable natural gas reserves were originally estimated by the company's reservoir engineers at more than 58.50BCF of natural gas. This estimate may be revised depending on the actual drilling results. The natural gas is being sold to KN Energy (NYSE:KNE - news) under contract for the life of the field. Production began in early January 1998. North American Exploration is a remote sensing technology company with interest in oil and gas exploration and production. It is the exclusive worldwide licensee of EM Sounder(GPR) technology and the parent of NAMX Energy Inc. (a wholly owned subsidiary). This news release, other than historical financial information, consists of forward-looking statements that involve risks and uncertainties including planned construction, drilling activity, mining activities, expected production efforts, volumes, budgeted capital expenditures and other risks and uncertainties. Actual results may vary materially. -------------------------------------------------------------------------------- Contact: North American Exploration Corp., Seattle 206/326-5468 or fax: 206/326-5469 Corporate Communications: 800/600-8599 -------------------------------------------------------------------------------- More Quotes and News: KN Energy Inc (NYSE:KNE - news) North American Exploration Corp (OTC BB:NAMX - news) Related News Categories: mining/metals, oil/energy, utilities --------------------------------------------------------------------------------