Silicon Investor (SI) -- The First Internet Community

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 : Dollar and Under Sleeper Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Ga Bard who wrote (4341)	2/6/1998 10:22:00 AM
From: Jim B	Read Replies (4) \| Respond to of 8835

NAMX!! more good news.. check this out Friday February 6, 9:30 am Eastern Time Company Press Release NAMX Reports Western Nebraska Gas Field Reserve Estimates SEATTLE--(BUSINESS WIRE)--Feb. 6, 1998--North American Exploration Corp. (OTC/BB:NAMX - news) announced estimates of proven and probable natural gas reserves from the Niobrara Formation in its Western Nebraska field. The company has completed and four point flow tested representative wells drilled on the structure. Proven and probable Niobrara Chalk Formation natural gas reserves were estimated by H.J. Gruy & Associates, the company's independent reservoir engineers, at 60.97BCF of natural gas. On Jan. 27, 1998, NAMX was granted 40-acre well spacing on the Niobrara Chalk Formation and plans to drill 45 additional wells on the structure in 1998. The value of the reserves from the Niobrara Chalk Formation was estimated at $140,840,070, using the Wall Street Journal, March NTMEX price of $2.31 per MMBTU. The D Sands reservoir estimates are not included and will be reported when their analysis is completed later this month. As further drilling is done, the estimates of proven and probable reserves may be revised upward or downward, depending on the actual drilling results. KN Energy (NYSE:KNE - news) purchases the natural gas under contract for the life of the field. North American Exploration Corp. 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. This news release, other than historical financial information, consists of forward-looking statements that involve risks and uncertainties, including planned construction and drilling activity, 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 206/326-5469 (fax) 800/600-8599 (Corporate Communications) --------------------------------------------------------------------------------