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

To: proud dad who wrote (2488)	2/7/1998 7:50:00 AM
From: timemizer	Read Replies (1) \| Respond to of 4736

NAMX that's who.. -------------------------------------------------------------------------------- Tuesday August 12 4:30 PM EDT Company Press Release North American Exploration Corp. Announces EM-Sounder Mobilization SEATTLE--(BUSINESS WIRE)--Aug. 12, 1997--North American Exploration Corp. (NASDAQ:NAMX) Tuesday announced the mobilization of its proprietary EM-Sounder sensor for late September 1997. Under agreement with Union Pacific Resources Corp. (NYSE:UPR), the proprietary EM-Sounder Survey will cover the entirety of the Union Pacific Land Grant within Cheyenne, Kiowa and Lincoln counties in southeast Colorado as well as parts of the Hanna Basin Prospect in Wyoming and the Rockport Prospect in Utah. >>>>>>> NAMX 3-D SURVEY The survey will yield high-resolution, three-dimensional hydrocarbon probability density maps of the areas. The market acquisition value of the survey is approximately $20 million (US DLRS).

To: proud dad who wrote (2488)	2/7/1998 8:05:00 AM
From: alchemy	Read Replies (1) \| Respond to of 4736

Hello All: The company is drilling 54 wells in total on the Porter Structure in Nebraska. Nine are completed and 45 are planned. My spreadsheet estimate for their drilling program which is conservative gives us a total of $17.2mm per annum for 50 wells. Ave. drilling cost per well: $75K. Ave. revenue per well per day:$950 Payback: two and a half months. The Niobara wells have the potential to pump away for 20 years plus. The Niobara/DSands will produce for seven years. All figures are based on my due diligence and probably do not represent the most current flow rates. Unfortunately, the Gruy report did not give us any average flow rates so it is hard to establish how the field is going to produce out. If I get more accurate info, I will post it. marty