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

To: Hunter Vann who wrote (3225)	4/1/1998 2:34:00 PM
From: Hunter Vann	Respond to of 4736

Marty's take on the situation... Re: NAMX Officers Date: Tue, Mar 31, 1998 23:21 EST From: <A HREF="aol://3548:MLinskey">MLinskey</A> Message-id: <1998040104215300.XAA07831@ladder01.news.aol.com> Hello All: I had a talk with Michael Stamm tonight and John Bates late this afternoon. The topic was the Ebeling incident and its impact on NAMX. I did not talk to Mr. Ziller. The long and the short of it is that we appear to have a case of malfeasance that was detected by their law firm (Shepard Mullin). Shepard was hired to guide NAMX through the process of becoming a reporting company and so had access to financial documents. In Michael's words Paul "has violated a trust." The company had to act quickly to correct the situation and chose to remove him. There is no change in the company's plans. They intend to fully develop the Nebraska field; to continue with UPR and to pursue other agreements with US companies. When I asked Dr. Stamm about global agreements, he said that there are none planned or under discussion which is not what I was hearing from Paul. When I asked about the rumor that Michael Stamm was not producing documents that Paul required for becoming a reporting company, Michael said that it was the other way around and that they had to go directly to the bank to secure bank account statements for NAMX. As for the near future, Dr. Stamm is very confident that Nebraska will generate substantial revenues and that KNE will complete the hookups this month. For the distant future, Dr. Stamm suggested I look at Seitel. There is also a very good chance that other area companies will use the EMSounder on their properties. Both men were very disappointed by what has ocurred and have been working solid from the weekend on. They were also very upbeat about NAMX's chances in Nebraska and Colorado. Hope this helps. Keep the DD coming in. marty