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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 (3754)	5/20/1998 8:38:00 PM
From: M. M. Jones	Read Replies (2) \| Respond to of 4736

OK folks. Here's what I know about NAMX. I am not going to name my source because I did not ask permission, but I think the source is reliable. The claims are modest. KNE had a pipeline in the area in the past, but the wells began producing a lot of water, gas prices were low, and so KNE abandoned the pipeline. Recently with the NAMX developments, they put the line back into service and added 3.5 miles to it. This was completed last week. Two wells are already flowing. 8 or 9 wells are ready to be hooked up as soon as NAMX installs "separators", which separate the water from the gas. This should be finished very soon. The wells are shallow and "marginal". The two hooked up wells are producing 150-300 mcf a day. This is about average for this area, and is about all one can expect from remaining wells. Probably the whole field will contain 2 bcf. (As a comparison, some of the Texas and LA wells produce 20,000 mcf [a day?]) Another source probably less immediately connected to the industry tells me wells flowing at this rate would receive an income of $150/day per well. I'm assuming this is at the wellhead and before expenses, but I don't know that. This is a public forum whose reason for being is to get at the truth for investment purposes. It is in that spirit that I publish this information, even though I cannot name my sources at this time. M.M.