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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 (4385)	8/25/1998 12:31:00 PM
From: bob	Read Replies (1) \| Respond to of 4736

Home - Yahoo! - Help [ Business \| US Market \| By Industry \| IPO \| AP \| S&P \| International \| PRNews \| BizWire ] Tuesday August 25, 9:01 am Eastern Time Company Press Release North American Exploration Corporation Announces New Transfer Agent, Certificate Exchange Procedure and Cancellation of Shares Issued to Tridon Enterprises Inc. -OTCBB:TEIM- as Nominee for a Former Director SALT LAKE CITY--(BUSINESS WIRE)--Aug. 25, 1998--North American Exploration Corporation (NAMX)(OTCBB: NAMXD - news) has recently appointed Interwest Transfer Company, Inc., as the Company's new transfer agent, replacing Holladay Stock Transfer, Inc. Interwest's offices are located at 1981 East Murray Holladay Road., Suite 100, Salt Lake City, Utah, 84117-5126. NAMX is working with the DTC and Interwest Transfer Company, Inc. to re-register share certificates held in the name of the DTC's nominee so that the certificates will be held in the name of the participating broker/dealer who lodged the shares with the DTC. We anticipate that this process could take two weeks or longer. To exchange old shares for new post-reverse-split shares, NAMX investors and brokers holding NAMX stock certificates are advised to send their certificates by registered mail to Interwest at the above address. The exchange will end on October 10, 1998. Evidence of ownership must accompany all certificates submitted for exchange as indicated in our press release of July 31, 1998. The most conclusive form of ownership is proof of payment. Refer to our website for additional instructions relating to the exchange and acceptable proofs of ownership. After careful consideration, The Board of Directors has determined that the Company did not receive adequate consideration in money or money's worth to support the issuance of 20,550,000 pre-reverse-split shares to Mr. Paul Ebeling, a former director. Pursuant to the Company's bylaws and Florida corporation statutes, the Board has directed that all such shares provided to Mr. Paul Ebeling and issued to his nominee, Tridon Enterprises Inc. [OTC BB:TEIM - news], be immediately canceled. The Company estimates that there are approximately 1.24 million post-reverse-split shares outstanding. The Company is continuing its efforts to identify all outstanding shares for which it has not received appropriate consideration. The board believes that the above information is accurate at the date of this press release, but makes no assessment or recommendation as to its materiality, or any effect that it may have on the future results of the company or on the company's share price. Contact: Company Contact: Joyce Miller North American Exploration Corp., Salt Lake City, Utah Voice: (801) 366-4771 Fax: (801) 366-4779 or Investor Relations Contact: ML/Communications Voice: (716) 442-2790 Fax: (716) 442-3227 NAMX Website: namx.com. More Quotes and News: North American Exploration Corp (OTC BB:NAMXD - news) Tridon Enterprises Inc (OTC BB:TEIM - news) Related News Categories: oil/energy

To: Hunter Vann who wrote (4385)	8/25/1998 5:18:00 PM
From: Sidney Reilly	Read Replies (1) \| Respond to of 4736

Congratulations Hunter. Perhaps you can finally put this sad saga behind you. I will also when I file my tax return for 1998 next year. I have gotten good at writing off losses, unfortunately. I don't particularly put any confidence in the press release today. If Paul paid for those shares he has to have proof. If he does he can just go to court and get his new stock cert, the company can't stop him. The real story is what they don't tell us, which is everything. 1. status of wells, ie. flow rates & revenue estimates, engineering reports on Ne fields 2. status of promised drilling program which is stalled 3. explain deal with Hoeffle Oil including continuous drilling clause, ie. do all wells in Ne revert to Hoeffle oil if NAMX defaults concerning continuous drilling? Does Hoeffle Oil get 40% to just maintain the wells? If so why are they so overpaid? 5. do any officers in NAMX have an undisclosed interest in Hoeffle Oil 4. status of UPR agreement, why has nothing happened in Colorado 5. what happened to financing they said they had in the bag in June 1st release (seems to me that things would be moving forward if they had this financing, so where is it) 6. progress towards previously promised goal of being a 12g reporting company 7. need I go on? Bob PS The bid has dropped again, not a good sign. I predict the ask will be .375 very soon instead of .50