CA oil exploration update from North American Oil & Gas

Source:North American Oil & Gas

After drilling the Pass Exploration well, on budget, to a total depth of 7,550 feet to test the Tejon Extension prospect, a total of four zones were tested. A small amount of light oil was recovered in one test at depths between 7,120-7,180. North American Oil and Gas Corporation (NAMG), the project operator, has released the rig, pending more detailed petrophysical and geological studies. Additional testing of a shallow zone is anticipated at a later date. NAMG holds a 75% participation interest. East West Petroleum, through its 100%-owned U.S. subsidiary Avere Energy Corp., holds a 25% participation interest in the Tejon Extension prospect.

The Company also announced that ongoing leasing activities in the southern sector of the San Joaquin Basin with EWP has now built the Company’s total acreage position to more than 8000 gross acres. The majority of the new acreage additions have been acquired in an emerging new play area named the Project Lani, where NAMG holds a 50% participation interest.

North American Oil and Gas Corporation (“NAMG”) is a publicly listed (OTCBB - NAMG) oil and gas company. The Company is focused on the prolific San Joaquin Basin, onshore California, with existing foundation assets targeting exploration and exploitation of high impact oil and gas projects located near infrastructure and existing discoveries.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Evolution or Revolution: IT / OT convergence means a world of possibilities

The oil and gas industry is experiencing a rapid paradigm shift in regards to digital transformat...

Predict, Prescribe, Profit: Creating a World that Doesn't Break Down

What are you doing to reduce unplanned downtime at your plant? Equipment breakdowns and process i...

A Traders Guide to Analysis and Research

An e-book dedicated to helping you improve your analysis by looking at RBOB futures performance. ...

Storm Impact Analytics for Utilities

In recent years, increasingly volatile and extreme weather events have significantly impacted the...

Latest PennEnergy Jobs