Article: United States: North American Energy Resources, Inc. Acquires Oil and Gas Lease from Chanticleer Holdings, Inc.

Byline: manish03

North American Energy Resources, Inc. announced today that the company has acquired the Wiser Lease in Washington County Oklahoma in exchange for restricted common stock. The lease has ten existing oil and gas wells, including the Blackstone well with its recent oil discovery in the Dewey sand.

North American Energy Resource's consulting engineer estimates recompletion costs of $8,000 per well with potential recovery of 100,000 barrels of oil based upon recoverable reserves of 2,000 barrels per acre. In addition, the Wiser lease is adjacent to the Company's majority owned Apwash pipeline system so that all gas production has a readily ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!