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Article: United States: North American Energy Resources, Inc. Acquires Oil and Gas Lease from Chanticleer Holdings, Inc.
- Article from:
- TendersInfo
- Article date:
- July 10, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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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 ...
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