AUSTIN, Texas, Nov. 20, 2008 (GLOBE NEWSWIRE) -- North American Energy Resources, Inc. (OTCBB:NAEN) announced that it intends to complete the fourth well in its initial six well package in the upper Bartlesville formation between 1,270 and 1,290 feet. Logs also indicate a good coal bed methane gas formation in the Mulkey and oil in the Wayside.
"The logs indicate that a multiple zone completion effort may be financially feasible; however, we are cognizant of the potential chemical costs that could result from water contamination. Our goal is to be the low cost producer in the region while aggressively adding resources, so we will rely upon our experts to weigh the risk return ratio of a multiple completion of this well," stated Ross Silvey, President of NAEN.
Forward-Looking Statements in this news release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks, and uncertainties and actual results could differ from those discussed. This material is information only, and is not an offer or solicitation to buy or sell the securities.