North American Oil and Gas Update
VENTURA, Calif., Jan. 30, 2014
VENTURA, Calif., Jan. 30, 2014 /PRNewswire/ --The North American Oil & Gas
Corp. ("Company") has received many inquiries from shareholders regarding the
stock positions of the officers and directors of the Company, and would like
to take this opportunity to clarify their holdings. While up to date
information is available on the Securities and Exchange Commission's website,
the information set forth below addresses the holdings of three of the
Company's largest shareholders (the "Affiliated Holders"), including two
members of the Company's board of directors.
As of December 1, 2013 a total of 24,300,000 shares of the Company's common
stock are held equally between the three Affiliated Holders. To date, two of
the three Affiliated Holders have declared their intention to sell a total of
less than 5.0% of the total amount held by the Affiliated Holders. The two
shareholders concerned have agreed with the Company to sell no more than
10,000 shares per day subject to market conditions.
The third Affiliated Holder, ASPS Energy Investments Ltd, which is controlled
by the Company's CEO Robert Rosenthal, has not sold any shares in the Company
and Mr. Rosenthal has stated publically that he has no plans to sell any such
stock in 2014. In addition, Mr. Rosenthal, along with both of the other
Affiliated Holders have signed a further 'lock-up' agreement with the Company
stating that no further shares will be sold in 2014 by the three Affiliated
In addition, Mr. Rosenthal states that "the Company is aggressively working
towards its drilling and testing program for 2014, and expects to achieve
significant progress towards our goals."
About North American Oil and Gas Corporation (OTCBB - NAMG)
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.
This press release contains "forward-looking information" that is based on the
Company's current expectations, estimates, forecasts and projections. This
forward-looking information includes, among other things, statements with
respect to the Company's plans, outlook, business strategy and exploration and
development of the Company's properties. The words "may", "would", "could",
"should", "will", "likely", "expect", "anticipate", "intend", "estimate",
"plan", "forecast", "project" and "believe" or other similar words and phrases
are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the Company's actual results,
level of activity, performance or achievements to be materially different from
those expressed or implied by such forward-looking information. Such factors
include, but are not limited to: the ability to raise sufficient capital to
fund exploration and development; the quantity of and future net revenues from
the Company's reserves; oil and natural gas production levels; commodity
prices, foreign currency exchange rates and interest rates; capital
expenditure programs and other expenditures; supply and demand for oil and
natural gas; schedules and timing of certain projects and the Company's
strategy for growth; competitive conditions; the Company's future operating
and financial results; and treatment under governmental and other regulatory
regimes and tax, environmental and other laws.
This list is not exhaustive of the factors that may affect our forward-looking
information. These and other factors should be considered carefully and
readers should not place undue reliance on such forward-looking information.
The Company disclaims any intention or obligation to update or revise
forward-looking information, whether as a result of new information, future
events or otherwise.
SOURCE North American Oil and Gas Corporation
Contact: Robert (Bob) Rosenthal, Chairman, President and CEO, +1 805 643 0385,
fax: +1 805 643 0211
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