North American Oil & Gas Corp. is pleased to provide the following update

  North American Oil & Gas Corp. is pleased to provide the following update

Chairman and CEO, Mr. Robert Rosenthal increases his equity stake in NAMG

PR Newswire

VENTURA, Calif., Feb. 3, 2014

VENTURA, Calif., Feb. 3, 2014 /PRNewswire/ -- North American Oil & Gas Corp.
(the "Company" or "NAMG") is pleased to announce President and CEO Mr. Robert
Rosenthal has increased his shareholding in NAMG. ASPS Energy Investments Ltd
("ASPS"), which is controlled by the Mr. Rosenthal, has converted its loan
into common shares of the Company.

The Company entered into a loan with ASPS on September 7, 2012 for the
principal sum of $50,000, with an interest rate of 3%. ASPS has elected to
convert the loan plus interest to date ($52,153.49) to Two Hundred-thousand,
Five Hundred-ninety (200,590) common shares based on the previous days close
(Friday, January 31, 2014) of $0.26 per share. After completion of the
transaction, Mr. Rosenthal, through ASPS, will hold 8,300,590 shares of common
stock, which represents [13.23%] of the Company's issued capital.

Mr. Rosenthal commented, "While the Company is in a position to repay this
obligation in cash, ASPS has elected to swap its debt to equity in a show of
faith in NAMG's assets and its future. Coupled with recent debt payments to
East West Petroleum, the Company has strengthened its balance sheet."
Furthermore, ASPS has agreed to a further 'lock up' agreement with the Company
stating that it will not sell any of its shares in 2014.

About North American Oil and Gas Corporation (OTCBB - NAMG)

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.

As of June 30, 2013, NAMG owned interests in approximately 8,243 gross acres
(4,944 net acres) in the southern San Joaquin Basin. 1) White Wolf 4,823
gross (2,098 net) acres; 2) Tejon Main 2,874 gross (2,600 net) acres; and 3)
Tejon Extension 546 gross (346 net) acres.

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, telephone: +1
805 643 0385, fax: +1 805 643 0211, Website:
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