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SISM Research Analyst Ernest C. Schlotter Issues Research Note On Tamm Oil & Gas

Posted on: Monday, 31 March 2008, 09:01 CDT

(Investrend Research Syndicate) Ernest C. Schlotter, a senior analyst with SISM Research and a StarMine four star analyst, has released a Research Note on Tamm Oil & Gas (OTCBB: TAMO) dated March 28, 2008, stating the company's Sawn Lake Project "holds 3P recoverable reserves and up to 175 million barrels of oil".

The following is a summary of the full SISM report which includes important disclosures, disclaimers and analyst qualifications. The full SISM report on SCEY, including important disclosures, disclaimers, and analyst qualifications is available at http://www.sism.com and http://www.investrendresearch.com, or may be directly accessed via this link: http://www.investrend.com/Admin/Topics/Articles/Resources/53_12069106 73.pdf. Investors are advised to read disclosures carefully before trading in the equities of any enrolled company. (Due to its length, the URL above may need to be copied/pasted into your Internet browser's address field. Remove any extra spaces if they exist.)

Analyst Schlotter stated: "Pan Orient's (POE.V) Sawn Lake Project was recently valued by DeGolyer and MacNaughton, and based on 27.1 net sections, was calculated to hold net probable reserves of 72.9 million barrels and a net reserves PV10 value of $405 million. Tamm has 31.5 net sections in the same area, which can be valued at a net present value of $470.8 million, discounted at ten percent, based on DeGolyer and MacNaughton´s forecasted pricing. In February of 2004, Ryder Scott estimated that the Sawn Lake Project contained 819 million barrels of OOIP, while log analyses indicated up to 1.6 billion barrels of oil-in-place. In late 2004, AJM of Calgary estimated oil-in-place at 1.2 billion barrels, with the potential for significant expansion of resource. Three drilling programs in 2006 confirmed that Sawn Lake is a heavy oil play with the possibility of cold flow in some parts of the reservoir."

Schlotter also noted: "Tamm Oil and Gas has an attractive valuation, trading at thirty-one percent of its 2008E FDNAVPS. The SISM Research NAV breakdown, based on our per-barrel value assumptions on recent oil sands transaction metrics, is $6.56. We estimate that it will take approx. three to four years, on average, for an SAGD producer to convert contingent resources to reserves. Based on the DeGolyer and MacNaughton reserves appraisal report, just recently released, we arrived at a NAV breakdown of $4.12 for the Sawn Lake Project only."

SISM Research, based in Zurich, Switzerland, is a private investment research firm offering high-quality, independent, fundamental research on public companies since 1995. SISM Research writes, publishes and distributes research coverage on micro- to small-cap public companies trading on the OTC, NASDAQ and AMEX. This coverage is geared toward institutional and individual investors in both North America and in Europe, a market that represents more than 100 million people. SISM Research is a content provider to Thomson Financials OneAnalytics/FirstCall and Investext, Reuters Multex, Knobias and Investrend.

SISM Research subscribes to the exacting "Standards for Independent Research Providers" at http://www.firstresearchconsortium.com , as well as the CFA-NIRI Guidelines at http://www.cfainstitute.org . SISM's Research platform is also executed in accordance with Guidance set forth by U.S. Securities and Exchange Commission's Advisory Committee on Smaller Public Companies at http://www.sec.gov/info/smallbus/acspc/acspc-finalreport_d.pdf.

Alphatron AG, the Company's IR firm has retained and is paying SISM Research $1,850 per month over a two-year period to ensure independent coverage. SISM Research takes steps to ensure independence including setting fees in advance and utilizing analysts who must abide by CFA Institute Code of Ethics and Standards of Professional Conduct. Additionally, analysts may not trade in any security under coverage. Complete information about this company is available at the company's InvestorPower™ page accessible from http://www.investrend.com/company/list.asp?sPathParam=yes .

Anyone interested in receiving alerts regarding Tamm Oil & Gas research should email firstalert@investrend.com or info@sism.com with "TAMO" in the subject line.

Statements in this announcement that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results.

Source: Business Wire

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