North American Energy Resources Acquires Additional 25 Percent Interest in Gas Pipeline
AUSTIN, Texas, Nov. 5, 2008 (GLOBE NEWSWIRE) — North American Energy Resources, Inc. (OTCBB:NAEN), is pleased to announce that North American Energy Resources, Inc., through Apwash Pipeline, LLC, has increased its ownership stake in approximately 16 miles of a natural gas pipeline located in Washington County, Oklahoma from 49% to 75% ownership. The pipeline will provide service to approximately 11,500 acres of potential leases that contain multiple zones of oil and coalbed methane formations.
“As a result of obtaining a majority control in the natural gas pipeline, we will be able to maximize corporate profits from the transportation of natural gas produced from the wells we have drilled and the ones we will drill in the future,” stated Ross Silvey, President.
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.
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CONTACT: North American Energy Resources, Inc. Investor Contact: Ross Silvey (512) 944-9115