TAMM Oil and Gas Corp. Acquires Additional Land and Announces Planned Drilling Program
The Farmin Agreement provides that TAMM has the right to pay 100% of the costs to earn an undivided 100% of the Zentrum working interest in the land with Zentrum retaining a non-convertible 3% Gross Overriding Royalty Interest.
Don Hryhor, Director and Exploration advisor said, "This agreement is an addition to our existing land position in the Manning Area. Management is pleased with the exceptionally favourable earning terms as negotiated. A two well drilling program has received management approval and we are moving ahead to license two wells to be drilled on these additional properties with the goal of drilling this winter."
"As previously discussed - The initial test wells are intended to test possible "cold flow" targets identified by TAMM geologists as showing promising rock characteristics in previously drilled boreholes. Follow up wells are also planned to assess potential conventional oil and light/heavy oil accumulations within the Lower Cretaceous sands and Upper Mississippian carbonates.
Please also refer to the TAMM Oil and Gas Corp. website at http://www.tammoilandgas.com.
Contacts:
TAMM Oil and Gas Corp.
Don Hryhor
(403) 686-1000
Website: www.tammoilandgas.com
Email: info@tammoilandgas.com
TAMM Oil and Gas Corp. sets sights at 65,000 - 85,000 BOPD ultimate possible development potential at Manning, Alberta area
TAMM Oil and Gas Corp. (OTC BB:TAMO.OB) released a Progress Report today outlining planned activities on their Manning heavy oil project and initial exploration program forecasting an ultimate possible development potential of 65,000 -- 85,000 BOPD for the Manning area.
On November 12, 2009 TAMM announced it received an updated independent determination of 3.14 Billion barrels of heavy oil in place for the company's holdings at Manning prepared by Chapman Petroleum Engineering Ltd. of Calgary, Alberta.
Don Hryhor, Director and Exploration Advisor said, "TAMM is presently reviewing exploration potential for possible conventional and light-heavy oil prospects and "cold flow" drilling targets in preparation for the upcoming winter exploration program in our focus area at Manning."
"The initial direction of the exploration efforts will be to evaluate possible light oil targets, since such reserves would have a great impact on overall project economics and future development. The possible presence of light oil reserves on site would facilitate easy and inexpensive recovery of the known heavy oil reserves in place, and thus maximize profitability."
"It is estimated ultimate conventional oil potential could reach 3,000 -- 10,000 BOPD, and cold flow or heavy oil potential production requiring minimal stimulation could be in the order of an additional 5,000 -- 10,000 BOPD."
"Secondary recovery projects using cyclic steam or solvent injection, in situ commingling, or simple downhole heaters could result in significantly improved recovery factors which might be expected to result in a total ultimate production capability in the order of 60,000 to 85,000 BOPD throughout the Manning area based on a 25 year project life. This final phase would be subject to normal environmental review and regulatory approval which would likely take 2-3 years."
For further information please refer to the Corporate Update posted on TAMM's website at:
http://www.tammoilandgas.com/i/pdf/CorporateUpdate11-17-2009_Manning.pdf
To view the Chapman report refer to: http://www.tammoilandgas.com/i/pdf/Report_OSB.pdf
For further information please contact Don Hryhor at (403) 686-1000.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS AND RISKS
Some of the statements in this press release are forward-looking statements and are based on current expectations, assumptions, and estimates. Words and phrases such as "believes", "expect, anticipate", are intended to identify forward-looking statements. Forward-looking statements carry certain risks regarding an assumed set of economic conditions and courses of action, including: (a) whether we will have sufficient financial resources to continue to meet our operational goals and future plans; and (b) the Report and its findings were not necessarily prepared in conformity with SEC disclosure principals or guidelines. There is a significant risk that actual material results will vary from projected results. No information provided in this press release should be construed as a representation or indication in any manner whatsoever of the present or future value of the Company or its common stock. Readers of information contained in this press release should carefully review the Company's filings with the Securities and Exchange Commission that contain important information regarding the Company's financial results, its future plans, and their limitations, and the risks involved with the Company's operations. The Company disclaims any responsibility to update forward-looking statements made herein.
Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms, such as prospective resource or Original Oil in Place, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10K. You can also obtain this form from the SEC by calling 1-800-SEC-0330. Additional information may be found at the following web site.
http://www.sec.gov/divisions/corpfin/guidance/cfoilgasinterps.htm
Contact:
Contacts:
TAMM Oil and Gas Corp.
(403) 686-1000
Email: info@tammoilandgas.com
Website: www.tammoilandgas.com
TAMM Oil and Gas Corp. releases Manning Reserves Assessment Report
This updated report is now posted on the TAMM website for review and provides an estimate of 3.14 billion barrels of original heavy oil in place hosted within the Mississippian Lower Debolt and Elkton carbonate formations in the TAMM holdings at Manning, Alberta.
Don Hryhor, Director and Exploration Advisor said, "We are pleased to receive independent confirmation of management's previous internal projections of the potential value and magnitude of reserves in the newly acquired lands at Manning, and we are presently reviewing technical information to determine optimum test well locations for the initial drilling program."
"The first test wells are intended to target possible "cold flow" targets identified by TAMM geologists as showing promising rock characteristics in previously drilled boreholes. Follow up wells are also planned to assess potential conventional oil and light/heavy oil accumulations within the Lower Cretaceous sands and Upper Mississippian carbonates.
"TAMM is presently investigating various recovery technologies to determine their suitability for possible implementation in our focus area at Manning. The decision to lock up these new resources has now been verified as an important step in TAMM's continued growth."
Please also refer to the TAMM Oil and Gas Corp. website at http://www.tammoilandgas.com.
For further information please contact Don Hryhor at (403) 686-1000.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS AND RISKS
Some of the statements in this press release are forward-looking statements and are based on current expectations, assumptions, and estimates. Words and phrases such as "believes", "expect, anticipate", are intended to identify forward-looking statements. Forward-looking statements carry certain risks regarding an assumed set of economic conditions and courses of action, including: (a) whether we will have sufficient financial resources to continue to meet our operational goals and future plans; and (b) the Report and its findings were not necessarily prepared in conformity with SEC disclosure principals or guidelines. There is a significant risk that actual material results will vary from projected results. No information provided in this press release should be construed as a representation or indication in any manner whatsoever of the present or future value of the Company or its common stock. Readers of information contained in this press release should carefully review the Company's filings with the Securities and Exchange Commission that contain important information regarding the Company's financial results, its future plans, and their limitations, and the risks involved with the Company's operations. The Company disclaims any responsibility to update forward-looking statements made herein.
Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms, such as prospective resource or Original Oil in Place, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10K. You can also obtain this form from the SEC by calling 1-800-SEC-0330. Additional information may be found at the following web site.
http://www.sec.gov/divisions/corpfin/guidance/cfoilgasinterps.htm
Contact:
Contacts:
TAMM Oil and Gas Corp.
(403) 686-1000
Email: info@tammoilandgas.com
Website: www.tammoilandgas.com
TAMM Oil and Gas Corp. Closes Acquisition of Additional Manning Acreage Increasing Original Oil Heavy Oil in Place to Over 3 Billion Barrels
TAMM has issued in trust, pending full transfer of the leases, 17,000,000 restricted shares as consideration.
TAMM is presently commissioning an engineering report from a qualified independent Petroleum Engineering firm for a reliable determination of the estimated volume of original heavy oil in place within the consolidated acreage acquired at Manning to date.
The Engineering Report is intended to establish and quantify the amount of original heavy oil in place within in the Lower Cretaceous sands and Mississippian carbonates within the TAMM land holdings.
Don Hryhor, Director and Exploration advisor to the Board said, "The new lands acquired are complementary to our existing Manning holdings and are considered highly prospective.
"TAMM geologists have identified certain previously drilled wells in the region which show promising similarities (based on log analysis, lithological descriptions and hydrocarbon indications) particularly in comparison with other producing Mississippian carbonate oil wells in the Peace River region such as the Shell Chipmunk Field."
"The acquisition of these new properties is another significant milestone in TAMM's continued growth in the Manning area. This combined with the previously announced farmin agreement to acquire the Heavy Oil rights on up to 276,000 gross (138,000 net) acres in the Peace River area - has strongly positioned TAMM as a major player in the Alberta Carbonate Triangle which is estimated to host approximately 440 Billion Barrels of original heavy oil in place."
"TAMM intends to further examine geological information and acquire existing seismic data in order to define and high-grade recommended drilling prospects over the next few months. We anticipate drilling an initial well based on these findings during the upcoming winter season, and will determine locations for additional drilling of other prospects and follow up wells."
Visit the Tamm Oil and Gas website at http://www.tammoilandgas.com for more information on our land holdings in the Alberta Carbonate Triangle including a full report by on the new Carbonate revolution. For further information please contact Don Hryhor at (403) 686-1000.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS AND RISKS
Some of the statements in this press release are forward-looking statements and are based on current expectations, assumptions, and estimates. Words and phrases such as "believes", "expect, anticipate", are intended to identify forward-looking statements. Forward-looking statements carry certain risks regarding an assumed set of economic conditions and courses of action, including: (a) whether we will have sufficient financial resources to continue to meet our operational goals and future plans; and (b) the Report and its findings were not necessarily prepared in conformity with SEC disclosure principals or guidelines. There is a significant risk that actual material results will vary from projected results. No information provided in this press release should be construed as a representation or indication in any manner whatsoever of the present or future value of the Company or its common stock. Readers of information contained in this press release should carefully review the Company's filings with the Securities and Exchange Commission that contain important information regarding the Company's financial results, its future plans, and their limitations, and the risks involved with the Company's operations. The Company disclaims any responsibility to update forward-looking statements made herein.
Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms on this press release, such as prospective resource or Original Oil in Place, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10K. You can also obtain this form from the SEC by calling 1-800-SEC-0330. Additional information may be found at the following web site.
http://www.sec.gov/divisions/corpfin/guidance/cfoilgasinterps.htm
Contacts:
TAMM Oil and Gas Corp.
(403) 686-1000
Email: info@tammoilandgas.com
Website: www.tammoilandgas.com
TAMM Oil and Gas Corp. announces 276,000 Acre Farmin Agreement
The Agreement provides that TAMM has the right to pay 100 percent of the costs to earn 100 percent of the Zentrum working interest in the land with Zentrum retaining a 3 percent Gross Overriding Royalty Interest.
Don Hryhor, Director and Exploration advisor said, "This agreement is a major addition to our existing land position in the Peace River Area. The lands are in the area of our Manning project where an independent engineering evaluation determined the first 22,400 acres contained 2.33 billion barrels of Original Heavy Oil in Place.
This farmin on a net basis, increases TAMM's acreage potential by 400% and makes us one of the major players in this new heavy oil development area in Alberta. The new lands have prospective heavy oil targets in the Lower Cretaceous Bluesky and Wabaska sands which have substantial heavy oil production in other areas and have attracted major investment from around the world."
Visit the TAMM Oil and Gas website at http://www.tammoilandgas.com for more information on our land holdings in the Alberta Carbonate Triangle including a report on the new Carbonate Heavy Oil revolution. For further information please contact Don Hryhor at (403) 686-1000.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS AND RISKS
Some of the statements in this press release are forward-looking statements and are based on current expectations, assumptions, and estimates. Words and phrases such as "believes", "expect, anticipate", are intended to identify forward-looking statements. Forward-looking statements carry certain risks regarding an assumed set of economic conditions and courses of action, including: (a) whether we will have sufficient financial resources to continue to meet our operational goals and future plans; and (b) the Report and its findings were not necessarily prepared in conformity with SEC disclosure principals or guidelines. There is a significant risk that actual material results will vary from projected results. No information provided in this press release should be construed as a representation or indication in any manner whatsoever of the present or future value of the Company or its common stock. Readers of information contained in this press release should carefully review the Company's filings with the Securities and Exchange Commission that contain important information regarding the Company's financial results, its future plans, and their limitations, and the risks involved with the Company's operations. The Company disclaims any responsibility to update forward-looking statements made herein.
Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms, such as prospective resource or Original Oil in Place, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10K. You can also obtain this form from the SEC by calling 1-800-SEC-0330. Additional information may be found at the following web site.
http://www.sec.gov/divisions/corpfin/guidance/cfoilgasinterps.htm
Contact:
TAMM Oil and Gas Corp.
(403) 686-1000
Email: info@tammoilandgas.com
Website: http://www.tammoilandgas.com