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TAMM Oil and Gas Corp.: TAMM Oil and Gas Corp. Acquires Additional Manning Acreage Increasing Original Oil in Place to Over 3 B

^{Published on 2009-05-26 14:48:00, Last Modified on 2009-05-26 14:49:14 - Market Wire}
 

CALGARY, ALBERTA--(Marketwire - May 26, 2009) - TAMM Oil and Gas Corp. (OTCBB:TAMO) today announced that it has acquired an additional 7,860 Acres of in the Peace River region of Alberta from three private corporations. These new leases increase TAMM's land holdings in the Manning area to over 30,000 acres.

Upon transfer of the title to the leases, TAMM will issue 17,000,000 shares in full consideration.

TAMM has received an engineering report from a qualified independent Petroleum Engineering firm for the determination of heavy oil in place in the first 35 sections (22,400 acres) acquired at Manning. The Report determined that the Mississippian-aged Lower Debolt and Elkton member zones for these lands contain 2.33 billion barrels of Total Original Heavy Oil in Place.

Don Hryhor, Director and Exploration advisor said, "The new lands acquired are contiguous to our lands already owned and have increased our holding in the world class Manning project by 25 percent. These additions make TAMM a dominant player in the region."

"Carbonates are a major factor in the future of the oil industry. Major oil companies in our neighborhood have now proved new recovery technologies, making a significant portion of these prolific resources commercially viable even at these current low commodity prices. The decision to lock up these new resources is an important step in TAMM's continued growth. This has firmly positioned us as a major player in the Alberta Carbonate Triangle which holds 26 percent of the reported 1.7 trillion barrels of oil in place in Alberta."

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 ]