Science & Technology
Science and Technology
Science and Technology
Mon, June 29, 2009
Sun, June 28, 2009
TAMM Oil & Gas Corp.: TAMM Oil and Gas Corp. Announces 276,000 Acre Farmin Agreement
CALGARY, ALBERTA--(Marketwire - June 29, 2009) - TAMM Oil and Gas Corp. (OTCBB:TAMO) today announced that it has entered into a Farmin agreement to acquire the Heavy Oil rights on up to 276,000 gross (138,000 net) acres through Zentrum Energie Trust, AG ("Zentrum") of Switzerland in the Peace River area of Northwest Alberta Canada.
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 ]
