North American Energy Resources Inc., Austin, (OTCBB: NAEN) plans to complete the fourth well in its initial six-well package in the upper Bartlesville formation in Oklahoma between 1,270 and 1,290 feet. Logs also indicate a good coalbed-methane gas formation in the Mulkey and oil in the Wayside.

North American Energy president Ross Silvey says, “The logs indicate that a multiple zone completion effort may be financially feasible; however, we are cognizant of the potential chemical costs that could result from water contamination. Our goal is to be the low cost producer in the region while aggressively adding resources, so we will rely upon our experts to weigh the risk return ratio of a multiple completion of this well.”

North American Energy has oil and gas properties in the U.S., primarily in Oklahoma. SJP