Currently trading as CLDDD
Update: North American Oil & Gas Corp. (OTC: CLDDD) has changed their ticker to: OTC: NAMG
North American Oil & Gas Corp. (OTC: NAMG) has been making an explosive move up in recent trading sessions from a start point of $0.50 the stock is now trading well over $1 and looks to be headed higher.
In the first week of Devember trading as CLDDD, they Company announced a merger with Lani LLC, a private San Joaquin focused oil and gas company targeting +16mmboe (pmean) gross Potential. They also announced a Private placement to East West Petroleum for $500,000 and a Farm out to Avere Energy Corp., a wholly owned subsidiary of East West Petroleum For $2.5m.This comes on the heels of a 19 for 1 forward split of the stock (hence the temporary extra D on the ticker symbol) and name change from Calendar Dragon to North American Oil & Gas Corp.
NAMG corporate structure is very clean and new. The Company has $0 revenue to date. $0 assets besides the $13k listed for the CalendarDragon.com website which is down and no longer in use by the Company and minimal debt. The forward split of the stock signals the start of a significant stock promotion. Still in the very early stages I will update as soon as specifics become known.
North American Oil and Gas Corporation is an oil and gas company. The Company is focused on the San Joaquin Basin, onshore California, with existing foundation assets targeting exploration and exploitation of high impact oil and gas projects located near infrastructure and existing discoveries.
The Company holds participation interests in approximately 5,000 gross acres (3,500 net) with most of the acres in two prospective areas named Tejon Extension and Tejon Main. The Tejon Extension and Tejon Main Project areas are situated between the Tejon North and Tejon Fields.
North American Oil and Gas recently concluded a farm out agreement with Avere Energy, a subsidiary of East West Petroleum which currently trades on the TSX Venture Exchange in Canada. Avere Energy Corp. will contribute $2.5 million to the joint work program, holding a 25% participation interest in Tejon Extension leases and a 21.25% participation interest in Tejon Main leases. The funds will be used to participate in the drilling of two exploratory wells and for acquiring additional joint leases in the area.
Conclusion: Currently trading at a market valuation approaching $80 million NAMG has no assets and $0 revenues to date. The recent name change, merger and forward split of the stock signal a stock promotion is in the works. How high the stock goes in the short term depends entirely on the $ budget and ability of the stocks promoters. Long term NAMG is a bad investment as the Company has no fundamentals.
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North American Oil & Gas Corp. (OTC: CLDD) (OTC: CLDDD) was incorporated as Calendar Dragon Inc. under the laws of the state of Nevada. In November 2012 they changed their name to North American Oil & Gas Corp.