NEW ORLEANS, LA — (Marketwire) — 10/17/11 — North American Energy Resources, Inc (PINKSHEETS: NAEY) today announced that its Board of Directors has approved the engagement of Pritchard Capital Partners, LLC as the Company–s exclusive financial advisor to assist it in evaluating certain strategic options for the Company, including potential acquisition opportunities and related financings.
Clinton W. Coldren, Chairman and CEO, commented, “We have been evaluating many attractive acquisition opportunities. The focus is primarily on Gulf Coast properties with existing production, upside drilling and redevelopment potential. The next step in the execution of our plan is to further concentrate on assets that meet our criteria and the capital necessary to accomplish our acquisition and return objectives.” Alan G. Massara, President and CFO, said, “The company has engaged Pritchard Capital to help significantly expand North American–s operations and growth through the potential acquisition of oil and gas assets that meet our objectives as well as any related financings. Pritchard Capital is highly regarded for its oil & gas expertise as well as its deep transaction experience, and we are delighted to have the firm serving as North American–s strategic and financial advisor.”
About North American Energy Resources, Inc.
North American Energy Resources (PINKSHEETS: NAEY) is an independent oil and natural gas company engaged in the acquisition, exploration and development of oil and natural gas properties and the production of oil and natural gas. The Company–s operations are currently in Oklahoma in the upstream segment of the oil and gas industry. The Company also has an interest in a pipeline in its area of operations which is currently shut-in but could be used for gathering its gas and the gas production of other producers.
This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements concerning anticipated future events and expectations that are not historical facts. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. The forward-looking statements in this document reflect management–s best judgment at the time they are made, but all such statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed in or implied by the statements herein. In addition, the following factors could affect the Company–s actual results and cause such results to differ materially from those expressed in forward-looking statements. Additional information concerning potential factors that could affect future financial results are set forth in the Company–s Annual Report on Form 10-K for the year ended April 30, 2011 and the Company–s Quarterly Report on Form 10-Q for the quarter ended July 31, 2011. Except as required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Mr. Coldren
504-561-1151