TAMM Oil's New JV Partner "Offers Significant Opportunities" for TAMM Oil by Controlling Major Oil sands Leases in Peace River, Alberta
ZURICH--(BUSINESS WIRE)-- Ernest C. Schlotter, a senior analyst with Zurich, Switzerland-based SISM Research has issued an executive summary on TAMM Oil and Gas Inc. (OTC:TAMO) or "Tamm Oil" in a three-page report dated October 22, 2012. The report gives an exclusive overview on Tamm Oil's ready to develop diversified oil sands portfolio located in the Peace River Area. Ernst Schlotter defines in his report specifically what opportunities the latest joint venture agreement actually means for Tamm Oil's future.
"In June 2012 TAMM Oil and Gas Corp. signed a binding agreement to enact a Joint Venture agreement with privately held CEC North Star Energy Ltd., based in Calgary, Alberta. This deal combines the assets of oilsands leases held by both companies in the Peace River Region into an Alberta based oil development corporation. TAMM transferred in trust pending closing, 14,720 acres of oilsands leases to CEC North Star in return for 5M+ shares of CEC North Star. The new entity will then control 53,760 acres of oilsands leases in the Manning Area. With this JV agreement when closed, TAMM will gain a diversified portfolio of oilsands leases, including twenty-five sections of conventional oilsands leaseholds, and thirty-six sections of land for conventional SAGD development with a short timeline goal for development and production.
Ernst explicitly stated that,"A work program has already started to obtain more 3D seismic data and to implement a core drilling program, targeting the Bluesky/Gething formations on the property. If successful an application for a primary recovering development or SAGD Pilot plant will be submitted to the ERCB within the next twelve months."he then concluded that "based on CEC's total properties evaluation, TAMM's ownership in the JV-deal is equivalent to $1.21 per TAMM share".
- Ernst Schlotter, SISM Tamm Oil & Gas Report 22.10.12
The full SISM Research report can be found at Tamm Oil's investor relations agent's website: http://www.helveticprime.com/files/SISM_Tamm_Oil_Research_Report_October_23_2012.pdf
About SISM Research
SISM Research (http://www.sism.com) is a private investment research firm, based in Zurich, Switzerland, offering independent, fundamental research on public companies since 1995. SISM Research publishes research on micro- to small-cap companies trading on the OTC, NASDAQ, AMEX and TSX stock exchanges. SISM research coverage platforms are geared toward institutional and individual investors in both North America and in Europe. SISM Research, as a member-provider of the FIRST Research Consortium (http://www.investrend.com/FIRST), takes steps to ensure the independence and integrity of SISM's published research that exceed those of the CFA Institute Code of Ethics and Standards of Professional Conduct and the CFA-NIRI Guidelines, by following the exacting "Standards for Independent Research Providers", which are also in accordance with guidance set forth by U.S. Securities and Exchange Commission's Advisory Committee on Smaller Public Companies.
This press release contains forward-looking statements concerning future events and the Company's growth and business strategy. Words such as "expects," "will," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Forward looking statements in this press release include statements about our drilling development program. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the timing and results of our 2012 drilling and development plan. Additional factors include increased expenses or unanticipated difficulties in drilling wells, actual production being less than our development tests, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with oil and gas operations in the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission including the Company's Annual Report on Form 10-K for the year ended December 31, 2011 and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2012. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
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 in this press release, such as "probable," "possible," "recoverable" or "potential" reserves among others, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. Investors are urged to consider closely the disclosure in our filings with the SEC.
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