Native American Energy Group, Inc. has commenced oil production on two wells in the Williston Basin in northeastern Montana. The company also announced that Zacks Investment Research has initiated analyst coverage of NAGP with an "Outperform" rating.

Production is now underway at the Wright 5-35 and Beery 2-24 wells. During August and September, the company completed electrical system repairs and upgrades to surface equipment and subsurface flow-lines.

The Wright well initially flowed approximately 62 barrels of oil in the first 18 hours and settled at 53 barrels of oil per day. The well will be pumped down over the next few days and the oil cut is expected to increase to approximately 50% based on previous swab testing and production results.

Tags: Native American Energy Group