North American Oil and Gas Corporation has completed an exhaustive analysis on the recently acquired 3D survey covering its 3,429 gross acres (2,946 net acres) Tejon Area totals. The company has completed mapping and volumetric analysis of the 14 prospects previously identified, further refining their extent and reducing their associated technical risk. This work has allowed the company to prioritize its prospect inventory in terms of geologic risk, resource potential, drilling difficulty and permitting issues.
The prospects include 5 target horizons: the Eocene, Vedder, Jv, Olcese, Reserve and Transition Zone. All of these reservoirs are productive at the adjacent Tejon, North Tejon and Wheeler Ridge fields which have together produced over 175 million barrels of oil and gas in oil equivalent terms. The 3D survey has enhanced our understanding of the oil habitat at Tejon and North Tejon fields which were developed without the aid of this data. The new 3D interpretation clearly shows traps that were untested in the previous drilling campaigns because they did not have this data to drive their development programs. Most of NAMG's prospects are up-dip of this old production.