North American Petroleum has acquired a 30% working interest in the Mathis Unit ('Mathis') which covers 960 gross acres in Osage County, Oklahoma ('the Acquisition') and is adjacent to two horizontal wells currently producing from the Mississippi Lime formation, in which NAP already holds a 28.7% working interest.

The Acquisition increases the value of NAP's proven reserves by 20% to US$21.05m and is in line with the Company's strategy to rapidly build net production and reserves by acquiring and developing leases in liquids rich hydrocarbon plays.

Tags: North American Petroleum Plc