North American Energy Resources, Inc. Acquires Oil and Gas Lease from Chanticleer...

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Tue Jul 7, 2009 10:01am EDT

North American Energy Resources, Inc. Acquires Oil and Gas Lease from
Chanticleer Holdings, Inc.

AUSTIN, Texas, July 7, 2009 (GLOBE NEWSWIRE) -- North American Energy Resources,
Inc. (OTCBB:NAEY) announced today that the company has acquired the Wiser Lease
in Washington County Oklahoma in exchange for restricted common stock. The lease
has ten existing oil and gas wells, including the Blackstone well with its
recent oil discovery in the Dewey sand.

North American Energy Resource's consulting engineer estimates recompletion
costs of $8,000 per well with potential recovery of 100,000 barrels of oil based
upon recoverable reserves of 2,000 barrels per acre. In addition, the Wiser
lease is adjacent to the Company's majority owned Apwash pipeline system so that
all gas production has a readily available market.

"This is a wonderful acquisition for our company, and it fits perfectly into our
established business model of recompleting wells at a lower cost. Due to this
lease's strategic location near our pipeline and its potential production, we
believe this property will be a steady contributor to our ongoing success,"
stated Ross Silvey, President of North American Energy Resources, Inc.

About North American Energy Resources, Inc.

North American Energy Resources, Inc. ("NAEY") is an oil and gas exploration
company which focuses on properties in Northern Oklahoma. Its wells produce both
oil and/or natural gas, with gas production coming primarily from the mulky coal
seam.

Safe Harbor: Statements regarding financial matters in this press release other
than historical facts are "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The Company intends that such statements about
the Company's future expectations, including future revenues and earnings,
technology efficacy and all other forward-looking statements be subject to the
Safe Harbors created thereby. The Company is a development stage firm that
continues to be dependent upon outside capital to sustain its existence. Since
these statements (future operational results and sales) involve risks and
uncertainties and are subject to change at any time, the Company's actual
results may differ materially from expected results.

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