Tamm Oil and Gas Corp. has acquired 100 percent ownership of an additional 21 sections of oil sands leases in the Peace River region of Northern Alberta. This acquisition increases Tamm's holdings in the region, to potentially fuel the company's growth, as worldwide demand and prices for petroleum continue to rise.
"In a very short time, Tamm has increased its lease holdings. Over the past 4 months, we have managed to acquire direct and indirect ownership in 90 sections of leases and licenses. With oil prices hitting new record highs on a consistent basis, we have quickly positioned Tamm to potentially be a major player in the Canadian Oil Sands supply chain for years to come," says Wiktor Musial, President of Tamm Oil and Gas.
Mr. Musial added: "An earlier published engineering report estimated 819 million barrels of oil in place in the Sawn Lake Oil Sands Leases -- with the Company's newest lease acquisitions, Tamm's potential should increase even more. The first several months have proven to be very good for Tamm. Since our inception, we have been able to meet or surpass all of our major acquisition goals, thus making Tamm a fast growing Oil Sands company."
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