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Native American Energy Group Orders NOBO List to Clarify Ownership and Address Potential Short Positions.

FOREST HILLS, N.Y. -- Native American Energy Group, Inc. (the "Company" or "NAEG") (OTC Pink Sheets: NVMG) announced that it has ordered the latest NOBO information for analysis and comparison in order to clarify all owners of its issued and outstanding shares and address potential short positions in NAEG's stock that management believes needs to be researched and examined to ensure integrity in the marketplace for its shares.

The NOBO list is a non-objecting beneficial owners list that offers the names and share positions of the clients of banks and brokers who hold their positions in street name. Company management elaborated that it will analyze current NOBO information to monitor shifts in shareholder positions, verify (non-objecting) beneficial owner and institutional positions, and collate NOBO provided data with that of other Company sources including the Company's transfer agent list.

After comparing the NOBO list to the current transfer agent list, the company will be able to determine if there is a share imbalance or a significant failure to deliver position in their stock. If the Company's research and examination does find an imbalance in regards to the reported short positions, the company will act to correct the problem.

"We will diligently review, examine and, in effect, audit our share numbers to give the Company a concise look at the specific ownership positions of NAEG's shares. The use of this information will increase the Company's visibility and emphasize our resolve to increase shareholder value through the fair and proper market valuation of our stock," commented, Director Richard Ross.

About Native American Energy Group, Inc. (OTC Pink Sheets:NVMG) http://www.nativeamericanenergy.com/aboutus.htm

NAEG's previous achievements can be accessed on the Investor Relations page: http://www.nativeamericanenergy.com/investorrelations.htm

Safe Harbor Statement: This News Release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and section 21E of the United States Securities & Exchange Act of 1934, as amended, with respect to corporate objectives, projections, estimates, operations, acquisition and development of various interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein.
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Publication:Business Wire
Date:Oct 17, 2006
Words:388
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