TAMM Oil & Gas Corp.
OTC Bulletin Board : TAMO

September 23, 2009 19:46 ET

TAMM Oil and Gas Corp. Closes Acquisition of Additional Manning Acreage Increasing Original Oil Heavy Oil in Place to Over 3 Billion Barrels

CALGARY, ALBERTA--(Marketwire - Sept. 23, 2009) - TAMM Oil and Gas Corp. (OTCBB:TAMO) today announced that it has completed its necessary due diligence and internal geological assessments and has now closed the previously announced agreement to acquire an additional 7680 acres of Heavy Oil Leases and Petroleum and Natural Gas Leases in the Peace River region of Alberta from three private corporations. These new leases increase TAMM's land holdings in the Manning area to over 35,000 acres.

TAMM has issued in trust, pending full transfer of the leases, 17,000,000 restricted shares as consideration.

TAMM is presently commissioning an engineering report from a qualified independent Petroleum Engineering firm for a reliable determination of the estimated volume of original heavy oil in place within the consolidated acreage acquired at Manning to date.

The Engineering Report is intended to establish and quantify the amount of original heavy oil in place within in the Lower Cretaceous sands and Mississippian carbonates within the TAMM land holdings.

Don Hryhor, Director and Exploration advisor to the Board said, "The new lands acquired are complementary to our existing Manning holdings and are considered highly prospective.

"TAMM geologists have identified certain previously drilled wells in the region which show promising similarities (based on log analysis, lithological descriptions and hydrocarbon indications) particularly in comparison with other producing Mississippian carbonate oil wells in the Peace River region such as the Shell Chipmunk Field."

"The acquisition of these new properties is another significant milestone in TAMM's continued growth in the Manning area. This combined with the previously announced farmin agreement to acquire the Heavy Oil rights on up to 276,000 gross (138,000 net) acres in the Peace River area - has strongly positioned TAMM as a major player in the Alberta Carbonate Triangle which is estimated to host approximately 440 Billion Barrels of original heavy oil in place."

"TAMM intends to further examine geological information and acquire existing seismic data in order to define and high-grade recommended drilling prospects over the next few months. We anticipate drilling an initial well based on these findings during the upcoming winter season, and will determine locations for additional drilling of other prospects and follow up wells."

Visit the Tamm Oil and Gas website at http://www.tammoilandgas.com for more information on our land holdings in the Alberta Carbonate Triangle including a full report by on the new Carbonate revolution. For further information please contact Don Hryhor at (403) 686-1000.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS AND RISKS

Some of the statements in this press release are forward-looking statements and are based on current expectations, assumptions, and estimates. Words and phrases such as "believes", "expect, anticipate", are intended to identify forward-looking statements. Forward-looking statements carry certain risks regarding an assumed set of economic conditions and courses of action, including: (a) whether we will have sufficient financial resources to continue to meet our operational goals and future plans; and (b) the Report and its findings were not necessarily prepared in conformity with SEC disclosure principals or guidelines. There is a significant risk that actual material results will vary from projected results. No information provided in this press release should be construed as a representation or indication in any manner whatsoever of the present or future value of the Company or its common stock. Readers of information contained in this press release should carefully review the Company's filings with the Securities and Exchange Commission that contain important information regarding the Company's financial results, its future plans, and their limitations, and the risks involved with the Company's operations. The Company disclaims any responsibility to update forward-looking statements made herein.

Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms on this press release, such as prospective resource or Original Oil in Place, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10K. You can also obtain this form from the SEC by calling 1-800-SEC-0330. Additional information may be found at the following web site.

http://www.sec.gov/divisions/corpfin/guidance/cfoilgasinterps.htm

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