TAMM Oil & Gas Corp.
OTC Bulletin Board : TAMO

November 17, 2009 14:42 ET

TAMM Oil and Gas Corp. Sets Sights at 65,000- 85,000 BOPD Ultimate Possible Development Potential at Manning, Alberta Area

CALGARY, ALBERTA--(Marketwire - Nov. 17, 2009) - TAMM Oil and Gas Corp. (OTCBB:TAMO) released a Progress Report today outlining planned activities on their Manning heavy oil project and initial exploration program forecasting an ultimate possible development potential of 65,000 – 85,000 BOPD for the Manning area.

On November 12, 2009 TAMM announced it received an updated independent determination of 3.14 Billion barrels of heavy oil in place for the company's holdings at Manning prepared by Chapman Petroleum Engineering Ltd. of Calgary, Alberta.

Don Hryhor, Director and Exploration Advisor said, "TAMM is presently reviewing exploration potential for possible conventional and light-heavy oil prospects and "cold flow" drilling targets in preparation for the upcoming winter exploration program in our focus area at Manning."

"The initial direction of the exploration efforts will be to evaluate possible light oil targets, since such reserves would have a great impact on overall project economics and future development. The possible presence of light oil reserves on site would facilitate easy and inexpensive recovery of the known heavy oil reserves in place, and thus maximize profitability."

"It is estimated ultimate conventional oil potential could reach 3,000 – 10,000 BOPD, and cold flow or heavy oil potential production requiring minimal stimulation could be in the order of an additional 5,000 – 10,000 BOPD."

"Secondary recovery projects using cyclic steam or solvent injection, in situ commingling, or simple downhole heaters could result in significantly improved recovery factors which might be expected to result in a total ultimate production capability in the order of 60,000 to 85,000 BOPD throughout the Manning area based on a 25 year project life. This final phase would be subject to normal environmental review and regulatory approval which would likely take 2-3 years."

For further information please refer to the Corporate Update posted on TAMM's website at: http://www.tammoilandgas.com/i/pdf/CorporateUpdate11-17-2009_Manning.pdf

To view the Chapman report refer to: http://www.tammoilandgas.com/i/pdf/Report_OSB.pdf

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, 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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