TAMM Oil & Gas Corp.
OTC Bulletin Board : TAMO

November 12, 2009 02:10 ET

TAMM Oil and Gas Corp. Releases Manning Reserves Assessment Report

CALGARY, ALBERTA--(Marketwire - Nov. 12, 2009) - TAMM Oil and Gas Corp. (OTCBB:TAMO) today announced that it has received an updated report from Chapman Petroleum Engineering Ltd. a qualified independent petroleum consulting firm in Calgary. The report provides the assessment and evaluation on the recently acquired Manning properties as announced on May 26, 2009 and includes the previously acquired properties - forming a largely contiguous block of over 30,000 acres.

This updated report is now posted on the TAMM website for review and provides an estimate of 3.14 billion barrels of original heavy oil in place hosted within the Mississippian Lower Debolt and Elkton carbonate formations in the TAMM holdings at Manning, Alberta.

Don Hryhor, Director and Exploration Advisor said, "We are pleased to receive independent confirmation of management's previous internal projections of the potential value and magnitude of reserves in the newly acquired lands at Manning, and we are presently reviewing technical information to determine optimum test well locations for the initial drilling program."

"The first test wells are intended to target possible "cold flow" targets identified by TAMM geologists as showing promising rock characteristics in previously drilled boreholes. Follow up wells are also planned to assess potential conventional oil and light/heavy oil accumulations within the Lower Cretaceous sands and Upper Mississippian carbonates.

"TAMM is presently investigating various recovery technologies to determine their suitability for possible implementation in our focus area at Manning. The decision to lock up these new resources has now been verified as an important step in TAMM's continued growth."

Please also refer to the TAMM Oil and Gas Corp. website at http://www.tammoilandgas.com.

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, 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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