Operating expenses for the three month period ended September 30, 2009 decreased by $139,013 or 51.9% to $129,024 from $268,037 for the comparable 2008 three-month period. This decrease is primarily a result of decreased professional and consulting fees for the current period. During the three months ended September 30, 2008, the Company incurred approximately $131,008 in legal fees, primarily for the litigation with Deep Well Oil & Gas, Inc. ("Deep Well") but this figure also includes SEC Counsel and other corporate matters, geological and engineering consulting fees, and consulting fees paid to the officers and/or directors in lieu of salaries.
The net loss for TAMM Oil and Gas Corp. for the three months ending September 30, 2009 decreased by $144,136 or 50.3%. This increase went from $142,360 from $286,496 for the same period in 2008.
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About Tamm Oil & Gas:
Tamm Oil & Gas Corp. is an emerging junior oil and gas exploration and development company based in Calgary, Alberta, Canada. The Company plans to add corporate asset value through the drilling and production of petroleum and heavy oil. Tamm has acquired 55 sections (35,200 acres) of oil and gas rights (Manning Properties), has a 50% working interest in a 276,000-acre (138,000 net acre) farm-in deal and has acquired 5,000 acres all in the Peace River Oil Sands Area of NW Alberta. The Company’s working interest is in petroleum, natural gas, and heavy oil rights on these lands. Released resource assessments estimates more than 3.1 billion original barrels of heavy oil-in-place for the Manning properties only, within the Mississippian Debolt and Elkton zones. The Tamm lands are also considered to be prospective for conventional light oil and natural gas.
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