Message #9 From:
NewsBot Date: October 10, 2006 07:14:00 AM
NVMG News NAEG Granted License to Build Affordable, Safe, Energy-Efficient Homes on All Federally Recognized U.S. Indian Reservations
FOREST HILLS, N.Y.--(BUSINESS WIRE)--Native American Energy Group, Inc. (the "Company" or "NAEG") (OTC Pink
Sheets: NVMG), a company that specializes in locating and revitalizing
shut-in production and/or abandoned oil fields on and off tribal lands,
is pleased to announce that on October 4, 2006, the Company signed a
Joint Venture Profit Share Agreement with homebuilder, Eurowest Panel
Homes Ltd., a corporation organized and existing under the laws of the
Province of Alberta (“Eurowest”),
in which Native American Energy Group (NAEG), as Master Licensee, was
granted an exclusive, non-transferable right to use the Patents,
Trade-marks and the Systems Knowledge in connection with the Licensee’s
manufacture, sale and distribution of CSPS, and related products, as
well as the use of the Patents, Trade-marks and Systems Knowledge,
within the Territory (the “License”).
Said Territory includes all 562 Native American Indian Tribes and all
Native American reservations in the Unites States recognized by the
United States Department of Interior – Bureau
of Indian Affairs, as well as and including, the non-tribal lands in the
following states in the Northwest Region of the United States of
America: Montana, Wyoming, North Dakota, South Dakota, Idaho, Oregon,
Washington.
NAEG’s CEO, Joseph D’Arrigo,
stated, “We’ve been
helping the native Montana community of Fort Peck, where our Company is
established, to use their energy resources as the foundation for
building a stable economy… since oil is NAEG’s
main business, however, our study of this area has lead our Board to
conclude that a multi-faceted approach was really in order. This joint
initiative with Eurowest, at once, provides access to the affordable
housing market on the reservations, and throughout the northwestern U.S.
to our Canadian Partner, while at the same time it allows NAEG the
chance to help expand homeownership opportunities within Native American
communities here and elsewhere by creating safe, efficient, affordable
housing. Therefore, Eurowest Panel Homes Ltd. and Native American Energy
Group, Inc. (NAEG), the Licensee, will operate on a (50% / 50%) fifty /
fifty profit share basis regarding all net profits after expenses on
this particular project. The protocol also calls for a jointly owned
manufacturing plant to be established on the reservation, and a complete
technology transfer.”“Upon
our receiving the approvals,” D’Arrigo
added, “upon introducing this technology to
Indian Country, Eurowest will supply a ‘model
home’ to be placed at an agreed location for
marketing the Eurowest Panel Home Technology.”
About the Eurowest Technology
Eurowest has developed a unique, cost-effective method of manufacturing
a Cellular Cement Filled Steel Panel System for residential homes,
commercial buildings, warehouses, farm buildings and other structures
that has been perfected during the past several years, and a patented
process which also includes a Polymer Stucco Coating on the exterior and
interior of the steel panels referred to as the “Eurowest
Panel System.” The Joint Venture will
also market the value added on products such as the solar panels, water
and sewage treatments and garbage handling technologies.
The “Eurowest Panel System”
offers significant advantages over the conventional wood-framed, log,
stone, concrete and brick buildings:
Reduced overall cost
Reduced manufacturing and erection time
Easy to mass produce in any part of the Globe
Requires only minimal skills to erect
Easy to assemble or disassemble and move
Superior strength
Will not shrink, warp, split, swell, rot, or rust
Withstands winds in excess of 200 km/hr
Earthquake resistance to seismic zone 4
Fire-resistant
Burglar resistant
Termite and rodent proof
Lower Insurance Cost
Preservation of trees
Steel is 100% Recyclable
Eurowest has been operating its research and design, prototype plant at
a facility in Northeast Calgary, just North of NAEG’s
oil & gas operations, which are just 60 miles from the Canadian border.
Eurowest also has an office in the Philippines whereby factory plant
equipment required is manufactured. During 1999, Eurowest established a
connection with Mexico when it contracted to build 100 homes there, and
the company began to receive some favorable press. A newspaper article
entitled, “Calgary firm ships prefab homes to
Mexico” can be seen at the following link
that also includes a current photograph of a one of their finished
houses:
An “Immediate Need”
of 200,000 housing units is estimated in Indian country, * and
approximately 90,000 Native families are homeless or under-housed. *
(U.S. Commission on Civil Rights, "A Quiet Crisis: Federal Funding and
Unmet Needs in Indian Country," 2003) The average cost of a new home on
a reservation is $125,000. (U.S. Department of Housing and Urban
Development [HUD],
2003), however, the Native American homeownership rate is estimated to
be as low as 33%, lowest among all ethnic groups and less than half the
rate for the general U.S. population. ("Homeownership in Indian
Country," The Enterprise Institute, 2004)
Statement of Pattye Green, Senior Business Manager, Fannie Mae
Speaking before the Committee on House Financial Services Subcommittee
on Housing and Community Opportunity on July 31, 2006, Pattye Green
emphasized that, “Finding ways to create
affordable housing opportunities for Native American families living on
tribal lands is one of the toughest challenges we face. …We
all know too well the statistics regarding Native American housing. The
homeownership rate on reservations is 41 percent, well below the
national average of 68 percent. Native Americans have chronic housing
problems -- overcrowding, substandard conditions, inadequate
infrastructure and a lack of affordable financing. According to the
National American Indian Housing Council, nearly 33 percent of homes on
tribal lands-more than six times the national average-are overcrowded,
less than half of the homes in Indian Country are connected to public
sewer systems, and 16 percent of these homes lack complete indoor
plumbing. Almost half of Indian households pay more than 30 percent of
their income for housing expenses, compared to 23 percent of all
households in the U.S.” In addition, she
stated however that, “Fannie Mae has worked
closely with tribes and other housing partners to support both the
construction of new units and rehabilitation of existing units through
investments in low- income housing tax credit investments (LIHTC),
collateralized revenue bonds, and HUD guaranteed Native American Housing
Assistance and Self Determination Act (NAHASDA) Title VI loans. We have
also begun to provide Tribal Housing Authorities with additional
financing via our Community Lending business channel to help bridge
funding gaps during the construction phase of their developments.”
Conclusion
Back in May of this year, Joseph D’Arrigo,
Chief Executive Officer, and Raj Nanvaan, Chief Financial Officer of
Native American Energy Group attended the Council of Energy Resource
Tribes conference (CERT) in Denver Colorado where they had the
opportunity to meet with directors and administrators from various
organizations such as the U.S. Department of Housing & Urban Development
(HUD), U.S. Department of Energy (DOE), as well as, Joe Garcia, the
President of the National Congress of American Indians (NCAI). These
organizations work together in promoting self determination among Native
American tribes in the United States by implementing programs and
workshops to educate, guide and assist them in achieving their
objectives, and to promote economic development in these various regions.
Since then, NAEG has been in contact with these organizations as well as
housing authorities of many reservations in the country to implement a
plan of action geared to assist Indian Country in meeting this demand of
over 200,000 homes. This action would not only provide housing for those
in need, but also stimulate the economies by providing employment
opportunities, as well.
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.
