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PR for AFTERHOURS and THURSDAY 11/9
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[QUOTE]Originally posted by J_U_ICE: [QB] NDOL (.1475) Finalizing Purchase of Oil Terminal in Latvia Market Wire "US Press Releases " NEW YORK, NY -- (MARKET WIRE) -- 11/09/06 -- North-West Oil Group (PINKSHEETS: NDOL) (FRANKFURT: CXIA) (formerly Nord Oil International Inc.) announced today that it is finalizing the purchase of an oil terminal in the Port of Liepaja in Latvia. The terminal is currently being used for the transfer of oven fuel and vacuum gas oil. The main suppliers of those products are Mozyrsky and Novopolotsky refineries as well as refineries from Russia, Ukraine and Kazakhstan. Work is currently being conducted at the port in order to increase its depth that will be finished in 2007. Tanker traffic is expected to increase substantially after the work is completed. When the decision for purchase is finalized, the transaction will be completed before the end of November 2006. The Port of Liepaja enjoys the most southwestern location of Latvian ports. Because of its favorable geographic location, the port is one of two ice-free ports in Latvia that makes it a convenient transport link between Eastern and Western Europe even during the severest winters. The Port of Liepaja is part of the Liepaja Specialized Economic Zone (SEZ). Companies working in Freeports and North-West Oil Group shall receive up to an 80% tax discount. "This proposed purchase will allow us to increase the return from the sale of our own resources as well as to receive additional income from providing transfer services," said the President of North-West Oil Group, Mr. Ernest Malyshev. About North-West Oil Group North-West Oil Group is a reporting, publicly traded Oil & Gas company trading under the ticker symbol NDOL on the US Pink Sheets market as well as on the Frankfurt Exchange under symbol CXIA. Nord Oil International and the North-West Oil Group merged on May 11, 2006. Application has been filed for a new trading symbol. The company presently produces over 120,000 Metric Tons of crude oil yearly. Important Information About Forward-Looking Statements All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions. Contact: Ken Maciora Investor Relations 516-750-9719 Press*empirerelations.com [/QB][/QUOTE]
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