Press Release Source: Nord Oil International Inc.
Nord Oil International's Offer Turns to Merger Talks Monday May 8, 9:35 am ET
MONTREAL--(MARKET WIRE)--May 8, 2006 -- Nord Oil International Inc. (Other OTC:NDOL.PK - News) announced today that the board of directors of both Nord Oil and North-West Oil Group have worked through the last weekend and have signed a letter of intent for the benefit of all shareholders to merge the companies and create a truly dynamic oil and gas company. ADVERTISEMENT
The negotiated merger value was based on the recent unsolicited offer made by the North-West Oil Group and therefore providing a guideline on total value of the new entity.
Management expects to finalize and or agree on merger terms on or before May 12, 2006. "The combined entities will quickly exceed revenue expectations and profit," said Mr. Makarov, President of Nord Oil International Inc. "We were always hoping that the North-West Oil Group would agree to discuss a merger as oppose to an acquisition and if completed this will truly create substantial shareholder value from the great synergies existing between our companies," further added Mr. Makarov.
About Nord Oil International Inc.
Nord Oil International Inc. is a reporting publicly traded Oil & Gas junior company trading under the ticker symbol NDOL on the US Pinksheets market as well as on the Frankfurt Exchange under symbol CXIA.
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.
One thing is for sure they are bound to be a bigger company and Mngmt expects it to be substantially more value than the 2.17, so it sounds like another jack pot. I'd rather sell my shares at 3-4 than 2 and i'll even give a discount.
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