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North-West Oil Group Declares That the Company Is on the Final Stage of Purchasing OAO "NK Saratovneftegeofizika" Dec 5, 2006 2:16:00 PM MOSCOW -- (MARKET WIRE) -- 12/05/06 -- The president of North-West Oil Group (PINKSHEETS: NWOG) Mr. Ernest Malyshev declares that the company is on the final stage of purchasing OAO "NK Saratovneftegeofizika", which is oil, gas and condensate producing company located in the lower Volga basin within Saratov area, which is a mature petroleum region of Russia. According to technical opinion OAO "NK Saratovneftegeofizika" has the following total reserves:
The quality of the produced oil from these deposits shall obtain a premium price per barrel and this will economically provide a most efficient return. Natural gas will be exported to the GAZPROM network via a 1.7 km pipeline. In given opinion of experts by investing $ 5-10 million during 3 years, cost of the asset is going to reach $100 million.
The president of the company Mr. Ernest Malyshev connected the appearance of great volume sales of the shares on American market, according Pink Sheets 33,010,412 for the last two days of trading with the information mentioned above. The reason of purchasing the shares is caused by forecasts of significant growth cost of the share in the near future and increase of capitalization, in connection with purchasing of the new assets.
He has also added: "We are sincerely glad, that such great volume sales of the shares presented for last two days, undoubtedly, displays interest of public to the company and to the assets located in Russian Federation. We are extremely afflicted with the mistrust of those investors, who urgently sell out the shares, being blind to the future prospects of growth and development of the company and we welcome investors, who are purchasing the shares and we promise they stay satisfied with this acquisition
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yes.... . got creamed yesterday to 52 week low.... investors didn't like the cost of aquiring or something..... bounce back today ....
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I really like the action on AENG too.... bid moved right up now.... tons of volume today in the morning and no sell off... someone holding for something coming it seems.... volume picked up in Oct... but it dropped 10c to 5c then the last 3-5 days rising, then BOOM today
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I took some profit at .12, I'll re-enter after lunch. Steady buys all day, this thing is far from done. I'll check in with everyone later, I'm off to the gym... GLTA
-------------------- Success is having the time and money to enjoy all of life's wonders...
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