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North-West Oil Group Wins Bid for Oil/Gas Deposit 1:20p ET December 14, 2006 (Market Wire) North-West Oil Group (PINKSHEETS: NWOG) (FRANKFURT: CXIA) is pleased to announce that it has won the bid to purchase the reserves of Lugovskoe located in the oil-rich region of Saratov. The deposits cover an area of 11.6 km2. These reserves include 2,547,700 barrels of category C-1 oil and 13,000,000 cubic meters of gas.
The president, Mr. Malyshev, adds, "The deposit includes the required license for a period of 20 years and once the deal is completed extraction can commence in February 2007."
About North-West Oil Group (formerly Nord Oil International)
North-West Oil Group is a non-reporting, publicly traded Oil & Gas company trading under the ticker symbol NWOG on the U.S. Pinksheets market as well as on the Frankfurt Exchange under symbol CXIA. 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.
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sorry to break the bad news...we will have to move to the 'above .11' board'... ;-)
Nord has always been mysterious and unpredictable..I ve been into into it pre-split running all the way up to 1.5..a real weird stock but quite rewarding overall...
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