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oilspec

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oilspec

Re: sometimes_right post# 44063

Thursday, 05/08/2008 12:19:23 AM

Thursday, May 08, 2008 12:19:23 AM

Post# of 46027
Sometimes: Note that an earlier PR indicated the audit would include 2006, 2007 and the Q1 of 2008. My son works as an auditor for Ernst & Young. Months ago he told me that for most US audits that he has seen, it takes about 6 weeks from the end of the quarter to report results. For Q1 ending on March 31, that's mid-May. Given that NWOG is effectively based in Russia, he guessed it would be closer to the end of May if the auditor did a proper job. So frankly, I'm GLAD they haven't posted results yet.

A year ago, Malyshev tried to pass off an audit only a few DAYS after the end of the quarter. That was absurd. Cash flow has to settle out and there is a LOT of work to be done to properly roll up results.

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