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MGGV - Ready to explode
8 million float
already 40 times daily moving average
in the gold sector!
i am in!
MGGV - Ready to explode
8 million float
already 40 times daily moving average
in the gold sector!
i am in!
MGGV - Ready to explode
8 million float
already 40 times daily moving average
in the gold sector!
i am in!
MGGV - Ready to explode
8 million float
already 40 times daily moving average
in the gold sector!
i am in!
NDOL & AURC will soar today
Ndol PR coming today, going to prove that this is a company with a share value of over $2. Remember they turned down the $2.17 a share buyout for this merger!
AURC is run by the same management. Has reserves of 7.1 million ounces of gold worth $6 billion almost. Market cap of only $27 million. Once Ndol's PR shows that Ndol's oil reserves were true, this will legitimize AURCs gold reserves and send it soaring.
AURC and NDOL My two Picks of the Year!
NDOL & AURC will soar today
Ndol PR coming today, going to prove that this is a company with a share value of over $2. Remember they turned down the $2.17 a share buyout for this merger!
AURC is run by the same management. Has reserves of 7.1 million ounces of gold worth $6 billion almost. Market cap of only $27 million. Once Ndol's PR shows that Ndol's oil reserves were true, this will legitimize AURCs gold reserves and send it soaring.
AURC and NDOL My two Picks of the Year!
Huge bargain price!
With gold up today as well as a Huge JV PR by nodol and the e4xpected PR about the finalized merger, will really give confidence to AURC. I'm going in at open for any shares I can get under 27 cents.
NDOL Huge News + More coming
Check out the news. Joint venture with Oil India. Now the 8k confirming a 1.25 billion merger will be out later today. This stock is gonna be a 5 bagger in a month.
Nord Oil / the North-West Oil Group to Create a Joint-Venture With Oil India, India's Leading Oil and Gas State Enterprise
Tuesday May 23, 9:00 am ET
MONTREAL--(MARKET WIRE)--May 23, 2006 -- Nord Oil / The North-West Oil Group (Other OTC:NDOL.PK - News) and its president Mr. Ernest Malyshev are pleased to announce today that they are finalizing negotiations with Oil India, a leading oil and gas state enterprise for the creation of a joint venture to develop the Russian Oil market.
The Russian Oil Market constitutes approximately 49 billion barrels of proven oil reserves (4.8% of world's reserves) ranking six in the world. At the moment about 2,000 oil and gas deposits have been discovered in the territory of 36 out of 89 Russian subjects. Hydrocarbon material is produced in 30 out of those 36.
The maintaining of production rate requires state and private investments both in the upgrading of oil production and improvement of infrastructure and the newly formed joint venture will actively participate in such endeavors.
The company expects to timely release further details on the joint venture and its marketing plans, initial contracts and agreements.
About Oil India
Oil India Limited (OIL) is a premier Indian National oil company under the administrative control of Ministry of Petroleum and Natural Gas, Govt. of India. OIL is engaged in the business of Exploration, Development and Production of Crude Oil and Natural Gas, Transportation of Crude Oil and Production of LPG. The Company has over 1 lakh sq. km. of license areas. OIL's exploratory efforts has led to discovery of 85 oil & gas fields with total established in-place reserves of 842 MMT of oil & oil equivalent of gas as on 01.04.2002.
The Company presently produces over 3.2 MMTPA of crude oil, over 5 MMSCMD of Natural Gas and over 50,000 Tonnes of LPG annually. Most of this emanates from its traditionally rich oil and gas fields concentrated in the North-Eastern part of India and contributes to over 65% of total oil+gas produced in the region. The search for newer avenues has seen OIL spreading out its operations in onshore / offshore Orissa and Andaman, deserts of Rajasthan, plains of Uttar Pradesh, riverbeds of Brahmaputra and offshore Saurashtra. In Rajasthan, OIL discovered gas in 1988, heavy oil / bitumen in 1991 and started production of gas in 1996.
About Nord Oil / the North-West Oil Group
Nord Oil International Inc. is a reporting publicly traded Oil & Gas company trading under the ticker symbol NDOL on the US Pinksheets 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. The company is in the process of filing all regulatory statements and will change its name to the North-West Oil Group and will be issued a new ticker symbol. The company presently produces over 120,000 Metric Tons of crude oil yearly.
NDOL Huge News + More coming
Check out the news. Joint venture with Oil India. Now the 8k confirming a 1.25 billion merger will be out later today. This stock is gonna be a 5 bagger in a month.
Nord Oil / the North-West Oil Group to Create a Joint-Venture With Oil India, India's Leading Oil and Gas State Enterprise
Tuesday May 23, 9:00 am ET
MONTREAL--(MARKET WIRE)--May 23, 2006 -- Nord Oil / The North-West Oil Group (Other OTC:NDOL.PK - News) and its president Mr. Ernest Malyshev are pleased to announce today that they are finalizing negotiations with Oil India, a leading oil and gas state enterprise for the creation of a joint venture to develop the Russian Oil market.
The Russian Oil Market constitutes approximately 49 billion barrels of proven oil reserves (4.8% of world's reserves) ranking six in the world. At the moment about 2,000 oil and gas deposits have been discovered in the territory of 36 out of 89 Russian subjects. Hydrocarbon material is produced in 30 out of those 36.
The maintaining of production rate requires state and private investments both in the upgrading of oil production and improvement of infrastructure and the newly formed joint venture will actively participate in such endeavors.
The company expects to timely release further details on the joint venture and its marketing plans, initial contracts and agreements.
About Oil India
Oil India Limited (OIL) is a premier Indian National oil company under the administrative control of Ministry of Petroleum and Natural Gas, Govt. of India. OIL is engaged in the business of Exploration, Development and Production of Crude Oil and Natural Gas, Transportation of Crude Oil and Production of LPG. The Company has over 1 lakh sq. km. of license areas. OIL's exploratory efforts has led to discovery of 85 oil & gas fields with total established in-place reserves of 842 MMT of oil & oil equivalent of gas as on 01.04.2002.
The Company presently produces over 3.2 MMTPA of crude oil, over 5 MMSCMD of Natural Gas and over 50,000 Tonnes of LPG annually. Most of this emanates from its traditionally rich oil and gas fields concentrated in the North-Eastern part of India and contributes to over 65% of total oil+gas produced in the region. The search for newer avenues has seen OIL spreading out its operations in onshore / offshore Orissa and Andaman, deserts of Rajasthan, plains of Uttar Pradesh, riverbeds of Brahmaputra and offshore Saurashtra. In Rajasthan, OIL discovered gas in 1988, heavy oil / bitumen in 1991 and started production of gas in 1996.
About Nord Oil / the North-West Oil Group
Nord Oil International Inc. is a reporting publicly traded Oil & Gas company trading under the ticker symbol NDOL on the US Pinksheets 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. The company is in the process of filing all regulatory statements and will change its name to the North-West Oil Group and will be issued a new ticker symbol. The company presently produces over 120,000 Metric Tons of crude oil yearly.
NDOL Huge News + More coming
Check out the news. Joint venture with Oil India. Now the 8k confirming a 1.25 billion merger will be out later today. This stock is gonna be a 5 bagger in a month.
Nord Oil / the North-West Oil Group to Create a Joint-Venture With Oil India, India's Leading Oil and Gas State Enterprise
Tuesday May 23, 9:00 am ET
MONTREAL--(MARKET WIRE)--May 23, 2006 -- Nord Oil / The North-West Oil Group (Other OTC:NDOL.PK - News) and its president Mr. Ernest Malyshev are pleased to announce today that they are finalizing negotiations with Oil India, a leading oil and gas state enterprise for the creation of a joint venture to develop the Russian Oil market.
The Russian Oil Market constitutes approximately 49 billion barrels of proven oil reserves (4.8% of world's reserves) ranking six in the world. At the moment about 2,000 oil and gas deposits have been discovered in the territory of 36 out of 89 Russian subjects. Hydrocarbon material is produced in 30 out of those 36.
The maintaining of production rate requires state and private investments both in the upgrading of oil production and improvement of infrastructure and the newly formed joint venture will actively participate in such endeavors.
The company expects to timely release further details on the joint venture and its marketing plans, initial contracts and agreements.
About Oil India
Oil India Limited (OIL) is a premier Indian National oil company under the administrative control of Ministry of Petroleum and Natural Gas, Govt. of India. OIL is engaged in the business of Exploration, Development and Production of Crude Oil and Natural Gas, Transportation of Crude Oil and Production of LPG. The Company has over 1 lakh sq. km. of license areas. OIL's exploratory efforts has led to discovery of 85 oil & gas fields with total established in-place reserves of 842 MMT of oil & oil equivalent of gas as on 01.04.2002.
The Company presently produces over 3.2 MMTPA of crude oil, over 5 MMSCMD of Natural Gas and over 50,000 Tonnes of LPG annually. Most of this emanates from its traditionally rich oil and gas fields concentrated in the North-Eastern part of India and contributes to over 65% of total oil+gas produced in the region. The search for newer avenues has seen OIL spreading out its operations in onshore / offshore Orissa and Andaman, deserts of Rajasthan, plains of Uttar Pradesh, riverbeds of Brahmaputra and offshore Saurashtra. In Rajasthan, OIL discovered gas in 1988, heavy oil / bitumen in 1991 and started production of gas in 1996.
About Nord Oil / the North-West Oil Group
Nord Oil International Inc. is a reporting publicly traded Oil & Gas company trading under the ticker symbol NDOL on the US Pinksheets 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. The company is in the process of filing all regulatory statements and will change its name to the North-West Oil Group and will be issued a new ticker symbol. The company presently produces over 120,000 Metric Tons of crude oil yearly.
NDOL Huge News + More coming
Check out the news. Joint venture with Oil India. Now the 8k confirming a 1.25 billion merger will be out later today. This stock is gonna be a 5 bagger in a month.
Nord Oil / the North-West Oil Group to Create a Joint-Venture With Oil India, India's Leading Oil and Gas State Enterprise
Tuesday May 23, 9:00 am ET
MONTREAL--(MARKET WIRE)--May 23, 2006 -- Nord Oil / The North-West Oil Group (Other OTC:NDOL.PK - News) and its president Mr. Ernest Malyshev are pleased to announce today that they are finalizing negotiations with Oil India, a leading oil and gas state enterprise for the creation of a joint venture to develop the Russian Oil market.
The Russian Oil Market constitutes approximately 49 billion barrels of proven oil reserves (4.8% of world's reserves) ranking six in the world. At the moment about 2,000 oil and gas deposits have been discovered in the territory of 36 out of 89 Russian subjects. Hydrocarbon material is produced in 30 out of those 36.
The maintaining of production rate requires state and private investments both in the upgrading of oil production and improvement of infrastructure and the newly formed joint venture will actively participate in such endeavors.
The company expects to timely release further details on the joint venture and its marketing plans, initial contracts and agreements.
About Oil India
Oil India Limited (OIL) is a premier Indian National oil company under the administrative control of Ministry of Petroleum and Natural Gas, Govt. of India. OIL is engaged in the business of Exploration, Development and Production of Crude Oil and Natural Gas, Transportation of Crude Oil and Production of LPG. The Company has over 1 lakh sq. km. of license areas. OIL's exploratory efforts has led to discovery of 85 oil & gas fields with total established in-place reserves of 842 MMT of oil & oil equivalent of gas as on 01.04.2002.
The Company presently produces over 3.2 MMTPA of crude oil, over 5 MMSCMD of Natural Gas and over 50,000 Tonnes of LPG annually. Most of this emanates from its traditionally rich oil and gas fields concentrated in the North-Eastern part of India and contributes to over 65% of total oil+gas produced in the region. The search for newer avenues has seen OIL spreading out its operations in onshore / offshore Orissa and Andaman, deserts of Rajasthan, plains of Uttar Pradesh, riverbeds of Brahmaputra and offshore Saurashtra. In Rajasthan, OIL discovered gas in 1988, heavy oil / bitumen in 1991 and started production of gas in 1996.
About Nord Oil / the North-West Oil Group
Nord Oil International Inc. is a reporting publicly traded Oil & Gas company trading under the ticker symbol NDOL on the US Pinksheets 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. The company is in the process of filing all regulatory statements and will change its name to the North-West Oil Group and will be issued a new ticker symbol. The company presently produces over 120,000 Metric Tons of crude oil yearly.
How would anyone know?
Why would you even ask. None of us are insiders :)
NDOL & AURC will soar today
Ndol PR coming today, going to prove that this is a company with a share value of over $2. Remember they turned down the $2.17 a share buyout for this merger!
AURC is run by the same management. Has reserves of 7.1 million ounces of gold worth $6 billion almost. Market cap of only $27 million. Once Ndol's PR shows that Ndol's oil reserves were true, this will legitimize AURCs gold reserves and send it soaring.
AURC and NDOL My two Picks of the Year!
NDOL & AURC will soar today
Ndol PR coming today, going to prove that this is a company with a share value of over $2. Remember they turned down the $2.17 a share buyout for this merger!
AURC is run by the same management. Has reserves of 7.1 million ounces of gold worth $6 billion almost. Market cap of only $27 million. Once Ndol's PR shows that Ndol's oil reserves were true, this will legitimize AURCs gold reserves and send it soaring.
AURC and NDOL My two Picks of the Year!
NDOL & AURC will soar today
Ndol PR coming today, going to prove that this is a company with a share value of over $2. Remember they turned down the $2.17 a share buyout for this merger!
AURC is run by the same management. Has reserves of 7.1 million ounces of gold worth $6 billion almost. Market cap of only $27 million. Once Ndol's PR shows that Ndol's oil reserves were true, this will legitimize AURCs gold reserves and send it soaring.
AURC and NDOL My two Picks of the Year!
NDOL & AURC will soar today
Ndol PR coming today, going to prove that this is a company with a share value of over $2. Remember they turned down the $2.17 a share buyout for this merger!
AURC is run by the same management. Has reserves of 7.1 million ounces of gold worth $6 billion almost. Market cap of only $27 million. Once Ndol's PR shows that Ndol's oil reserves were true, this will legitimize AURCs gold reserves and send it soaring.
AURC and NDOL My two Picks of the Year!
NDOL & AURC will soar tommorow
Ndol PR coming tommorow, going to prove that this is a company with a share value of over $2. Remember they turned down the $2.17 a share buyout for this merger!
AURC is run by the same management. Has reserves of 7.1 million ounces of gold worth $6 billion almost. Market cap of only $27 million. Once Ndol's PR shows that Ndol's oil reserves were true, this will legitimize AURCs gold reserves and send it soaring.
AURC and NDOL My two Picks of the Year!
Gonna buy some more
I have 150k shares and will pick up probably another 50-75k when I sell 20% of my ndol holdings next week if everything goes as planned
I won't be selling AURC anytime soon.
NDOL & AURC will soar tommorow
Ndol PR coming tommorow, going to prove that this is a company with a share value of over $2. Remember they turned down the $2.17 a share buyout for this merger!
AURC is run by the same management. Has reserves of 7.1 million ounces of gold worth $6 billion almost. Market cap of only $27 million. Once Ndol's PR shows that Ndol's oil reserves were true, this will legitimize AURCs gold reserves and send it soaring.
AURC and NDOL My two Picks of the Year!
NDOL & AURC will soar tommorow
Ndol PR coming tommorow, going to prove that this is a company with a share value of over $2. Remember they turned down the $2.17 a share buyout for this merger!
AURC is run by the same management. Has reserves of 7.1 million ounces of gold worth $6 billion almost. Market cap of only $27 million. Once Ndol's PR shows that Ndol's oil reserves were true, this will legitimize AURCs gold reserves and send it soaring.
AURC and NDOL My two Picks of the Year!
NDOL & AURC will soar tommorow
Ndol PR coming tommorow, going to prove that this is a company with a share value of over $2. Remember they turned down the $2.17 a share buyout for this merger!
AURC is run by the same management. Has reserves of 7.1 million ounces of gold worth $6 billion almost. Market cap of only $27 million. Once Ndol's PR shows that Ndol's oil reserves were true, this will legitimize AURCs gold reserves and send it soaring.
AURC and NDOL My two Picks of the Year!
NDOL & AURC will soar tommorow
Ndol PR coming tommorow, going to prove that this is a company with a share value of over $2. Remember they turned down the $2.17 a share buyout for this merger!
AURC is run by the same management. Has reserves of 7.1 million ounces of gold worth $6 billion almost. Market cap of only $27 million. Once Ndol's PR shows that Ndol's oil reserves were true, this will legitimize AURCs gold reserves and send it soaring.
AURC and NDOL My two Picks of the Year!
If Ndol's PR is good
This thing will Fly.
If the PR for Ndol tommorow shows that they actually had the reserves they claimed, then that will legitimize the $6 billion in gold that AURC has, and with a market cap of $27 milloin, AURC will take off.
Holding 150,000 shares
Huge blocks going through
check it out
EOD run coming
AURC - Huge Play
At 25 cents and on the Eve Of Ndol's major PR AURC is a true bargain. This stock was trading at 41 cents just a coupel weeks ago. The Ndol PR will be huge and the gold price should be ready to start heading back up soon.
IMO this stock will be tradign at 35 cents within a day after Ndol's Pr
AURC - Huge Play
At 25 cents and on the Eve Of Ndol's major PR AURC is a true bargain. This stock was trading at 41 cents just a coupel weeks ago. The Ndol PR will be huge and the gold price should be ready to start heading back up soon.
IMO this stock will be tradign at 35 cents within a day after Ndol's Pr
AURC - Huge Play
At 25 cents and on the Eve Of Ndol's major PR AURC is a true bargain. This stock was trading at 41 cents just a coupel weeks ago. The Ndol PR will be huge and the gold price should be ready to start heading back up soon.
IMO this stock will be tradign at 35 cents within a day after Ndol's Pr
AURC - Huge Play
At 25 cents and on the Eve Of Ndol's major PR AURC is a true bargain. This stock was trading at 41 cents just a coupel weeks ago. The Ndol PR will be huge and the gold price should be ready to start heading back up soon.
IMO this stock will be tradign at 35 cents within a day after Ndol's Pr
AURC - Huge Play
At 25 cents and on the Eve Of Ndol's major PR AURC is a true bargain. This stock was trading at 41 cents just a coupel weeks ago. The Ndol PR will be huge and the gold price should be ready to start heading back up soon.
IMO this stock will be tradign at 35 cents within a day after Ndol's Pr
AURC a great buy at this price.
Once ndol PR hits this jumps to 35 cents within 24 hours IMO
Stil not getting filled at the ask. WTF. I only have 500 / 40,000 shares filled at the ask. Been 25 min now
Gift at 24 cents
I have a bid in at the ask of 24 cents for 40k shares. Only got 500 filled so far.
MMs, especially night is trying to hold this down.
Ndol PR confirmed for tommorow.
Gold Moving on up now. Watch AURC. Higher gold and Ndol ready to explode with great news means a pop for AURC within 1-2 days IMO
Email from Parkin 12:51
Greetings Brian,
The financials and other news has been approved here and sent to the attorney for clearance.
NDOL PR will launch AURC
Once Ndol finally releases the merger deatils, most likely today and the details of Northwest's financials, AURC will explode with confidence. Any buy under 30 cents is a bargain. If I didn't have all my money tied up in Ndol I would add to my 110,000 share holding of AURC right now.
Exactly!
That is exactly why this stock went as low as it did this week. I am willing to bet a good 60% of people had no clue why they were in on the stock besides the fact that it jumped up in share price so quickly.
Those who knew what was behind the stock and did their DD are the ones that held through the week and bought more several times. This stock is headed back to $1.40-$1.70 or so next week IMO, and its not going to be the pump and dump shareholders responsible this time. After next week it will continue to climb before leveling off in the $1.90 - $2.20 range. Then we are set for further runs as more and more postive prs are released week after week after week.
I really think people are underestimating how high this stock will go once the news is out. The current shareholders now are longer term investors and mid term traders. All of the daytraders and pump and dumpers are out of this stock. Once news hits, there won't be people selling like there were last run up. The stock will soar.
Holding 132,000 shares long!
NDOL News article - Get in before monday!
Russian Oil Assets Merge in Canada
Russia’s North-West Oil Group and Canadian Nord Oil International, whose assets are based in Russia, have signed a merger agreement. Nord Oil is to buy out North-West Oil’s producing subsidiaries in Saratov Region, setting up the new Northwest Oil Group. The Russian oil company will hold the controlling stake in the new firm.
Ernest Malyshev, president of North-West Oil, and Vyacheslav Makarov, president of Nord Oil International, signed the merger agreement on May 9, Kommersant learnt. Nord Oil is buying North West Oil’s two subsidiaries, North-West Oil Group-Saratov and Neftegazenergo. The firms and 100 percent of Nord Oil’s stocks are to be included in the authorized capital of the new company called Northwest Oil Group. North-West Oil is to own 59 percent in Northwest, the remaining 49 percent will go to Nord Oil. North-West Oil’s president Ernest Malyshev is to become president and director general at Northwest.
North-West Oil Group was founded in St. Petersburg in 2004. Experts estimate the total resources of the oil group at some 7-8 million metric tons. Nord Oil International is registered in Montreal but all its producing assets are situated in Russia. The company’s proved and possible resources come to 6.6 million metric tons.
The merger deal will be concluded after it is registered with the U.S. Securities and Exchange Commission next week. Assets of the new joint company are believed to total $1.25 billion after the merger
NDOL News article - Get in before monday!
Russian Oil Assets Merge in Canada
Russia’s North-West Oil Group and Canadian Nord Oil International, whose assets are based in Russia, have signed a merger agreement. Nord Oil is to buy out North-West Oil’s producing subsidiaries in Saratov Region, setting up the new Northwest Oil Group. The Russian oil company will hold the controlling stake in the new firm.
Ernest Malyshev, president of North-West Oil, and Vyacheslav Makarov, president of Nord Oil International, signed the merger agreement on May 9, Kommersant learnt. Nord Oil is buying North West Oil’s two subsidiaries, North-West Oil Group-Saratov and Neftegazenergo. The firms and 100 percent of Nord Oil’s stocks are to be included in the authorized capital of the new company called Northwest Oil Group. North-West Oil is to own 59 percent in Northwest, the remaining 49 percent will go to Nord Oil. North-West Oil’s president Ernest Malyshev is to become president and director general at Northwest.
North-West Oil Group was founded in St. Petersburg in 2004. Experts estimate the total resources of the oil group at some 7-8 million metric tons. Nord Oil International is registered in Montreal but all its producing assets are situated in Russia. The company’s proved and possible resources come to 6.6 million metric tons.
The merger deal will be concluded after it is registered with the U.S. Securities and Exchange Commission next week. Assets of the new joint company are believed to total $1.25 billion after the merger
NDOL News article - Get in before monday!
Russian Oil Assets Merge in Canada
Russia’s North-West Oil Group and Canadian Nord Oil International, whose assets are based in Russia, have signed a merger agreement. Nord Oil is to buy out North-West Oil’s producing subsidiaries in Saratov Region, setting up the new Northwest Oil Group. The Russian oil company will hold the controlling stake in the new firm.
Ernest Malyshev, president of North-West Oil, and Vyacheslav Makarov, president of Nord Oil International, signed the merger agreement on May 9, Kommersant learnt. Nord Oil is buying North West Oil’s two subsidiaries, North-West Oil Group-Saratov and Neftegazenergo. The firms and 100 percent of Nord Oil’s stocks are to be included in the authorized capital of the new company called Northwest Oil Group. North-West Oil is to own 59 percent in Northwest, the remaining 49 percent will go to Nord Oil. North-West Oil’s president Ernest Malyshev is to become president and director general at Northwest.
North-West Oil Group was founded in St. Petersburg in 2004. Experts estimate the total resources of the oil group at some 7-8 million metric tons. Nord Oil International is registered in Montreal but all its producing assets are situated in Russia. The company’s proved and possible resources come to 6.6 million metric tons.
The merger deal will be concluded after it is registered with the U.S. Securities and Exchange Commission next week. Assets of the new joint company are believed to total $1.25 billion after the merger
NDOL News article - Get in before monday!
Russian Oil Assets Merge in Canada
Russia’s North-West Oil Group and Canadian Nord Oil International, whose assets are based in Russia, have signed a merger agreement. Nord Oil is to buy out North-West Oil’s producing subsidiaries in Saratov Region, setting up the new Northwest Oil Group. The Russian oil company will hold the controlling stake in the new firm.
Ernest Malyshev, president of North-West Oil, and Vyacheslav Makarov, president of Nord Oil International, signed the merger agreement on May 9, Kommersant learnt. Nord Oil is buying North West Oil’s two subsidiaries, North-West Oil Group-Saratov and Neftegazenergo. The firms and 100 percent of Nord Oil’s stocks are to be included in the authorized capital of the new company called Northwest Oil Group. North-West Oil is to own 59 percent in Northwest, the remaining 49 percent will go to Nord Oil. North-West Oil’s president Ernest Malyshev is to become president and director general at Northwest.
North-West Oil Group was founded in St. Petersburg in 2004. Experts estimate the total resources of the oil group at some 7-8 million metric tons. Nord Oil International is registered in Montreal but all its producing assets are situated in Russia. The company’s proved and possible resources come to 6.6 million metric tons.
The merger deal will be concluded after it is registered with the U.S. Securities and Exchange Commission next week. Assets of the new joint company are believed to total $1.25 billion after the merger