NDOL Nord Oil International Provides Update on the Recent Unsolicited Offer and NASD OTCBB Listing
Market Wire - May 3, 2006 9:00 AM (EDT)
MONTREAL, QC, May 03, 2006 (MARKET WIRE via COMTEX) -- Nord Oil International Inc. (OTC: NDOL) today provided an update on its recent unsolicited offer and NASD OTCBB listing.
According to the company, management has reviewed the unsolicited offer and has determined it to be bona fide and expects to release the details on or before May 10 at the close of market. Due to this material event, the listing on the NASD OTCBB has been delayed until shareholders have had the opportunity to review the unsolicited offer.
"It is clear that a listing on the NASD OTCBB would be ideal for our company, however the significant premium on the unsolicited offer represents a higher and more important opportunity to our shareholders and we need to allow them the time to evaluate its significance," said Mr. Viatcheslav Makarov, President of Nord Oil International Inc.
About Nord Oil International Inc.
Nord Oil International Inc. is a reporting publicly traded Oil & Gas junior producer, trading under the ticker symbol NDOL on the US Pinksheets market. Nord Oil International operates three wholly owned Russian subsidiaries: Nord Oil Products, Nord Oil Samara and NANA. Nord Oil's properties currently have a total of 48 million barrels of proven and probable reserves and the company plans to acquire additional properties and has an objective of 150 million barrels in proven and probable reserves.
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