marcg, I think your "contact" may be mistaken.
I am unable to substantiate any link of North-West Oil Group to Surgutneftegaz. Even the website link you posted has no mention of North-West Oil Group.
Surgutneftegaz is actually the 4th largest oil producer in Russia according to the Russian energy ministry's central despatch unit.
Here is the list...
Russia: Oil output by company
(January 2006) Tonnes
Lukoil 7,519,800
Rosneft 6,481,500
TNK-BP 6,263,800
Surgutneftegaz 5,496,400
Sibneft 2,603,000
Tatneft 2,162,300
Slavneft 2,051,700
Yukos 1,834,000
Russneft 1,258,700
Gazprom 1,100,100
Bashneft 1,005,700
Source: Russian energy ministry's central despatch unit; EIU calculations
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I was surprised at how difficult it was to find any information on North-West Oil Group.
What I did find is that this company is competing with some Major Players in the Russian Oil Industry in an attempt to make significant acquisitions in the oil industry.
Here are some things I found...
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Digest of the Russian press, December 29, 2005
Russneft has a rival. Russia's Northwest Oil Group has emerged as a new bidder for a 49% stake owned by embattled oil major Yukos in Slovakian pipeline company Transpetrol. According to the paper, the group is set to offer $40 million more than the Russneft oil company, which is supported by the Russian government.
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Eurasia Economic report, December 12, 2005
TNK-BP board to consider asset sale. The source also said that there is already a list of potential buyers for Saratovneftegaz and Orsknefteorgsintez. The Federal Antimonopoly Service has already approved a request from OAO Russneft to acquire Saratovneftegaz. The FAS is also considering applications from Austria's OMV, Britain's Urals Energy, China's Sinopec, OOO Itera and OOO Unified Oil Group. In addition to these companies Tatneft and ZAO North-West Oil Group have been named as contenders for Saratovneftegaz.
(On Dec 21, 2005, Russneft announced they had aquired Saratovneftegaz.)
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Kommersant Russia’s Daily online, Feb 5, 2006
YUKOS to Have Fewer Assets Abroad. In Slovakia, the Transpetrol tender is dragging as well. Authorities of the country suspect Hungarian MOL to be indirectly involved in it through Russia’s Russneft and North-West Oil Group, which have filed the bids, and demand to shelve the sale till the situation is finally cleared out.
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So this tells me that North-West Oil Group is a serious player in the industry to be competing with the likes of Russneft in a failed bid to acquire Saratovneftegaz from TNK-BP.
Getting Transpetrol from Yukos could be a challenge for North-West Oil Group as well, with Russneft supported by the Russian government.
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It all looks like this just could roll out as planned. I am expecting the deal will go through and NDOL will be purchased by North-West Oil group. They way I see it, unless something new comes out that leads me to believe differently, I should have $2.17 for each of my shares very shortly.
North-West Oil should want the deal done quickly to avoid losing out on another potential acquisition and NDOL was groomed by Parkin and JF for exactly this purpose - To Sell It!
My opinions only. Due your own DD.
Good Luck to all.
Just my opinion...
