North West Oil Group, Inc. (NWOL)

[IHDR]

I totally disagree .......

<All this fracas over nothing actually illegal... ^_^;

IHDR and RonnieD, the buyout offer was never confirmed as accepted. To the contrary, Nord Oil did not appear to want one. Too many people, especially daytraders looking only at that $2.17, overlook that undeniable fact. It's that simple.

NWOG during its asset accumulation was only offering a buyout offer to Nord Oil, in much the same way it does now to Sibir for the Magma fields and to SaratovNefteGeofizika. Nord Oil felt it has a responsibility to report a buyout attempt. Obviously at the time Nord Oil wanted to make sure it was genuine. No problem there. Questions from people about the buyout then led to Nord Oil saying it was not from a Chinese oil company. Again, nothing illegal here and it's true. The spike over $1 is due to the PR with details of the buyout offer, $2.17/share, finally revealed. Nothing wrong here either. Traders simply got carried away with the actual offer amount and neglected to see that it was merely an offer. What people do with the info cannot be blamed on Nord Oil.

As for a merger, Nord Oil did not know that NWOG would go for that rather than a buyout until further meetings took place. So, the buyout was eventually rejected and discarded. Again, nothing illegal or even shady; it's just the way business is sometimes. Companies and people can always change their minds while negotiations are still ongoing and things are not set in stone via contracts.

Now, if Nord Oil had to go through all this again, perhaps it might have had kept the entire process regarding NWOG's buyout offer and its own counteroffer for a merger confidential throughout and then only reveal the final business outcome, the merger itself with NWOG. The PPS might have turned out better this way, but nobody really knows since no one can turn back time.

Nord Oil merely put out information it believes to be accurate. What the market did with it is immaterial to the SEC, which will come to the same conclusion about the complaint even if it were to investigate.>