InvestorsHub Logo
Followers 1
Posts 190
Boards Moderated 0
Alias Born 07/19/2006

Re: leebret post# 16132

Thursday, 08/17/2006 3:08:50 PM

Thursday, August 17, 2006 3:08:50 PM

Post# of 46027
Well LEEBRET, I am afraid I will have to dampen your enthusiasm a bit regarding the "Magma" deal. If you look at the PR released the day after the one you pasted, you will see that there was a correction made. The correction was that they didn't actually win the tender, but gained the right to take part in making offers for the acquisition, in addition to the many other companies participating. No offer has been accepted at this point, which means the actual price has not been determined, no one has acquired Magma, and absolutely no money has been lent !!

Additionally, since North-West Oil Group entered into the negotiations in December of 2005, a full 5 months before merging with NORD, even if they eventually do get to do the deal, it does not fall under the 'umbrella' of the merged company.....as the entity NWOG did not even exist.

As I said last week, until all the details of the 'merger' are clearly spelled out for all to see, investors, and potential investors have absolutely no clue as to what they are investing in.

[Sorry to be assuming the role of 'Devil's Advocate' once again]