Well Oldinvestor, I think this is the one you are referring too. Let's assume you are right and they don't get this. What about the fact that they are going to pay cash? It seems to me that they have access to the cash.
Then on the 29th, seven days after the corrected press release on the 22nd. It suggests that the deal shall be made together at one time. In an all cash transaction, (once again there is that cash word). This press release states it in the positive sense, Quote: shall be made in parallel with the Magma deal. This in not a play on words! Not even close to suggesting that the deal is not done or won't happen. Just the opposite it is affirmation that the deal is done. Maybe something changed between the 22nd and the 29th. Like an agreement (meeting of the minds) wink wink!
P.S. By the way the Devil doesn't need any help.......!
By Market Wire
Last Update: 6/22/2006 2:28:25 PM Data provided by
MOSCOW, Jun 22, 2006 (MARKET WIRE via COMTEX) -- NDOL/North-West Oil Group (PINKSHEETS: NDOL) announced today that it is eager to continue the process of making the acquisition of OAO NK Magma. The tender referred to in the previous news release was a private tender that permitted it to negotiate with Magma directly without the necessity of dealing with other interested buyers. Although the acquisition price is not yet determined, we are expecting it to be in the range that was referred to previously. This transaction is very important as it will immediately increase the Company's oil production fivefold.
North-West Oil Group is in negotiations to purchase the oil producing company OAO NK "Magma" and intends to acquire the shareholders' block of common shares which constitute 98% of the Company's share capital. North-West Oil Group offered for the present asset $350 million. Following a positive result, the present transaction shall be finalized during the period from July till September 2006. Recovery of the investment made in the present acquisition will be from 3 to 5 years, depending on the price of oil on the world market.
By Market Wire
Last Update: 6/29/2006 10:00:22 AM Data provided by
MOSCOW, Jun 29, 2006 (MARKET WIRE via COMTEX) -- Nord Oil International/North-West Oil Group (PINKSHEETS: NDOL) is completing negotiations for the acquisition of NK SaratovNefteGeofizika in an all cash deal. This acquisition shall be made in parallel with the Magma deal which was announced last week. There is a definite interest by a number of European funds to provide the necessary funding for these acquisitions.
The President, Mr. Ernest Malyshev, states, "Russia is a key supplier of petroleum products to Europe, and the European banking and commercial institutions are eager to participate in all oil/gas ventures involving oilfields in Russia."
NK SaratovNefteGeofizika is an oil, gas and condensate producing company located in the lower Volga basin within the Saratov area, which is a mature petroleum region of Russia.
The purchase shall be for 100% of both the Company and its subsidiary, ZAO Itilneft.
AI
