North West Oil Group, Inc. (NWOL)

[eik]

Info from seller's side: NWOG is not buying Magma anytime soon… nobody is. Sibir Energy decided “for the time being” not to sell this asset.

IMO: NWOG doesn’t need Magma itself. NWOG needs to increase production numbers. Magma was overpriced anyway - $350mln for declining asset that was priced $200mln, when Sibir used it as collateral in 2005. Probably NWOG will find better use for this money - acquire something else and double Saratov production as planned.

FWIW.