North West Oil Group, Inc. (NWOL)

[Pinkie]

CanArgo (CNR) also announced this last month, a private placement for $18 million. Share price is down trending now. What could happened if/when NDOL does a PP. (Didnt they say recently they were preparing for that - $60million?

CanArgo Announces $18 Million Private Placement
Wednesday September 20, 3:01 am ET


OSLO, NORWAY--(MARKET WIRE)--Sep 20, 2006 -- CanArgo Energy Corporation ("CanArgo") (OSE: CNR)(AMEX:CNR - News) is pleased to announce that it has agreed a private placement (the "Placement") of approximately 13 million shares of restricted stock at NOK 9.10 per share (approximately US$1.40 per share), subject to documentation and satisfaction of certain other conditions. The transaction is expected to close by the end of the week. Gross proceeds from the Placement are anticipated to be approximately US$18 million (NOK 117 million). After completion of the Placement and subject to approval of the American Stock Exchange ("AMEX") to list the shares, CanArgo will have some 237,486,165 shares of common stock issued and outstanding.
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The proceeds of the Placement will be used principally for future capital expenditures in Georgia, including without limitation, securing drilling equipment for its appraisal projects, and for general working capital purposes.

Following receipt of AMEX approval, the shares to be issued in connection with this Placement will be restricted securities issued pursuant to the exemption from registration under the Securities Act of 1933, as amended, (the "Securities Act") afforded by Regulation S and will not have not been registered under the Securities Act and may not be offered or sold in the United States or to U.S. persons (as defined in such Regulation) absent registration or an applicable exemption from registration. CanArgo intends to file a registration statement with the Securities and Exchange Commission to register the shares for resale.

CanArgo is an independent oil and gas exploration and production company with its oil and gas operations currently located in the Republic of Georgia and in Kazakhstan.