Eik, your thoughts are welcome. Just trying to get a grasp on production numbers. While researching old pr's I came upon some things that didn't make sense back then. But they do now.
August 10, 2006
Nord Oil International/North-West Oil Group Announces International Plan to Increase Oil Production in the Saratov Region
Nord Oil International/North-West Oil Group (PINKSHEETS: NDOL) announced today plans to increase its oil production due to increased demands from the European Union. The Company will immediately proceed with a plan to take the necessary steps to increase its oil production.
The plan includes four steps and will commence with a comprehensive 3D seismic exploration program which will be completed by Company Zaprikaspyigeofizika. 3D Seismic technology is used to monitor oil reservoirs and to drill new wells more confidently to increase production. This is an integral part of the Company's overall goal to enhance oil recovery strategies. The project should be completed by the end of August 2006 with an estimated cost of $500,000. Additional steps will include creating the drilling project and complete sampling programs. The final step will include research and the building of the infrastructure required to support this drilling program.
Mr. Ernest G Malyshev, President of the Company, stated, "We are looking forward to implementation of this plan. According to the estimates done by our experts, by the time the project is completed, we should be able to increase our production by at least 100%, thus bringing our production to 1,752,000 barrels."
About Nord Oil International Inc.
Nord Oil International Inc. is a reporting, publicly traded Oil & Gas company trading under the ticker symbol NDOL on the US Pink Sheets market as well as on the Frankfurt Exchange under symbol CXIA. Nord Oil International and the North-West Oil Group merged on May 11, 2006. The company is in the process of filing all regulatory statements and will change its name to the North-West Oil Group and will be issued a new ticker symbol. The company presently produces over 876,000 barrels of crude oil yearly.
This 876,000 barrels of oil that they intend to double doesn't include the production numbers that Nord talked about in April.
In April Nord talked about expected production numbers of 6,500 bpd or 2.3 million barrels per year.
When I looked at this pr above and they were doubling production too 1.7 million I said, wait a minute that doesn't add up.
Before the merger Nord estimated 2.3 million barrels of production per year.
Assuming that Nord would have 2.3 million barrels per year and North-West doubled production too 1.7 million barrels per year. Without any of the new deals producing anything. We could potentially be in the 4 million bpy range now!
I know we don't know for sure and I for one would like to have some specifics. It would raise a lot of eyebrows if the company would share this info with shareholders. If they want to get the share price up and keep it up providing this information would be the right step. Because at this point this is all we have to go on. Which is mainly projected numbers.
IMHO; if they want to get more US shareholders and get the price up. Then share the production numbers and estimated production numbers going forward. If strongus is correct and this is the beginning of coming out of the dark. Then enlighten the shareholders with everything that has happened in the last 6 or 7 months.
Side note: Nord's production numbers were much better than North-Wests going forward 880,000 vs 2.3 million according to published pr's. On the other hand North-Wests reserves were much higher than Nords. Which might explain why each decided the merger was best for all. Any thoughts are more than welcome from you or others on this subject.
Description of Nord on April 4, 2006
Nord Oil Receives Green Light to Commence Oil Production
Nord Oil International Inc. (Frankfurt: CXIA) (OTC: NDOL) announced today that local and regional governments have approved the company's plans to start its oil production starting June 1, 2006.
"We are truly grateful for the tremendous support we have received by local and regional governments to expedite our authorization to commence our oil production," said Andrei Kuzovlev, Executive Vice-President of Nord Oil International Inc. "The production is expected to yield approximately 6,500 barrels per day or 2.3 million barrels of oil for the following 12 months, representing revenues of approximately $150 million USD and when we add this revenue to our existing transport, storage and trading business, total revenues should reach close to $200 million USD by June 2007," further added Mr. Kuzovlev.
