jaz,
Like so many longs I have been extremely disappointed with the ineffective press releases
Couldn't agree more and thats the reason for my open Letter to Maria,
MY TOP TEN REASONS INVESTORS DON'T BELIEVE IN THIS STOCK!
Dear Maria,
Having listened to your interviews several times and after discussing it with several other investors. I would like to give you some insight from your long-term investors.
These are not in any particular order;
1. You are not getting any reaction from press releases;
Because the pr's are all filled with (if's maybe's etc.) and the last one that moved the stock was this one "North-West Oil Group Declares That the Company Is on the Final Stage of Purchasing OAO "NK Saratovneftegeofizika"
That moved the stock up only to fall all the way back to where we were. What is happening with this deal? Like most of the other great deals released there is no follow up. What's happened to the Magma deal? I could keep going, you get my point I'm sure!
2."The President of the North-West Oil Group, Mr. Ernest Malyshev, Announces Telephone Conference With Investors"
We had three callers all ask about production numbers. The same number was given to all three 14,600 bpd. Now we can't even get anyone to verify this. You have had since May 2006 to report how much oil you are pumping. You are pumping oil? Many have questions and want answers to this!
Did Mr. Malyshev make a mistake in the conference call? Did he lie? You were there as I understand it! So much for opening up the lines of communication!!!!!!!!!!!!!!
3. You keep saying you hope the audit is done by March;
As investors we know that is not a problem. Many companies much much bigger than Northwest produce quarterly results on a consistant basis. You've had ten months to get these ready. The market is expecting them to be huge! Do you know why? Because of number (4)
4. North-West Oil Group's consolidated revenues for the last fiscal year was USD $450 million, which was derived partly from the production of over 120,000 tons of oil, representing 882,000 barrels.
I already asked you if this was true, no response from you. I will ask you again is this true? If you can't answer yes, then it's a lie. The market believes it was a lie. Why did they need to report this false number?
5."NDOL/North-West Oil Group Beats the Majors Over the Magma Oil Reserves and Will Increase Oil Production to 7 Million Barrels Per Year"
Oh, really! What happened another false promise to pump the stock. Many lost money buying into this one!
6. The president of company Ernest.G.Malyshev declares that the company on final stage of the transaction on purchase "NK Saratovneftegeofizika" in this connection occurred great volume sales of the shares on American market, according Pink Sheets 33,010,412 for the last two days of trading. The reason of purchase the share is caused by forecasts of significant growth cost of the share in the near future and increase of capitalization, in connection with purchasing of the new assets.
The president of company Malyshev has added: «We are sincerely glad, that such great volume sales of the shares presented for last two days, undoubtedly, it displays interest of public to the company and to the assets located in Russian Federation. We are extremely afflicted mistrust of those investors, who urgently sell out the shares, being blind to the future prospects of growth and development of the company and we welcome investors, who purchasing shares and will stay satisfied with this purchase".
Mr. Malyshev was extremely glad with the 33 million shares that drove the share price all the way down to five cents! I thought it was extremely painful...Who sold all of those shares? Was it Mr Parkin? Obviously it was a large shareholder with many shares. I wonder what they (he/she) knew that we don't?
Then he goes on to say he's afflicted with the mistrust of investors who sell their shares. Well, which is it, is he glad or mad? Why does he or yourself think that so many shares got dumped on the market that day?
7.North-West Oil Group (Formerly Nord Oil International Inc.) Becomes Majority Owner of a $3.5 Billion Refinery and Petrochemicals Project
Some have said, this doesn't belong to the public shareholders! They are saying, it belongs to the private part of the company. I've said, it must belong to the public shareholders because it was pr'd to us. Can you confirm that it belongs to public shareholders? This shouldn't have any interference with the audit.
As shareholders we don't even know what belongs to us. Do you think we should know the difference? Are you picking and choosing what part of the deals we receive? Starting to get the reasons why, the stock is being overlooked? Only three more to go!!!!!!!!!
8."North West Oil Group Appoints Deloitte & Touche as Its Auditors"
Wow, great company, with a great reputation. At least that's what I said the day of this release. What happened to them? Who replaced them and why? Do you consider this an important question?
9. Mr. Malyshev, president, explained as follows, "We wish to build a close tie with our shareholder base and correct the situation for the future. Consequently, we set up a department that will work effectively with the public. Furthermore, we are carrying out preliminary negotiations with MCS Global Strategies to assist in presenting North-West Oil Group to the American and European market as well as to Russian investors. We shall work together to issue news releases and updates 2-3 times each week."
This is a interesting one; I sent and received several responses from them. They couldn't answer anything of importance to anyone! What do you think will make the next one any different? This all sounded wonderful then, so what happened to them? Does Mr. Malyshev still want to build a close tie with shareholders?
Currently this couldn't be farther from the truth. With this gag order in place at the moment what exactly can you talk about? No one believes that you can't talk about these things. They believe you are stalling or hiding something. Is it to keep the share price down while you buy them back for pennies?
This is the second IR firm in a short period of time, why? I could go on here, talking about the lack of transparency etc. etc.
10. Are you wondering why I would take the time and effort to share this? Simple, I have many shares and a lot of money invested.
With all of these unanswered questions if I wasn't down so far. I wouldn't walk to sell my shares, I would run and never look back!
The positive side; I investigated this company and saw many positive things and potential for growth. All of the fireworks have now fizzled out at the moment. As you can see with all of these unanswered questions above and I've been in for along time. That the new investors don't come close to understanding what you are doing.
On top of all of that, you went non-reporting. That crushed all of us long term holders. The excuses you made in the interview about all the paper work. Common, many companies before you have managed to finish that without problems.
You seriously need some American consultants that understand the markets. You need help with your press releases as most of them create more questions than answers. I understand you are a new Russia company new to the public world. How much longer do you need that excuse?
The market has so much mistrust right now, they aren't even excited about the buyback. That says much, don't you think?
The market want numbers, it wants deals that are closed, it wants to see revenues. The market just yawns at all these releases with possible, final stages, maybe, and so forth. They won't be fooled now or in the future and there is no one to blame but yourselves.
I hope you will start immediately to correct just some of these things mentioned. I hope you can use some of my suggestions. I hope you will share this with Mr Malyshev. I hope I have delivered some value to the company with my time and effort. I hope and pray for all involved that everyone would be blessed. I want the company to grow and prosper and become a major in the business.
Sending this with all the sincerity that I have,
Bret
