North West Oil Group, Inc. (NWOL)

[Lochan]

What I like about the financials so far is that we had net income of $5.5 million for the year just ended, boosting the retained earnings to over $15 million. That is so rare for
pinksheet stocks which almost all show a deficit in retained earnings. Current Liabilities are too high though, about six times Current Assets. I wonder how the Company will handle that? They'll probably arrange some Creative Financing, converting it to long-term debt.

If you were to look only at the year just ended without comparative numbers from the previous year, everything looks pretty solid. We cannot really give an opinion on the comparative statements without seeing the explanatory notes. Hopefully, they will be part of the audited financials and our questions, at least the major ones, should be answered.

The main thing is that NWOG is a producer. No one should be doubting at this point that oil is flowing out of the ground and that we are a profitable enterprise. We've even made provision to pay $1.75 million in taxes. Longs are singing "Too legit, too legit to quit!"

The auditing firm has said they expect to finish their work by the end of April. More patience is required. GLTA