North West Oil Group, Inc. (NWOL)

[Lochan]

As I expected, people here are setting themselves up for further disappointment by saying the AF's will be out on April 27th. The company has not made any such statement. The auditors said they expect their job to be completed between April 27 and April 29. Those dates are also approximate. I expect the company to announce its release of AF's around May 15th, but let's remember that their main business is to increase operations, not satisfy our demands to release AF's on a particular date.

If you consider that net income for the year ended March 31, 2007 is 13% of total revenues (which exceeded $45 million), you have to give credit where credit is due. NWOG is quite profitable and has been for more than just this past year.
There are not many CEO's of pink sheet companies that can claim they earned $5.5 million on sales of $45 million.

True longs are not too worried at this point because NWOG will be moving onto the AIM a year from now and may well become a prime buyout target for a major producer in 2008. By that time I expect to see sales projections of $100 million for the next fiscal year (2008). Once we have the figures for proven and probable reserves, we will be able to more accurately estimate a possible buyout price. Fluctuations in current PPS will not be that important to us longs once the value of the company can be reasonably appraised based on the value of its oil reserves. All in my opinion.