North West Oil Group, Inc. (NWOL)

[eik]

This is an interesting question. My understanding was that CJSC NWOG ("private") is just applying for the loan, but SNGF will never be brought to the "parent" balance - NWOG Inc. will get SNGF plus $45 mln debt to private NWOG. "Russian NWOG" is just a holder of original credit, and is responsible for paying money back. In this bank agreement the bank is "investor", CJSC NWOG is "operator". They will just transfer their operator functions to NWOG Inc. (as they stated they are going to do with ME contracts, for example). Does it sound logical? Is anything wrong with this scenario?