North West Oil Group, Inc. (NWOL)

[oilspec]

I think this audit plan is a very positive step. I would have preferred a Big 4 firm, but retaining one of them can be extremely expensive, particularly with their Russian assets being located in relatively remote areas. (My son works for Ernst & Young).

I think the "viable ongoing concern" choice of words was very unfortunate. It's too close to the warning phrase "going concern" which is used to describe companies that are close to folding. I wouldn't expect a PR like this to make the PPS skyrocket, but it is annoying that if anything, we're going red.

I don't understand some of the negative comments about this PR from this board. I can definitely relate to the skepticism, but how can this be interpreted as bad news? It's a US auditor using GAAP standards. Yes, we will have to monitor their follow-through.

I am hoping that the next PR will provide news on the delayed report and/or the Saratov acquisition.