North West Oil Group, Inc. (NWOL)

[eik]

Imperial Energy rejected Gazprombank offer to buy 25% stake in the company because that offer was below market price. I was actually surprised that they did this. Imerial had problems with State agencies last year (Mitvol), and I considered that Gazprombank bid as a blackmail - take it or else! What Malyshev is saying now: We have a very rich partner - India Oil, who is ready to buy (using NWOG as Russian Government channel) any big oil assets in Russia. We (NWOG-India Oil JV) would buy 25% stake in Imperial Energy at market price (above Gazprombank offer). MOL has done something like this with Surgut-7. Malyshev may resell his part (12.5%) to the partner later, just like he did in MOL case.