Replies to post #6940 on North West Oil Group, Inc. (NWOL)

[rebbry]

Eric, my guess is that these 2 divisions don't yet have a lot of oil in production. Who knows, those reserves could be one well.


EricEcon--today's filing sez "$99,400,000 intangible assets--reserves, options, & licenses".

How does this connect with "oil in the ground isnt counted as assets by the SEC"? Please clarify. thanks.

whonose5

[EricEcon]

i wish i could clarify, but i can't.

I am simply repeating what someone said yesterday and thinking that statement applies to today's financials as well.

The point is that if you're pulling a number from the statement, that number doesn't include the value of the oil in the ground.

[jstick2000]

He means that reserves can't be listed as assets, unless they are removed from the ground. So people who are complaining that we are not worth the 1.25 Billion are not necessarily correct.