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Northern Oil and Gas Inc V.NOG


Primary Symbol: NOG

Northern Oil and Gas, Inc. is a real asset company that focuses on acquiring and investing in non-operated minority working and mineral interests in the hydrocarbon producing basins within the contiguous United States. Its business is crude oil and natural gas exploration, development, and production with operations in the United States. Its 300,000-acre portfolio is distributed across the Williston, Permian and Appalachia Basins. Its portfolio comprises 300,000 acres of low-breakeven land with over 10,000 wells. Diversified by basin and across commodity type, its wells are operated by over 100 public and private operators. It engages in oil and natural gas exploration and production by participating on a proportionate basis alongside third-party interests in wells drilled and completed in spacing units that include its acreage. It acquires wellbore-only working interests in wells. It owns the Utica and Northern Delaware Basin assets. It also owns Point Assets in the Delaware Basin.


NYSE:NOG - Post by User

Bullboard Posts
Post by HotSnoton Jul 08, 2008 12:06pm
388 Views
Post# 15268272

well....

well....Not the news release i expected.  Still reason to be optimistic. Hindsight is a tough pill to swallow sometimes.  I dont believe for a second that there is nothing in Preeceville.  Im pleased with the commencement of drilling of the 3 wells in Lloydminister.  I bought 10k at .60 a few weeks ago.  I was ok with that because the financing price was also .60 and its doubtful that the select few who got a piece of that placement are accustomed to burning their money.  Today i picked up 10k more at .45 after missing it yesterday.  I thought that was pretty good news untill i noticed the same RBC gentleman who loaded up with everything he could buy early this morning dump it all into the market at a loss a few hours later and send the price to .41.  Wish i had set my buy price a little lower.  In any case, if the price continues to drop im ok with that.  I will continue to pickup a few shares here an there. Between preeceville and llodyminister i figure im looking at a worse case scenario of a pile of 30-50 Bopd on a wack load of wells.  They dont sound impressive alone but when you add them all up it should provide enough capital to avoid any future financings when they are up and running which ends share dilution.  Thats always a plus.  Best case scenario is drilling at preeceville returns a substantial well and the share price takes off.  Either way i see very little down side here and im patient enough to have my investment pay off.  Instant gratification is always nice but im sure i will be rewarded in the future so its all good.
Bullboard Posts