Northern Oil and Gas Inc V.NOG

Primary Symbol: NOG

Energy Oil & Gas E&P

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.

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Northern Oil and Gas Inc

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Comment by dataman69on Jan 04, 2010 6:08pm

260 Views

Post# 16637192

RE: PP

the press release doesn't say final tranche but they seem to be a having a tough time raising money .....even at the give away Flo Thru price of 10 cents

the original plan was a $3mil debenture and 13 new wells

so far i see $1.4 mil raised (debenture and PP)

which explains why we stopped after 7 new wells

so they might have to wait for the oil sales/cashflo for more drilling/completion funds

later

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