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 Oilseekeron Jan 28, 2011 9:48am

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Post# 18039720

RE: RE: Shares for Debt

If the creditors were to put the shares in their account, then transfer them to their TFSA, which would be a sale
they would have a tax loss benifit to deduct from their money that they made on the market, if any, then they have all the shares in a tax free situation so the up front loss is not that great

100.000 shares at .175 = 17,500 dollars
100,000 shares at .11 = 11,000 dollars
transfer to TFSA
Capital tax loss of 6,500 and you still have the shares that you know is going to go up tax free

One way of thinking, I would do it

Year of the Profit, Oilseeker

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