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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.


NYSE:NOG - Post by User

Northern Oil and Gas Inc
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Comment by ShawnyCash1on Apr 01, 2011 2:21pm
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Post# 18374403

Here's the release from 2004 explains a little

Here's the release from 2004 explains a little

June 3, 2004

NORDIC OIL AND GAS IN DISPUTE OVER FREEHOLD LAND LEASES IN JOFFRE

WINNIPEG ­ June 3, 2004: Donald Benson, Chairman and Chief Executive Officer of Nordic Oil and Gas Ltd., announced today that trading of the Company's shares on the TSX: Venture Exchange has been halted due to its failure to file its most current financial statements. The Company expects to file the outstanding financial statements within the next two weeks.

The validity of Nordic Oil and Gas' freehold leases in Joffre, Alberta is being disputed, and while negotiations to resolve the matter are ongoing, "legal action by the Company to preserve our interest in the leases remains a possibility," stated Mr. Benson.

The Company's wells in Joffre currently produce approximately 1,000,000 cubic feet per day from lands in which royalties are paid to the Crown and are not in dispute.

"Regrettably, this problem has delayed our plans to develop the freehold lands at this time," added Mr. Benson. "However, we are of the opinion that the courts will rule in our favour."

Nordic Oil and Gas Ltd. is a junior oil and gas company listed on the TSX Venture Exchange. It trades under the symbol NOG.

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