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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Post by EDDY05on Jul 26, 2011 1:54pm

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Post# 18874450

Legal matter...

In other news, Mr. Benson also stated today that lawyers representing Nordic and its joint venture partner, Desoto Resources Limited ("Desoto"), are pressing ahead with preparing the various examinations for discovery in the matter of Desoto versus Encana Corporation ("Encana"). It is anticipated that a trial date for early 2012 will soon be established.
However, Desoto has received an offer of settlement from Encana, which, Mr. Benson says, "has been deemed unsatisfactory."
"Unless a satisfactory and acceptable offer is received from Encana, we will be looking to the Court of Queen's Bench in Alberta to decide on this matter prior to April 2012," he added.

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