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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

Post by Oilseekeron Dec 04, 2014 4:05pm
108 Views
Post# 23196675

NORDIC OIL AND GAS LTD. EXTENDS DEBENTURE, Dec. 04

NORDIC OIL AND GAS LTD. EXTENDS DEBENTURE, Dec. 04

 

Nordic Oil extends Series C debentures for one year

2014-12-04 12:06 ET - News Release

 

Mr. Donald Benson reports

NORDIC OIL AND GAS LTD. EXTENDS DEBENTURE

Nordic Oil and Gas Ltd. has received the requisite authorization to extend its Series C debentures for a further term of one year to Dec. 6, 2015.

"This is a significant sign of the loyalty and confidence we have from our financial backers," stated Donald Benson, chairman and chief executive officer of Nordic. "We now have the three series of debentures all deferring repayment until November and December of 2015, which gives us the breathing space required to execute our game plan."

Nordic expects that this support will show the market that there is true upside potential for the corporation's share price knowing there is stability in the corporation as a whole.

Funds from the current financing will be used to execute Nordic's strategy of putting the wells on production, which the company has previously expended over $1-million, finally begin to provide Nordic with cash flow. The company has come through a period when low natural gas prices, combined with regulatory restrictions, have affected the amount of natural gas it has produced. Last year, Nordic made a contrarian move to acquire five sections of land in the Noel area of British Columbia when natural gas was out of favour, and the company will now move forward to capitalize on that success. Natural gas prices in Canada are up 100 per cent year over year.

Better days are ahead for Nordic.

Year of the Profit, Oilseeker
PS. the three of us it would be closer to to two mil


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