SOURCE: North-West Oil Group

December 05, 2006 11:31 ET

North-West Oil Group Announces the Setting Up of a Department to Enhance Information to Shareholders

MOSCOW -- (MARKET WIRE) -- December 5, 2006 -- North-West Oil Group (PINKSHEETS: NWOG) submits the following information. North-West Oil Group-Closed Joint Stock Company, a privately held Russian company, makes the following statement regarding press releases and announcements made by North-West Oil Group, Inc. (formerly Nord Oil International Inc.), a Florida corporation.

In May 2006, NWOG-CJSC entered into a share exchange agreement with Nord Oil International. Pursuant to the terms of the share exchange agreement, NWOG-CJSC agreed to exchange 100% of the capital stock in two of its subsidiaries (Saratov and Neftegazenergo) in exchange for 59% of the issued and outstanding common stock of Nord Oil International.

Following the merger with Nord Oil International, the new entity, North-West Oil Group Inc., continued its ongoing quest to increase its holdings. The Company is public and it has obligation to inform the public of its activity in a timely manner. North-West Oil Group shall now issue news releases and updates 1-2 times each week.

Mr. Malyshev, president, explained as follows, "We wish to build a close tie with our shareholder base and correct the situation for the future. Consequently, we set up a department that will work effectively with the public. Furthermore, we are carrying out preliminary negotiations with MCS Global Strategies to assist in presenting North-West Oil Group to the American and European market as well as to Russian investors. We shall work together to issue news releases and updates 2-3 times each week."

He added that the public has a very strong interest in the Company's operations and they deserve to be informed in order to make proper decisions as to their investments.

About North-West Oil Group (formerly Nord Oil International)

North-West Oil Group is a non-reporting, publicly traded Oil & Gas company trading under the ticker symbol NWOG on the U.S. Pinksheets market as well as on the Frankfurt Exchange under symbol CXIA. The company presently produces over 120,000 Metric Tons of crude oil yearly.

Important Information About Forward-Looking Statements

All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.

Contact Information

  • Contact:
    Maria Romanova
    North-West Oil Group
    Tel: +7 495 621 1115
    E-Mail: maria@szng.ru