SOURCE: North-West Oil Group

January 23, 2007 05:00 ET

North-West Oil Group Participates in the New Tender

MOSCOW -- (MARKET WIRE) -- January 23, 2007 -- The government of Syrian Arab Republic has offered North West Oil Group (PINKSHEETS: NWOG) to participate in the tender for Implementing & Financing of Banias Refinery Revamping Company, which is on 25% the shareholder of the basic project of North-West Oil Group construction of a diesel fuel refinery and petrochemical complex in Deir Ez Zor. North-West Oil Group has accepted the offer to participate in the tender.

Banias Refinery Company, established by Presidential Decree and built under the contract in 1975, concluded with Romanian Industrial Export Import Company. The Refinery was built for distilling crude oil and producing petroleum products in capacity of distillation equal to 6 million metric tons per year in the north of coastal Banias-Tartous Mayoralty. The annual distillation since 1988 up until now has exceeded the Design capacity and reached ratios between 102% up to 117.08% of this capacity including fuel and naphtha received from Homs Refinery Company.

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.

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