SOURCE: North-West Oil Group

February 01, 2007 13:21 ET

NWOG Announces Possible Joint Venture

MOSCOW -- (MARKET WIRE) -- February 1, 2007 -- North West Oil Group (PINKSHEETS: NWOG) (FRANKFURT: CXIA) (NWOG) has entered into negotiations with a Russian oil company to participate as a shareholder in the construction of a petrochemical complex at Deir Ez Zor, Syria. The completion of successful negotiations vis-à-vis the Syrian project would open the door to future collaborations between the two companies. The negotiations are informal and no date has been set for completion.

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

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