DGAP-News: Northwest Oil&Gas Trading Company, Inc.: Acquisition of an excellent Oilproject
(firmenpresse) - Northwest Oil&Gas Trading Company, Inc. / Miscellaneous
28.06.2010 09:24
Dissemination of a Corporate News, transmitted by
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The Company is pleased to announce, that, as adviced at the 11th day of
June, the access to 100% of the working interests of an excellent
oilproject in Mississippi are backed for NWO. This so called 'Otho Bank
Prospect' expands over an area of roundabout 2,000 acres. The data show a
recoverable reservoir of up to 22 million barrels of Oil. Up to 15 wells
seem to be possible with a production rate of up to 1,500 barrels each, so
that the fully developed field would produce up to 675,000 barrels of oil
in the month, which means more than 47 million USD at a marketprice for oil
of 70 USD per barrel.
To increase the growth and to push the performance the company is in
negotiations with private investors and institutionals concerning joint
venture opportunities and cooperations.
In addition to the 'Otho Bank Prospect' further two oilprojects should be
backed for NWO. These two fields look like 'Otho Bank' and will provide
similar brilliant chances and profitable results. In this way the company
will face the presumptiv increasing competition for drilling rights onshore
the US.
In the context of the occurences in the Gulf of Mexico and BP the
management of NWO decided to put some oilprojects in Mississippi in
operation immediately. Originaly that was planned after the successful
development of the companies gasprojects in Alabama. Because of tactical
and strategic considerations NWO could not wait longer. The management
further stand to the internal credo not to endorse projects in the
ecosystem 'Ocean', in the wilderness of Canada or in the primeval forest of
Southamerica.
About Northwest Oil&Gas Trading Company, Inc.: Northwest Oil&Gas
Trading Company, Inc. is a young and upcoming exploration company pursuing
the primary goal of activating or reactivating existing oil- and
gas-reserves.
Disclaimer/Predictive statements: This notification serves only general
purposes and is not meant as a tender to purchase or sell shares of
Northwest Oil&Gas Trading Company, Inc.. Some statements in this
notification are so-called forward-looking statements under the U.S.
Private Securities Litigation Reform Act of 1995. These assertions are
based on current expectations, estimates and forecasts as well as currently
available information. The future-oriented assertions are not to be
understood as guarantees of the cited prospective developments and results.
The statements are not based on historical background, but rather represent
predictive position statements and assumptions subject to risks and
uncertainties which could cause actual events or results to differ
materially from those reflected in the forward-looking statements and
assumptions, including, but not exclusively, certain delays beyond the
control of the company with respect to the beginning and duration of
exploration and production, uncertainties regarding future and/or
unexpected costs, fluctuations in commodity prices, the inability or
failure to obtain adequate financing on a timely basis, changes in the
nationaland local laws, contestations of legal possession of the property,
hazards effecting the environment, on-site accidents, unusual or unexpected
geological formations, flooding and other natural catastrophes, the risk of
inadequate insurance or the inability to conclude an insurance contract and
other risks, as well as also entirely unknown risks, uncertainties and
factors which could lead to situations where the actual results, financial
situation, developments or performance of the company considerably deviate
from those which were expressly or implicitly assumed in these statements
or assumptions. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect, actual
results may vary materially from those described in forward-looking
statements.
Magnolia, June 28th, 2010
Northwest Oil&Gas Trading Company, Inc.
28.06.2010 09:24 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
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