Nord Oil Receives Green Light to Commence Oil Production
Posted on: Tuesday, 4 April 2006, 06:00 CDT
Nord Oil International Inc. (Frankfurt: CXIA) (OTC: NDOL) announced today that local and regional governments have approved the company's plans to start its oil production starting June 1, 2006.
"We are truly grateful for the tremendous support we have received by local and regional governments to expedite our authorization to commence our oil production," said Andrei Kuzovlev, Executive Vice-President of Nord Oil International Inc. "The production is expected to yield approximately 6,500 barrels per day or 2.3 million barrels of oil for the following 12 months, representing revenues of approximately $150 million USD and when we add this revenue to our existing transport, storage and trading business, total revenues should reach close to $200 million USD by June 2007," further added Mr. Kuzovlev.
About Nord Oil International Inc.
Nord Oil International Inc. is a reporting publicly traded Oil & Gas junior producer, trading under the ticker symbol NDOL on the US Pinksheets market. Nord Oil International operates three wholly owned Russian subsidiaries; Nord Oil Products, Nord Oil Samara and NANA. Nord Oil's properties currently have a total of 48 million barrels of proven and probable reserves and the company plans to acquire additional properties and has an objective of 150 million barrels in proven and probable reserves.
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: Viatcheslav Makarov President Nord Oil International Inc. Vmakarov@nordoil.com 514-591-3666 www.nordoil.com
SOURCE: Nord Oil International Inc.
Source: MARKET WIRE
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