NOG - Northern Oil & Gas Inc

Nice chart. Looking to break 7.25, maybe 7.30?

Looks like it might have a bit more left in it.

http://stockcharts.com/h-sc/ui?s=NOG...d=p69764162556

Volume's picked up over the last 7 days.

Excellent breakout. Looks toppy now though.

NOG looking good for 3rd day in a row, Key here is the assessment/briefing coming out about Bakken area and amount of recoverable oil resources in that area. Took 1-2 years for report to come out so should be interesting this afternoon.

WASHINGTON, D.C.) --- U.S. Senator Byron Dorgan (D-ND) announced today that an eagerly awaited report on the estimate of undiscovered, technically recoverable oil resources in the Bakken Shale formation of North Dakota and Montana will be released Thursday, April 10.

Dorgan and the U.S. Geological Survey (USGS) will host a briefing to announce the study on Thursday in Washington, DC.


In 1995, the USGS assessment of technically recoverable oil resources in the Bakken was 151 million barrels of oil.

Dorgan asked the U.S. Geological Survey to complete a new study that would give the oil industry and the public a good estimate of the technically recoverable oil resources that exist in the Bakken Shale.

“It’s clear that the Bakken Shale formation contains a significant amount of oil, and its development could be a boost for North Dakota’s economy and U.S. energy independence,” Dorgan said. “This study will give us an up-to-date picture of the potential for oil development in the region.”

Ya i am looking forward to the news, i got a little money on this one. :crosses fingers:

From the USGS website: North Dakota and Montana have an estimated 3.0 to 4.3 billion barrels of undiscovered, technically recoverable oil in an area known as the Bakken Formation. A U.S. Geological Survey assessment, released April 10, shows a 25-fold increase in the amount of oil that can be recovered compared to the agency's 1995 estimate of 151 million barrels of oil. Technically recoverable oil resources are those producible using curre

Not as good as expected it looks like, NOG going down now

It didn't tank as bad as i thought it would. Maybe in the morning.

Yesterday and into today were interesting.
I think there was a lot of profit taking and then it got hit with a bunch of panice selling. Not going to lie, I had the thought of selling some and taking profits.
What it comes down to is that I like this stock and the potential.
Over the course its been on a steady rise....some moments were it dips, but overall steady rise.
Yesterday's news was definitely positive. Next week, the 15th, they are scheduled to tap some more locations and I think we'll get more positive news.
This is all IMO of course. I'd love to hear some other opinions.

Any thoughts?

Up Today

It's up almost a dollar today. How much farther?

Can't imagine it won't pullback soon.

I definitely think it will pull back some. As its done over the past several days when it goes up....and past months really.
But overall i think it will have the pullbacks as people will always take profits, but over time it has steadily gone up.
Great company and if you can stomach some of the pullbacks then over time I believe it has a long way to go up.

All in my opinion of course and I would love to hear some other thoughts

we may be lucky for a few more days up bc of selling that happened when news came out about recoverable oil in Bakken area. Some put it down and said not as much as expected but bottom line is it is impressive(4 billion barrels+) and only 2nd to alaska for recoverable amount. Bakken plays are hot now and may still head north for a while as many panic sellers exited few days back. GLTA

Good to see them believe in their Company

Northern Oil & Gas Director Robert Grabb buys 80,000 shares of common stock


NEW YORK (AP) -- A director of Northern Oil & Gas Inc. bought 80,000 shares of common stock, according to a filing with the Securities and Exchange Commission.
In a Form 4 filed with the SEC Monday, Robert Grabb reported buying the shares on Friday for $9.02 apiece.

Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.

Northern Oil & Gas is based in Wayzata, Minn.

I assume this is a good thing? Buying shares in a company you work for i mean.

I won't sit here and say I have all the answers...

But Yes...In my opinion that would be a good thing. I would think he invests thinking good things are happening

Seems like a smart move

WAYZATA, Minn., April 16 /PRNewswire-FirstCall/ -- Northern Oil and Gas, Inc. (Amex: NOG - News; "Northern Oil") announced today that it has entered into a land bank arrangement with Deephaven MCF Acquisition, LLC ("Deephaven"), an affiliate of Deephaven Capital Management LLC, pursuant to which Northern Oil may acquire leases having an aggregate value of up to $8.1 million. Under the arrangement, Deephaven will acquire certain qualifying leases in the Bakken Shale play in Mountrail County, North Dakota, which leases can then be acquired by Northern Oil at any time during the initial year that Deephaven owns such leases.
ADVERTISEMENT


"We believe that our land bank arrangement with Deephaven provides us the liquidity and flexibility to continue to increase our leasehold position in Mountrail County, North Dakota in an aggressive and efficient manner," stated Michael Reger, Chief Executive Officer of Northern Oil. "The land bank provides us the opportunity to preserve capital as we continue to monitor accelerated drilling activity."

About Northern Oil and Gas, Inc.:

Northern Oil and Gas, Inc. is an exploration and production company based in Wayzata, Minnesota. Our core area of focus is the Williston Basin, specifically the Mountrail County, North Dakota area Bakken Play where the company controls approximately 32,000 net mineral acres. Northern Oil's secondary objective is conventional, 3D driven, oil and gas exploration and development throughout the Rocky Mountain region.

More information about Northern Oil and Gas, Inc. can be found at www.northernoil.com.

Safe Harbor: