Northern Oil and Gas, Inc. closed on its direct registered offering of 6.5 million shares of its common stock. The company sold the shares at a price of $9.12, and received $56.2 million in net proceeds.

Northern Oil and Gas, Inc. said it would use the funds for working capital, to repay borrowings on its credit line, and possibly pursue acquisitions if any attractive assets could be found.

Northern Oil and Gas, Inc. is an exploration and production company headquartered in Wayzata, Minnesota. The company has three main areas of operations:

Bakken Shale – Northern Oil and Gas has 70,000 net acres under lease in Mountrail County, North Dakota. The company has a 100% success rate here, and has at least 220 future drilling locations.

Trenton/Black River – Northern Oil and Gas has 10,000 net acres in a leasehold in Yates County, N.Y, with exposure to natural gas.

Red River and Mission Canyon

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BEXP, Brigham Exploration Co.

MSGI, MSGI Security Solutions Inc, MSGI.OB

PennyOmega.com Watch List!

PennyOmega.com Watch List ! for Tuesday August 11, 2009

Our Picks at PennyOmega.com for Tuesday August 11, 2009 are:

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BEXP, Brigham Exploration Co.

BEXP engages in the exploration, development, and production of oil and natural gas reserves in the Rocky Mountains, Onshore Gulf Coast, Anadarko Basin, and west Texas.

BEXP holds property interests in the Powder River Basin located in Wyoming. It also holds property interests in the Onshore Gulf Coast consisting of the Vicksburg trend in Brooks County, Texas; Miocene and Upper Oligocene trends in Southern Louisiana; and the Frio trend in and around Matagorda County, Texas.

**Today, after Closing Bell, BEXP announced that

...

div style="text-align: justify;"span style="font-weight: bold;"Brigham Exploration (NASDAQ:BEXP)/span is getting very positive comments this morning after the co last night issued an operations update and announced that the Strobeck 27-34 #1H well came online with an initial rate of 2,021 boe/d from the Three Forks/Sanish (TFS) zone:br /br /span style="font-weight: bold;"- Jefferies /spannotes the first of three wells scheduled for completion this summer achieved a new record for BEXP ... it is also the second highest Three Forks Sanish (TFS) test in N Dakota. The Strobeck 27-34 (63% NRI; Mountrail County) flowed 2,021 boepd during the first 24 hours from the TFS. BEXP's prior record was 1,433 boepd from the Bakken. The highest report TFS test is XTO's (XTO, $35.85, Buy) Boucher 41X-21 well in Williams County at 2,571 boepd.br /br /span style="font-weight: bold;"Demonstrates that longer laterals, more frac stages is working ... /spanthe Strobeck is 3 miles away from BEXP's ...