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

Storm Cat Energy is an independent oil and gas company. Trading on the NASDAQ under the symbol SCU and on the Toronto Stock Exchange under the symbol SME, they focus on the exploration, production, and development of large, unconventional gas reserves. They look for these reserves primarily in fractured shales, coal beds, and tight sand formations. On a secondary basis, they look for these reserves from conventional formations.

The company has their U.S. and corporate office in Denver, Colorado and their Canadian office in Calgary, Alberta. Storm Cat has their producing properties in the Powder River Basin of Wyoming, and in the Arkoma Basin in Arkansas. They also have exploration and development acreage in Elk Valley, British Columbia. The company’s current total net production is 15.3 million cubic feet per day (MMcf/d).

During the second quarter of 2008, they invested $10.2 million in the Powder River Basin. This was for acquisitions,

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