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Post# of 285889
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Britt

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Britt

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Tuesday, 08/13/2002 11:48:24 AM

Tuesday, August 13, 2002 11:48:24 AM

Post# of 285889
OBGL .21 x .42. Buyout at $5 per share announced ...

This PR came out late Friday night. Not sure what to make of it, but it's really cheap if true. Possible 10x profit from here.

PinkSheets.com: OBGL
http://www.pinksheets.com/quote/quote.jsp?symbol=OBGL

BigCharts: OBGL
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=obgl&freq=1&time=7

Baltic Oil Holdings Limited Intends to Merge With Oil Baltija Group, Ltd.

FRIDAY, AUGUST 09, 2002 8:58 PM - BusinessWire

NEW YORK, Aug 9, 2002 (BUSINESS WIRE) -- The Board of Directors of Baltic Oil Holdings Limited ("BOHL") has approved an agreement and plan of merger to merge Oil Baltija Group, Ltd. of New Jersey ("Oil Baltija") (OBGL) , of which BOHL owns approximately 90%, with and into BOHL.

Upon completion of the proposed merger, each share of Oil Baltija not owned by BOHL would be converted into the right to receive $5.00 (five dollars) in cash, for an aggregate purchase price of approximately $12,300,000 for the shares not owned by BOHL. BOHL intends to propose the election of certain nominees to the Board of Directors of Oil Baltija at Oil Baltija's annual meeting scheduled for August 23, 2002. If the agreement and plan of merger is approved by the Board of Directors of Oil Baltija and submitted to the shareholders of Oil Baltija for their approval, BOHL intends to vote its shares to approve the agreement and plan of merger. It is anticipated that the Board of Directors of Oil Baltija will call a special board meeting to approve the agreement and plan of merger in August, 2002 and, if it approves the agreement and plan of merger, call a special meeting of the shareholders of Oil Baltija in September, 2002 to approve the agreement and plan of merger.

CONTACT:
Baltic Oil Holdings Limited, New York
Vyacheslav A. Ivanov, 212/859-5021



Risk varies inversely with knowledge.

Risk varies inversely with knowledge.

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