UPDATE - Global Hunter Securities Upgraded Northern Oil and Gas (NOG) to Accumulate; Focused, Funded and Executing

UPDATE - Global Hunter Securities upgraded Northern Oil and Gas (NYSE: NOG) from Neutral to Accumulate with a price target of $24.00.

Global analyst, Philip McPherson, said, "NOG had a turbulent 2Q11 between weather issues in the Bakken Shale and issues surrounding the company's corporate governance. It would seem that the back half of 2011 should be a lot quieter on the corporate governance with Deloitte & Touche fully engaged as auditor and a lot smoother from an operational standpoint as the Bakken begins to dry out. NOG added over 12K acres in 2Q11 and is committed to spending $20MM per quarter to keep growing its undeveloped leaseholds. Given the stock's recent weakness and what would seem less noise surrounding management, we are raising our rating."

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