(Date
of
Event which Requires Filing of this Statement)
If
the
filing person has previously filed a statement on Schedule 13G to report the
acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box. [ ]
Present
principal occupation or employment: President of Great North Capital
Corporation
(d)
During
the last five years, Mr. Polinsky has not been convicted in a criminal
proceeding (excluding traffic violations or similar
misdemeanors)
(e)
During
the last five years, Mr. Polinsky has not been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction
and as a result of such proceeding was or is subject to a judgment,
decree
or final order enjoining future violations of, or prohibiting or
mandating
activities subject to, federal or state securities laws or finding
any
violation with respect to such laws
(f)
Citizenship:
U.S.A.
Item
3.
Source
and Amount of Funds or Other Consideration
The
shares of the Company were acquired as a result of a merger between
the
Company (formerly Kentex Petroleum, Inc.) and pre-merger Northern
Oil and
Gas, Inc., a Nevada corporation. The shares of pre-merger Northern
Oil and
Gas, Inc. were acquired with the reporting person’s personal
funds.
Item
4.
Purpose
of Transaction
Mr.
Polinsky acquired the shares of the Company’s common stock (described in
Item 3 above) for investment purposes.
Subject
to the ongoing evaluation of the Company as an investor and other
than in
connection with his responsibilities as a director, currently Mr.
Polinsky
has no plans or proposals which relate to or would result in any
of the
following, other than as discussed above:
(a) The
acquisition by any person of additional securities of the Company,
or the
disposition of securities of the Company, except in the ordinary
course
based on regular investment decisions;
(b) An
extraordinary corporate transaction, such as a merger, reorganization
or
liquidation, involving the Company or any of its
subsidiaries;
(c) A
sale or transfer of a material amount of assets of the Company
or any of
its subsidiaries;
(d) Any
change in the present board of directors or management of the Company,
including any plans or proposals to change the number or term of
directors
or to fill any existing vacancies on the board;
(e) Any
material change in the present capitalization or dividend policy
of the
Company;
(f) Any
other material change in the Company’s business or corporate
structure;
(g) Changes
in the Company’s charter, bylaws or instruments corresponding thereto or
other actions which may impede the acquisition of control of the
Company
by any person;
(h) Causing
a class of securities of the Company to be delisted from a national
securities exchange or to cease to be authorized to be quoted in
an
inter-dealer quotation system of a registered national securities
association;
(i) A
class of equity securities of the Company becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the
Securities
Exchange Act of 1934, as amended, or
(j) Any
action similar to any of those enumerated above.
Item
5.
Interest
in Securities of the Issuer
(a) The
following table sets forth the aggregate number and percentage of
shares
of the Company’s common stock beneficially owned by the Reporting Person
herein:
Reporting
Person
Shares
Beneficially Owned (1)
Percentage
(2)
Douglas
M. Polinsky
4,382,500
19.3%
(1) Includes
2,000,000 shares held by Mr. Polinsky directly, 1,477,500 shares
of common
stock held by Great North Capital Corporation and 905,000 shares
of common
stock held by Lantern Advisors, LLC.
(2) Percentage
calculation based on total number of outstanding shares of the Company’s
common stock as of March 20, 2007. Shares of common stock that are
issuable upon exercise of outstanding warrants or options, to the
extent
exercisable within 60 days, have been treated as outstanding for
purposes
of calculating percentage
ownership.
(b) For
the Reporting Person under paragraph (a), the following table sets
forth
the number of shares of the Issuer’s common stock as to which there is
sole power to vote or direct the vote, shared power to vote or direct
the
vote, sole power to dispose or to direct the disposition, or shared
power
to dispose or to direct disposition.
Reporting
Person
Sole
Power
to
Vote
Shared
Power
to
Vote
Sole
Power of
Disposition
Shared
Power
of
Disposition
Douglas
M. Polinsky
3,477,500
905,000
3,477,500
905,000
Mr.
Polinsky is the President of Great North Capital Corporation and, therefore,
Mr.
Polinsky exercises the power to vote and to dispose of the 1,477,500 shares
of
the Company’s common stock beneficially by it. Further, Mr. Polinsky is one of
the controlling members of Lantern Advisors, LLC and therefore shares of
the
power to vote and dispose of the 905,000 shares of the Company’s common stock it
owns. The following information is the information required by Item 2 above
for
these entities.
(a) Neither
entity, including any of its shareholders or members, within the last five
years, has been convicted in a criminal proceeding (excluding traffic violations
or similar misdemeanors.)
(b) Neither
entity, including its
shareholders or members, during the last five years, has been a party to
a civil
proceeding of a judicial or administrative body of competent jurisdiction,
and
as a result of such proceeding, was or is subject to a judgment, decree or
final
order enjoining
future violations of, or prohibiting or mandating activities subject to United
States federal or state securities laws or finding any violation with respect
to
such laws.
(c) For
the information describing transactions in the Company’s common stock
within the last sixty (60) days, see Item 3 above.
(d) Not
applicable.
(e) Not
applicable.
Item
6.
Contracts,
Arrangements, Understandings or Relationships with Respect to Securities
of the Issuer
None.
Item
7.
Material
to Be Filed as Exhibits
None.
Signature
After
reasonable inquiry and to the best of my knowledge and belief, I certify that
the information set forth in this statement is true, complete and correct.
