I closed my position last week with a small loss, because where there is smoke, there is usually fire. Why take a chance? Notice that they didn't go after the integrity of OAS or BEXP. Many other oil/gas stocks are available without this kind of controversy. I'll bet there are a few large institutional holders and hedge funds trying to unwind their huge NOG positions about now.
http://finance.yahoo.com/q/mh?s=NOG+Major+Holders