Norstra Receives Drill Permit; Updates on Regulatory Issues; and Discusses Nearby Oil & Gas Exploration by Other Firms
July 30 2013 - 9:53AM
NORSTRA ENERGY INC. WWW.NORSTRAENERGY.COM (OTCQB:NORX) ("Norstra"
or the "Company") is pleased to announce that it has received
confirmation that all permits, bonds, and surveys have been
approved for the drilling of the 13-11 Milford Colony. Summit West,
the Operator for Norstra, has provided this confirmation. All
information will be posted on the Norstra website when
available. In addition, casing was delivered last Saturday.
The drilling contractor for the drilling of the 13-11 Milford
Colony is on another well at the moment. State regulators will not
allow the drilling rig to move until the ground dries out from the
recent rains. When possible, the rig will mobilize to the
13-11 Milford Colony. We anticipate that the rig will be
mobilized shortly.
The company's quarterly report on Form 10-Q was also completed
last week and will be posted on the website shortly.
Norstra continues to provide information for all requests by the
SEC, pursuant to subpoenas received by the company. Also, A
Form 15c211 is being completed by the company in conjunction with a
potential sponsoring market maker, and will be filed with the
Financial Industry Regulatory Authority as soon as possible. This
would potentially allow quotation of the Company's stock on higher
tiers of the OTC exchange.
REGIONAL OIL & GAS DEVELOPMENT
Bighorn Oil and Gas has presented a video of their prospective
drillsite which is 17 miles northwest of the Norstra site. The
thrusting appears very similar to the 13-11 Milford colony site on
their seismic. They are located near the JB Long well location
drilled by Sun Oil.
Fairways Exploration has had reported success in a vertical test
well in the Bakken in Teton county, which is located north of Lewis
and Clark County. The well was drilled for evaluation purposes
and has reportedly produced between 60-70 barrels from a vertical
completion.
"Any Bakken activity is good," says Glen Landry, CEO. "Instead
of keeping drill data and completion a secret, we intend on
allowing anyone to look at our logs and drill data to further
encourage development in the area."
DISCLAIMER
This press release contains "forward-looking statements."
Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future,
and specifically references to the Company being able to secure the
drilling permit, secure sufficient financing for the drilling of
the proposed well, as well as being able to complete the drilling
of a well on the Company's exploration properties. The reader can
identify these forward-looking statements by forward-looking words
such as "may," "will," "expect," "potential," "anticipate,"
"forecast," "believe," "estimate," "project," "plan," "continue" or
similar words. The reader should read statements that contain these
words carefully because they discuss future expectations, contain
projections of future results of operations or of financial
condition, or state other forward-looking information.
Forward-looking statements include, but are not limited to,
statements regarding potential oil production, revenues, expansion
efforts, future plans and objectives of Norstra Energy Inc. The
risk factors listed in our disclosure documents and the cautionary
language on the Company's website provide examples of risks,
uncertainties and events that may cause actual results to differ
materially from the expectations and projections described by
Norstra in its forward-looking statements. Actual results relating
to, among other things, oil reserves, production, revenues and
profitability could differ materially from those currently
anticipated in such statements. Factors affecting forward-looking
statements include: results of exploration activities, ability to
secure operations staff and equipment; changes in the operating
costs; changes in economic conditions, foreign exchange and other
financial markets; changes of the interest rates on borrowings; in
the investments levels; litigation; legislation; environmental,
judicial, regulatory, political and competitive developments in
areas in which Norstra operates; technological, mechanical and
operational difficulties encountered in connection with Norstra's
development activities; and labor relation matters and costs. The
reader should refer to the risk disclosures set out in the periodic
reports and other disclosure documents filed by Norstra from time
to time with the Securities and Exchange Commission and other
regulatory authorities.
CONTACT: Norstra Energy - Investor Relations
Tyler Troup, B.Comm
Phone: 1-866-865-2780
E-mail: ir@norstraenergy.com
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