Norstra Meets Initial Farm in Requirements; Approved for German Listing
April 29 2013 - 9:00AM
NORSTRA ENERGY INC. WWW.NORSTRAENERGY.COM (OTCQX:NORX) ("Norstra"
or the "Company") announces that it has satisfied its financing
obligations under the farm in agreement with Summit West Oil by
providing funding for exploration activities on the South Sun River
Bakken Prospect. As previously mentioned by the Company, Summit
West has been impressed with Norstra's operations and has granted
the Company an additional three sections in the South Sun River
Bakken area under the same terms as the initial farm-in
arrangement.
"We now hold rights to over 12,000 acres and with the three new
sections we expect to pinpoint the first 2 well locations in short
time," said Mr. Landry, Norstra's CEO. "We are also actively
working on increasing our land position in the next few months and
have started negotiations with several parties."
Additionally, the Company engaged Renell Wertpapierhandelsbank
AG of Frankfurt, Germany to file an application with Deutsche
Boerse AG to list Norstra's shares on the Berlin Stock Exchange.
The Company's application was accepted in short order and its
shares are now trading on the Berlin Stock Exchange under the
symbol 2NE.
"We were eager to give our company additional exposure in Europe
during this phase of our corporate development and capitalize off
the significant momentum we have created on the ground and with the
investment community," stated Mr. Landry. "We recognized that
several German companies like BASF, for example, are moving parts
of their operations to the US to take advantage of the lower energy
costs and overall climate of the U.S. energy industry. We believe
that an American energy company like Norstra Energy Inc. will
create significant investor interest in Germany and throughout the
European Community," he continued.
In anticipation of the listing Norstra has updated its website
with a German version and initiated steps to open up a branch
office in Germany by no later than the end of May, 2013.
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 timing or outcomes of
exploration and drilling work on the South Sun River Prospect as
well as the company's ability to raise capital and secure investor
interest in Germany and the European Community. 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 drilling, wells, oil production,
revenues, expansion efforts, and 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,exploration
activities, 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: For further information regarding Norstra Energy,
please contact:
Norstra Energy - Investor Relations
Tyler Troup, B.Comm
Phone: 1-866-865-2780
E-mail: ir@norstraenergy.com
Website: www.norstraenergy.com
Norstra Energy (CE) (USOTC:NORX)
Historical Stock Chart
From May 2024 to Jun 2024
Norstra Energy (CE) (USOTC:NORX)
Historical Stock Chart
From Jun 2023 to Jun 2024