Norstra Chooses Drill Location
May 28 2013 - 9:00AM
NORSTRA ENERGY INC. WWW.NORSTRAENERGY.COM (OTCQB:NORX) ("Norstra"
or the "Company") is pleased to announce that its geological team
has identified the first drill location on the Company's South Sun
River Bakken Prospect.
The company has contacted its Billings, Montana based surveyor
to make plans for staking the ground as early as this week. The
surveyor will fine-tune the drill pad layout and final location
during his site visit in Lewis & Clark County. Once the stakes
are in the ground, Norstra plans to apply for its drilling permit
and submit the Form No. 22 R 10/09 to the Montana Board of Oil and
Gas Conservation. Based on Montana law, a 10 day advertising period
will follow and the permit is expected to be granted shortly
thereafter.
Mr. Landry, CEO & President, Norstra
stated: "This is a major step towards drilling the first
well on the South Sun River project. Based on the seismic
presentation by our geophysicist, and upon reviewing the ground
conditions of the area, we believe that the chosen drill pad
location is going to provide exceptional drilling results. The
drill location is easily accessible from the highway and the
company has already contacted the surface owners to negotiate a
surface use agreement, which we anticipate reaching an agreement in
short order. This is a major milestone for Norstra that puts us on
track to fulfilling our farm out obligation which requires us to
drill a complete well by December 31, 2013."
"We are very pleased with the corporate development of
Norstra—the advantage of being a smaller company like us is the
fast pace of execution. We are still on schedule to set surface
casing at the end of June or early July based on availability of a
rig."
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 and ability of the
Company to drill a well on the South Sun River Prospect, as well as
the the production and reserves of such a well. 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, 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, 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 Inc., please contact:
Norstra Energy - Investor Relations
Tyler Troup, B.Comm
Phone: 1-866-865-2780
E-mail: ir@norstraenergy.com
Website: www.norstraenergy.com
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