NEWS: Norstra Meets Initial Farm in Requirements; Approved for German Listing
2013-04-29 09:00 ET - News Release
SOUTHLAKE, Texas, April 29, 2013 (GLOBE NEWSWIRE) -- 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 begin_of_the_skype_highlighting 1-866-865-2780 FREE end_of_the_skype_highlighting
E-mail: ir@norstraenergy.com
Website: www.norstraenergy.com
Posted On: 04/29/2013 9:40:02 AM
Post# of 93
(0)
(0)
Top 10 Most Recent Blog Posts
Private Sector Employment Rises Despite Slower Momentum
Category: Economy Total Views: 204
By : Dylan Bailey Updated: 07-24-2024
U.S. Business Activity Hits 27-Month High in July
July's 27-month high in U.S. business activity suggests strong economic momentum. Rising from 54.8 in June to 55.0, the flash U.S. Composite PMI Output Index from S&P Global Since April 2022 this is the highest level. Tracking both manufacturing and services, the index has a reading above 50 suggesting growth. Driven by notable increases in the services sector, this consistent increase points to robust private sector expansion. The ris... Continue Reading
How to Protect Your Rental Real Estate Investment
Category: Real Estate Total Views: 204
By : Olivia Taylor Updated: 07-24-2024
Introduction to Protecting Your Rental Real Estate Investment
Renting real estate has become a go-to investment strategy these days. It's a good way to earn a consistent income and accumulate long-term wealth.
However, renting a real estate property comes with many risks. Your tenant can file a lawsuit against you, property damage risk and unforeseen circumstances can all spoil your investment success.
Therefore, be proactive in protecting your assets, and ensure a wise rental real ... Continue Reading
Weak Summer Demand, China Slowdown Hit Oil Markets
Category: Markets Total Views: 173
By : Thomas Cooper Updated: 07-24-2024
Oil Prices Edge Higher Amid Canadian Wildfires and Falling U.S. Crude Inventories
Though they stayed close to their six-week low, oil prices slightly rose on Wednesday. Prices started to rise following three consecutive sessions of drop. Falling U.S. crude inventories and supply concerns from Canadian wildfires were mostly responsible for this. September Brent crude futures climbed 66 cents to $81.67 a barrel. September U.S. West Texas Intermediate (WTI) crude rose by 78 cents to $77.74 per b... Continue Reading
Tax Disputes and Litigation: Strategies for Effective Resolution
Category: Personal Finance Total Views: 205
By : Kelly Martin Updated: 07-24-2024
Introduction to Managing and Resolving Tax Disputes
Tax disputes are an unavoidable aspect of business that can arise at any time and involve complex legal and financial issues. Whether it's a dispute over tax returns, audit findings, or tax assessments, the potential implications for a business can be significant, affecting not just financial stability but also the reputation of the company. Preparing effectively can make a substantial difference in the resolution process.
Preparing f... Continue Reading
3 Avoidable Marketing Mistakes Real Estate Startups Can Make
Category: Real Estate Total Views: 196
By : Ryan Hughes Updated: 07-24-2024
Introduction to Effective Marketing Strategies for Real Estate Startups
Starting a business is no easy feat. There’s less comfort in knowing that 90% of startups fail, according to 2024 data sourced from Exploding Topics. The same report found that new business success rates are 10 to 20% over the long term.
The odds against the real estate sector didn’t bode well. About 48% of real estate startups failed within four years. However, there’s still hope for aspiring entrepr... Continue Reading
U.S. Bond Yields Drop, Boosting Global Stocks
Category: Stocks Total Views: 283
By : Henry Turner Updated: 07-23-2024
Global Stocks Rise as U.S. Bond Yields Drop
As U.S. bond yields dropped, global stocks climbed to indicate a change in market mood. Key economic numbers and many company earnings reports are much awaited by investors. The market was not much affected by the decision of U.S. President Joe Biden to drop his reelection campaign. Rather, the emphasis is on forthcoming income as well as economic data. The benchmark U.S. 10-year note yield dropped 3.5 basis points to equal 4.225%. Usually, this fal... Continue Reading
Supply and Rates Boost Hope for Housing Market Rebound
Category: Real Estate Total Views: 265
By : Dominic Sanders Updated: 07-23-2024
Existing Home Sales Decline in June Amid Record-High Prices
June's declining U.S. existing home sales marked the fourth straight monthly drop. The lowest since December, sales dropped 5.4% to an annual pace of 3.89 million units. This drop happened even with a record-high median house price of $426,900, a 4.1% rise from year before. Economists had projected a less decline—to 4.00 million units. The market has been much affected by the high prices and rising mortgage rates. June'... Continue Reading
Tech Earnings Could Trigger Market Rotation and Volatility
Category: Markets Total Views: 310
By : Caleb Price Updated: 07-23-2024
Investors Brace for Volatility Amid Political Uncertainty and Tech Earnings
Investors are getting ready for a volatile U.S. stock market. Principal worries are political uncertainty, big tech profits, and seasonal weakness. The S&P 500 has surged almost 17% this year thanks in great part to the buzz over artificial intelligence and declining inflation. Still, there has been a quiet period of trading accompanying this expansion. Investors expect this calm to be tested not too far off. Afte... Continue Reading
Key Software for Fast-Growing Businesses
Category: Business Total Views: 331
By : Riley Hayes Updated: 07-23-2024
Leveraging Technology for Sustainable Business Growth
fast-growing companies must leverage technology to streamline operations, enhance efficiency, and safeguard their assets. The right software solutions can be game-changers, enabling businesses to scale effectively while maintaining control over various aspects of their operations. Here are some essential software types that fast-growing businesses need to consider.
The Importance of Software License Management
As businesses expand, t... Continue Reading
The Short Retirement Checklist for Ensuring Financial Stability
Category: Personal Finance Total Views: 337
By : Hannah Lewis Updated: 07-23-2024
Preparing for a Financially Secure and Fulfilling Retirement
Are you confident that your retirement plan will support your future needs? With the average American expected to live 20 years in retirement, it's more important than ever to ensure you have a solid financial plan.
This short guide will walk you through some of the key aspects of retirement planning, from setting clear goals and calculating your needs to managing your savings, maximizing contributions, and planning for taxes... Continue Reading