SOUTHLAKE, Texas, July 30, 2013 (GLOBE NEWSWIRE) -- 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.
Norstra Energy - Investor Relations Tyler Troup, B.Comm Phone: 1-866-865-2780 E-mail:
