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Norstra Energy, Inc. (NORX)

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Last Post: 9/14/2014 9:37:37 PM - Followers: 55 - Board type: Free - Posts Today: 0
http://www.otcmarkets.com/stock/NORX/company-info // http://www.norstraenergy.com/

Summary

Norstra Energy Corporation is a Texas and Montana based oil and natural gas exploration company focusing exploration efforts in the under-exploited southern portion of the Bakken-Alberta Fairway in the central portion of western Montana.

Through a continuously growing team of seasoned oil-patch technical experts, energy entrepreneurs and energy project finance experts, Norstra looks to rapidly and methodically grow into a meaningful oil producer.

With lease rates in the Alberta Fairway not yet feeling the inflationary pressures of the eastern Bakken and Williston basins, but exhibiting the same superb economics, Norstra's business plan will consist of drilling high probability wells within this up-and-coming area, with the goal of consistently increasing shareholder value.

Management

Glen Landry, President and CEO
Glen Landry is a seasoned exploration geologist with almost 40 years of experience. Mr. Landry received his Bachelor of Science in Geology from the University of Montana in 1974. Since then, he has accumulated over 30 years of experience in the oil and gas industry alone. After finishing his degree he was employed as a consulting geologist for a number of mineral as well as oil and gas exploration companies, including Johns-Manville, Westinghouse, Peter Kiewitt, Chevron and Marathon throughout Montana, Wyoming and Alaska.

During the 1980s he was President of Western Reserves, a Billings, Montana company engaged in exploration and production of oil and gas. The company was involved in a number of successful joint ventures as well as property acquisition of over 150 wells from Texaco. During this time he was also engaged by Occidental to undertake exploration work on claims in northwest Montana. After resigning from Western Reserves, Mr. Landry was again active as a consulting geologist for companies such as Apache and EnCana. Since 1997, Mr. Landry has been an independent exploration geologist and has been undertaking exploration and development work of a large number of oil and gas concessions throughout Montana. His focus has been on underdeveloped Alberta Fairway Bakken properties as well as heavy oil reserves in northwest Montana.

Dallas Kerkenezov, CFO
Dallas Kerkenezov significant experince in oil and gas operations, cost structures and project management and planning. Currently Mr.Kerkenezov owns his own construction company that primarily develops infrastructure and platform construction for the oil industry. Mr. Kerkenezov has also worked in the Yukon helping run staking and drilling crews for various mineral exploration companies.


Project Overview


The South Sun River Bakken Prospect is an over-pressured Bakken shale resource play in Lewis & Clark County, Montana, in the developed Bakken Fairway that extends southwards from Alberta, Canada into northwest Montana.  Potential oil production is estimated throughout the literature and publications at 10-15 MMBO per square mile in areas where the Bakken is thermally mature and where the critical middle Sappington Member is between 20’-30’ thick.  It encompasses a superb land package of 10,097.99 mineral acres.  It is where the western edge of the Bakken Fairway plunges into contact with the tectonically heated Thrust Zone and where we believe the resulting thermal maturity of the Bakken offers the highest potential for oil production.


Oil generation from organically rich shale units is considered to commence at Ro=0.65%, with peak oil generation occurring at Ro=1.00% and the end of oil generation occurring when Ro >1.3%.  Ro values associated with the Bakken range from 0.6% in the east to >1.00% toward the west and south.

Reservoir quality in the middle member of the Bakken, known as the Sappington, is generally poor to fair, and is a calcite cemented siltstone. The porosity of the Sappington typically falls within the 3-10% range, but can reach as high as 15%. Permeability is also typically low in the 1-20 md range. However, resistivity readings in the Bakken have been recorded as high as 25,000 ohms. While oil generation has been recorded with resistivity as low as 35 ohms, this makes the Bakken formation an excellent candidate for horizontal completion techniques.

Specifically, the prospect lies within the key oil producing zone where thermal maturity (Ro) is between 0.7% and 1.5%. Oil production begins when Ro is above 0.65% and slows when Ro is over 1.3%.


The Total Oil Content (T.O.C.) readings in the prospect area are high as well, reading between 7% and 14%, and water content of the Bakken in the area is low.

There are excellent resistivity readings in the Upper and Lower Bakken members in key wells in the prospect area. The wells show excellent sections of the Bakken with resistivity readings over 400 ohms, well in excess of the minimum 35 ohms needed for possible oil production. The Middle Member of the Bakken, known as the Sappington Silt, is also well developed, with adequate porosity (3-15%) and permeability (1-20 md) for oil production.

Below are several wells in the prospect area and their Bakken section thickness and corresponding resistivity readings.

Sec.22 T17N-R6W ARCO/Steinbach # 1 Bakken: 76' Ohms: >2,000
Sec.32 T18N-R5W Shell/Krone 31-32 Bakken: 70' Ohms: 400
Sec.3-T14N-R6W Suncor/Flesher 14603 Bakken: 52' Ohms: 100- 300
Sec.9-T19N-R8W Sun Exploration/JB Long # 1-9   Ohms: >200

RESISTIVITY

Although resistivity values do not distinguish whether oil has been generated in situ within the shales at a given location, or has migrated into the shales, extensive Bakken core research by Schmoker and Hester (1990) has indicated that a resistivity value of greater than 35 ohm-m coincides with the onset of observable oil generation within Bakken shale.

Electric logs in the South Sun River Bakken Prospect area record resistivity readings in excess of 400 ohms, and over 2,000 ohms in certain wells. The Bakken is oil productive with as little as 35 Ohms. Currently, there is intense leasing activity in the area as many major companies are rapidly acquiring lease positions. Majors like Newfield Energy, Anschutz, Rosetta Resources and at least a dozen other companies have been extremely active in the area. Primary Petroleum and their major partner are just completing their last well of a 6 well drilling program in the South Sun River Bakken Prospect area.

Well control in the vicinity of the South Sun River Bakken Prospect displays excellent maturity in the Bakken that is superior to the above model.  The Bakken is at a depth of 6,896’ feet in the key Krone # 31-32 well drilled by Shell.  Resistivity in the Krone 31-32 well is in excess of 400 ohms, and throughout the South Sun River Bakken Prospect.  All the reference wells can be found on this website under the tab “Reference Wells”.

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#7670   I can only hope you are right because techno53 09/14/14 09:37:37 PM
#7669   Been long on NORX for 17 months. Been Duediligence 1 09/11/14 08:12:56 AM
#7668   Norx is drilling away and has already had Duediligence 1 09/11/14 08:00:39 AM
#7667   That is a good question as the pps techno53 08/16/14 08:40:52 PM
#7666   any thoughts on when drilling comes???? buccaneer1961 08/03/14 01:01:24 PM
#7665   No news on the NORX board. techno53 08/01/14 08:58:03 PM
#7664   I'm riding it out until the year's end techno53 07/14/14 08:32:37 PM
#7663   There's a lot of problems with that PR. bearspread 06/17/14 03:29:48 PM
#7662   The problem with this PR is it is techno53 06/15/14 07:30:53 PM
#7661   CNSX : SNP CleanTechia 06/12/14 01:31:16 PM
#7660   At least we can get a tax write techno53 06/01/14 09:00:14 AM
#7659   I wrote this pos off a while back. screened out 05/25/14 11:46:04 AM
#7658   Most likely writing this stock off for taxes techno53 05/25/14 09:40:38 AM
#7657   I've tried with 3 other energy stocks bearspread 05/19/14 02:00:01 PM
#7656   I bought into the NORX hype for a FlPanther 05/15/14 12:41:52 PM
#7655   I did a while back learned a lot screened out 05/14/14 11:55:12 PM
#7654   I'm deciding whether to right this one off techno53 05/10/14 07:19:04 PM
#7653   I can't believe these crooks are still operating. GD450 05/05/14 04:56:55 PM
#7652   I'm a bit confused according to the article bearspread 04/30/14 03:47:19 PM
#7651   I'm a bit confused according to the article phil85 04/30/14 01:44:16 PM
#7650   Well don't they have a 4-5 year lease phil85 04/30/14 01:17:49 PM
#7649   Where's the drilling equipment at? When are they bearspread 04/30/14 12:46:31 PM
#7648   Drill baby, drill. Where's the drilling equipment techno53 04/29/14 12:04:08 PM
#7647   More Supernova/Norstra updates: stufit 04/25/14 08:41:27 PM
#7646   Norstra-Super Nova Update: stufit 04/16/14 07:30:42 PM
#7645   Wish this stock (Norx) would take off bearspread 04/08/14 01:32:03 PM
#7644   Wish this stock (Norx) would take off. techno53 04/06/14 07:27:18 PM
#7643   Keep an eye on SNOVF. It has elcoloradokid 04/04/14 11:27:44 PM
#7642   We will see what happens to the pps techno53 03/23/14 02:31:02 PM
#7641   News for Supernova/Norstra: stufit 03/21/14 10:37:47 AM
#7640   Glad to see Norx recovered the $.05 pps today. techno53 03/17/14 07:31:19 PM
#7639   i sure don't haven't heard anything however looked phil85 03/15/14 12:59:38 AM
#7638   Does any one know what the hell is screened out 03/12/14 05:21:00 PM
#7637   I wonder when the funds will be available techno53 03/02/14 12:48:50 PM
#7636   A recommendation for a gray sheet stock. HAHAHAHHA cayman_west 03/01/14 01:58:04 PM
#7635   Short Term Indicators Average: 100% Buy !! bearspread 02/28/14 05:00:30 PM
#7634   Short Term Indicators Average: 100% Buy !! witte 02/27/14 03:41:47 AM
#7633   This should thrill NORX investors bearspread 02/20/14 11:58:30 AM
#7632   Thanks for posting looks good! Juwels 02/20/14 11:28:47 AM
#7631   This was the update I received Loyal Investors- We phil85 02/19/14 10:47:56 PM
#7630   SNOVF McAffee - not exactly bearspread 02/19/14 04:28:31 PM
#7629   anyone else just receive the email about SNOVF phil85 02/19/14 02:54:47 PM
#7628   I wonder if Norx partner will come up bearspread 02/17/14 03:30:20 PM
#7627   Up and down the pps goes. I techno53 02/16/14 07:19:16 PM
#7626   great action today ! witte 02/11/14 03:11:05 PM
#7625   I will be interesting what happens in the techno53 02/09/14 08:55:59 PM
#7624   Whatever it takes to get the drilling done. bearspread 02/03/14 01:26:24 PM
#7623   Going forward we will see how this partnership techno53 02/02/14 07:19:56 PM
#7622   Exactly well said ! Juwels 01/31/14 07:34:46 PM
#7621   Whatever it takes to get the drilling done. Juwels 01/31/14 07:31:17 PM
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