Norstra Energy Inc (NORX)

[DragonBear]

SNOVF McAffee - not exactly

There is a PR out for SNOVF, where "McAffee" is way down in Texas, as opposed to the NORX property in Montana. The two don't connect.

As noted in my prior post SNOVF has a slew of these buy in agreements, a couple hundred $K here and there. PRs good for dumping more stock, and nothing ever happens.

The latest "McAffee" PR involves them having to pay out $650K for drilling and fracking, where drilling a hole and fracking typically costs $4M-$8M. Neither will the NORX-SNOVF cost of $1M likely to cover the cost of a Bakken well with fracking. For the real Bakken players the up front cost of $4M-$8M is easily financed and recoverable, even with a couple of dry wells mixed in.

Also with a slew of buy ins, farm ins whatever you wish to call it, the NORX-SNOVF agreement is in competition for funds with a slew of others - all to be financed by SNOVF continuing to dump stock on both sides of the Canadian/US border. Let's not forget the SNOVF insiders wants their cut of the stock proceeds.

It's going to be interesting to see what funding Landry actually announces being provided by SNOVF. The likes of SNOVF can claim anything, but NORX already previously suspended and a SEC filer can't afford to be too footloose in what it says.