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Keep an eye on SNOVF. It has doubled in value and looks as if it is on the verge of taking off.
We will see what happens to the pps for Norx next week and beyond.
Glad to see Norx recovered the $.05 pps today.
i sure don't haven't heard anything however looked like volume was decent today for no news.
Does any one know what the hell is going on with the millford well
I wonder when the funds will be available for drilling. There is a lot of oil in those hills.
A recommendation for a gray sheet stock. HAHAHAHHA
Short Term Indicators Average: 100% Buy !!
So bee it.
I'm only watching this one for the amusement, and educational value. Where the current set up is a NORX stock already suspended, and the CEO pushing the limits again with the SEC, if the SNOVF PRs can be believed. Where SNOVF is a Canadian stock with a bleeding balance sheet dumping stock like crazy, with no actual oil revenues. Will the Canadian authorities be next on the scene? We shall see how it turns out, and how it affects NORX. Meanwhile as you indicate, there's always the chart indicators, indicating sumpthin.
Short Term Indicators Average: 100% Buy !!
This should thrill NORX investors
From the Super Nova site, which my Firefox browser is warning may have been hacked, is the following in their news section:
Thanks for posting looks good!
This was the update I received
Loyal Investors-
We would like to thank you for your continued support of Norstra Energy (OTC: NORX) and Super Nova Minerals (CNSX: SNP | OTC: SNOVF) as we work towards the development of our world-class Bakken property. More and more we are finding encouraging signs of the real value locked inside these prolific oil and gas formations.
As many of you are shareholders of Norstra, it is important to follow the significant developments of their partner Super Nova Minerals-- as they are the ones actually paying to drill these wells. Super Nova is a Canadian company listed on the Canadian Securities Exchange (formerly known as the CNSX) under the symbol "SNP." For those without international trading access to Canadian markets, it also trades on the same exchange as Norstra, the OTC, under the symbol "SNOVF."
SNOVF has a Management and Board of Directors team which is highly experienced in oil & gas exploration, raising capital and developing successful emerging growth companies.
SNOVF is currently trading for around $0.04 (Norstra is currently at $0.20).
SNOVF has rapidly, but quietly expanded into 2 huge projects in Montana (a 10,000 acre partnership with Norstra and an additional 6,000 acres attached to these Norstra lands, which are fully owned by Super Nova), and a low risk, high reward Texas play just announced today (the McAfee project). Please see below for links to all three of these releases.
Please contact us with questions about direct investments in Super Nova.
News on the 10,000 Montana Bakken: http://norstraenergy.us4.list-manage.com/track/click?u=9149e476df51ab5ae30f09944&id=b7584d687b&e=c4eaad4487
News on the 6,000 Montana Bakken: http://norstraenergy.us4.list-manage.com/track/click?u=9149e476df51ab5ae30f09944&id=0a39e12e63&e=c4eaad4487
Today's news on the Texas acquisition: http://norstraenergy.us4.list-manage.com/track/click?u=9149e476df51ab5ae30f09944&id=f4aa6a8471&e=c4eaad4487
Happy Trading!
==============================================
you signed up to receive periodic investor updates at www.norstraenergy.com
Our mailing address is:
Circadian Group
3270 Electricity Drive, Windsor, ON, Canada
Windsor, ON N8W 5A7
Canada
Our telephone:
647-930-1037
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.
anyone else just receive the email about SNOVF and NORX? Looks like they acquired an additional 6,000 acres attached to the already owned Norstra lands entitled the Mcafee project.
I wonder if Norx partner will come up with the money for drilling
Have you looked at the Super Nova SEDAR annual filing? Per my prior posts, their only source of revenue is stock issuance. An operating cash flow of -$738K, with $0.00 revenue, won't have commercial banks fighting each other in order to offer em a loan.
Also note starting around page 16 they describe several "farm out" projects - remember those words from NORX? Neat is the one on page 17 requiring $700K, without even taking into consideration the cost to drill a well.
The annual came out last Sep. Despite chatter in the filing spuds were to be made starting in Aug, nothing announced since.
It appears NORX's "partner" has been playing the same game as NORX, only with a little more embellishment. Given Landry's past attempts to weave and match between his company, and another like Summit which had one of his relatives involved, does the same hold for Super Nova. So far no connection can be found, but information is scarce since the Sep filing which actually was closing the 2013 in May.
So what's the benefit for Landry? He can't dump NORX stock for a profit anymore. Thus, he better have some SNOVF stock as part of the "partnership" announcement. And again, all of that is currently in the dark.
Up and down the pps goes. I wonder if Norx partner will come up with the money for drilling. Time will tell the story.
great action today !
chart is setup for great run
I will be interesting what happens in the coming weeks.
Whatever it takes to get the drilling done.
At the current PPS of 0.05 it's going to take a SNOVF dump of 160M shares into the market to raise the capital. That's SNOVF's only source of capital - selling stock. As previously noted, they apparently weren't able to sell enough of their stock to prevent a -$732K cash flow in their last annual report to the Canadian regulators.
The swirling tea leaves predict you might see a NORX PR about some drilling activity. But again, the cost of $4M-$8M is beyond what both companies combined can afford. Not even close. Whether a PR causes a kaboomage based on resulting speculation in NORX a previously suspended grey stock is anyone's guess. But it has nothing to do with oil wells. Just a microcap trading game.
If you want good news, then a trader doesn't have to worry about an insider dump in NORX. Not with the SEC still watching. It's just you against the rest of the Retail market. However, trading SNOVF will be a real joy, if and when a big insider dump occurs. Where one has to be aware of the volume on the Canadian side. GL.
Going forward we will see how this partnership plays out.
Exactly well said !
Whatever it takes to get the drilling done. Loading while it's cheap because kaboomage will come around!
NORX and SNOVF held their value today, 1/31/14. Unusual for a struggling stock on a Friday. There is oil in them there hills. If SNOVF can not raise the capital to drill, the bottom will fall out of NORX stock and some other oil company will harvest that oil. If you own NORX stock, you can't afford not to invest in SNOVF in my opinion. What's another $500 bucks? No guts no glory.
If SNOVF can raise the capital for drilling then we will have a decent increase in the Norx stock price.
Only time will tell the story for Norx. GLT.
Bear I had came to the same conclusion
SNOVP shows no promise- another scam
As noted in a previous post:
It's about to get exciting. SNOVF shows a lot of potential.
Whith the drill starter NORX will rise, and this people is not kidding, it's a very professional team working in a good project. That's the real and only good news!
NORX good news... bad news
The good news is NORX says they have kept up to date on their filings. And they have for the usual 10K, 10Q.
The bad news is they are not up to date, now owing the market a couple of 8Ks: one for this material event, plus one for the latest SNOVF geology report.
The good news is SNOVF is volunteering to foot the bill for example Block #1 for $1.175M.
The bad news is the average cost to drill a horizontal well is $4M, and starts at $8M when fracking is introduced. The last filing for Super Nova Minerals Corp (annual 31-May) had a cash flow of -$738K, and their only source of revenue being convertible notes and/or stock sold. Balance of cash on the books: $1,522. Also note SNP hasn't been too forthcoming with disclosure since 30-Sep when the last Canadian "Certification of filings" for the annual went in on 30-Sep for the CEO.
The good news is oil has been found in the Montana Alberta Bakken, Pondera and Toole counties, north of Norstra’s South Sun River Prospect acerage. Presumably with attached NG.
The bad news is the Alberta Bakken has been uneconomical to produce oil (NG?) from, and would require an oil price in excess of $200/bbl. Clearbrook pricing for Bakken oil has been running close to $80.
NORX starts as an oil company. Runs afoul of the SEC while dumping its stock into the market. Now it has partnered with a Canadian company piggy backed as a Pink stock in the US market free to dump its stock into the market. SNOVF which up to now hasn't been able to sell enough of its stock to prevent a -$738K loss, has just taken on an obligation to finance the Block 1 well at $1.175M or 25% of the usual cost of drilling. The bait is the claim is some 3rd party geologist (Senior Lopez again?) has found the mother lode of all NG finds in the state of Montana "stacked" complete with oil at shallow levels. Which just so happens to have been overlooked by all the major Bakken oil and gas players for the past 20 yrs. And of course it will be hit on the first try, without any dry holes to worry about.
The real question: Is this an attempt by CEO Landry to scam using SNP as the front company? And how far does the SEC reach extend with the SNOVF piggy back pink shares?
Conclusion: The penny "investor still has nothing to "invest" in. The penny trader may have a speculative trade based on timing the speculation about how much "investing" speculation will occur.
Hey someone start the message board on SNOVF! Let's get it rocking 80% SNOVF!!
SNOVF give it shot! Hold on to NORX it's cheap what the heck! U never know in penny land maybe a life changing experience!
I'm in way too deep and willing to take some loss, but it seems that I'm just going to have to swallow it
If former investors of NORX or current investors for that matter are still hopeful that the location holds oil and natural gas then why hold onto the NORX shares? Wouldn't it be more beneficial to purchase shares of SNOVF who hold an 80% stake through the new farm out agreement? As a former holder I like the location and the prospect that there is oil and gas in the location, but since NORX is on the Grey sheets and the NORX management seems shady to me I can't figure out why anyone would still hold NORX. All comments welcome, good luck!
I hope youre right. Nothing like seeing Green on a Friday.
If the drilling rig is available there is np reason why they can't start drilling I have worked in the williston area and there should be no reason why they can't drill now. This new deal is interesting to say the least, wonder how it will work out. IMHO the best we all can hope for is to get off the grey sheets
You mean how far back we're going...........$2 like before!
So how far back down are we going?
It will interesting how this agreement pans out for all parties including the stock holders.
The PPS was down today. Looks like we need news on when they anticipate drilling again.
That is a very interesting article. I hope they find a window from the weather to resume the drilling operation.
That is what we hope will happen. GLT.
VANCOUVER, BRITISH COLUMBIA, Dec 13, 2013 (Marketwired via COMTEX) -- Wolf Wiese, CEO of Super Nova Minerals Corp. (CNSX: SNP)(OTC: SNOVF) (the "Company" or "Super Nova"), reports that the Company has decided not to proceed with the Elk Hills Project (see news release of August 22nd, 2013). The Company is negotiating with certain parties on an alternative oil project in Montana.
Norstra Energy, Inc.??!!
VANCOUVER, BRITISH COLUMBIA, Jan 16, 2014 (Marketwired via COMTEX) -- Super Nova Minerals Corp. (CNSX: SNP)(PINKSHEETS: SNOVF) (the "Company" or "Super Nova") announces that the Company has entered into a Farmout agreement with Norstra Energy Inc.. The Company will earn 80% working interest by drilling three vertical wells on the approximately 10,000 acres contiguous property. The property is divided into three blocks and the Company will earn 80% working interest for each vertical hole drilled on each of the three blocks.
The property is in North-West Montana in Lewis and Clark County on the Alberta Bakken Fairway. This property is located 60 km south-west of the city of Great Falls and State Highway 200 traverses the property.
The Millford Colony well on this property has been spudded, drilled and cased to 850 ft.. The Company intends to drill this well to a depth of 8,900 ft. to evaluate the Bakken formation and evaluate the shallow gas formations which have been identified in this area. A gas pipeline is located 5 km east of the property. The USGS, U.S. Geological Service, has recently doubled its estimate of technically recoverable resources from the Bakken and underlying Three Forks formation to 7.4 billion barrels of oil.!!!!! The prospective lands are in a new exploration area, and the Company hopes to further assess the Bakken potential in this area with the drill program. (Reference: http://www.doi.gov/news/pressreleases/usgs-releases-new-oil-and-gas-assessment-for-bakken-and-three-forks-formations.cfm.)
The Company has commissioned Chapman Petroleum Engineering Ltd. to author a National Instrument 51-101 report on the Millford Bakken property.
NORX Security Details
Share Structure
Market Value1 $7,650,000 a/o Jan 16, 2014
Shares Outstanding 38,250,000 a/o Jun 04, 2013
Float 33,250,000 a/o Mar 26, 2013
Authorized Shares 150,000,000 a/o Aug 31, 2012
Par Value 0.001
Shareholders
Shareholders of Record 12 a/o Jun 07, 2013
Security Notes
Note=Trading temporarily suspended by the SEC pursuant to Section 12(k) of the Securities and Exchange Act of 1934 from 9:30 AM EST on 06/26/2013 through 11:59 PM EST on 07/10/2013.
Short Selling Data
Short Interest 167,637 (-5.04%)
Dec 31, 2013
Significant Failures to Deliver No
Transfer Agent(s)
Norstra Energy Enters Into Definitive Farmout Agreement With Super Nova Minerals; Super Nova to Pay All Costs Associated With Drilling 3 Bakken Oil Wells
GlobeNewswire Norstra Energy Inc.
January 16, 2014 2:00 PM
SPOKANE, Wash., Jan. 16, 2014 (GLOBE NEWSWIRE) -- NORSTRA ENERGY INC. WWW.NORSTRAENERGY.COM (NORX) ("Norstra" or the "Company"), a company poised to expand the excitement of the Bakken Shale oil deposit in North Dakota & Eastern Montana, westerly towards the geologically promising Rocky Mountain front of Lewis and Clark County, Montana, is pleased to announce they have entered into a Farmout Agreement (the "Agreement") with Super Nova Minerals (CNSX:SNP) (SNOVF) (the "Farmee" or "Super Nova"), a Vancouver, BC based Oil and Gas Exploration and Production company listed on the Canadian Securities Exchange (Click here for real-time level 2 stock quotes, company news and filings: http://cnsx.ca/CNSX/Securities/Mining/Super-Nova-Minerals.aspx ).
Under the terms of the agreement, Super Nova will have the ability to earn an 80% working interest in Norstra's entire Milford Colony project In Lewis and Clark County, Montana covering roughly 10,000 acres. Norstra will be carried through the project owning a 20% working interest, without any further obligations of contributing capital towards the drilling of any oil and or natural gas wells. Norstra will remain in control of managing the project's technical decisions in conjunction with their operator Black Gold.
Under the terms of the agreement, the entire project is divided among three "blocks" which are to be earned by the Farmee by paying for and drilling a single vertical well on each of these blocks, to first evaluate for shallower natural gas formations, then continue to an approximate depth of roughly 8,900 feet to evaluate the Bakken oil formation. After details are revealed about the formation and its potential, the project operator in conjunction with Norstra and the Farmee may elect to then undertake additional development such as horizontal well legs and fracking programs.
Details of the timeline and investment obligation by Super Nova to earn the three blocks are as follows:
1) Block #1 -- (80% WI; 64.4% NRI) to the Farmee if:
a) $25,000 is paid to Norstra within 30 days from signing the agreement, and;
b) $15,000 is paid to Norstra 60 days from this agreement, and every month thereafter for 9 months, with a balloon payment occurring on the 365th day or before for $210,000, and;
c) $1,015,000 is paid to Norstra to drill and evaluate the Bakken formation within 12 months.
2) Block #2 & #3 -- (80% WI; 67.2% NRI) to the Farmee if:
a) $1,015,000 is paid to Norstra within 240 days of the completion of the well on block #1 to be used in drilling a Bakken targeted well on block #2
b) $1,015,000 is paid to Norstra within 240 days of the completion of the well on block #2 to be used in drilling a Bakken targeted well on block #3
It has been brought to the Company's attention that there are multiple productive natural gas wells within 7 miles of the Company's Milford Colony prospect. The Norstra lands have since been re-evaluated by the company and Super Nova's 3rd party consulting engineers, which has confirmed potential for shallower formations containing natural gas, providing a "stacked" play with multiple opportunities within one hole for both oil and gas. There is also a natural gas pipeline within 3 miles of the spudded and cased Milford Colony 13-11 well providing crucial nearby infrastructure for the company's gas potential.
Norstra would also like to report they have closed a $150,000 financing, which in combination with the funds due to the company within 30 days and every month thereafter in connection with this farmout agreement, provides the company with sufficient working capital for the foreseeable future. The company also intends to utilize some of the funds not employed in drilling to acquire new drilling prospects within the US.
All Investors who have inquired about, and intended to inquire about the Company's special preferred share offering to accredited Investors are encouraged to reach out to the company to discuss certain changes that have taken place.
Glen Landry, CEO, Norstra Energy said:
"The Company is very excited about this partnership with Super Nova for several reasons. First and foremost we are impressed with the credibility the Canadian resource market brings to the deal, and although the mining sector has been somewhat stagnant of late, the energy sector continues to flourish and raise money. Raising money for this project on an organized exchange like the CNSX in contrast to the OTC "market" will alleviate many Investor objections and qualify many more institutional and individual investors to participate. Canadian listed energy deals continue to attract capital on the international circuit so having the CEO of our new partner Super Nova, Mr. Wolf Wiese who is fluent in German, will definitely expand our reach and be part of our collective strategy going forward.
"This transaction potentially transforms Norstra into an oil project generator and land holding company using third party financing to drill our wells—which is a strategy to limit Shareholder dilution—and can be very successful when properly executed.
"Having been relegated to the Greysheets of the OTC Market, without any further clarity from the SEC, this transaction provides the best option for effectively raising capital to develop our Milford Colony project. After 12 months has elapsed after our suspension, and without further inquiry by the SEC, Norstra would be eligible to submit form 15c-211 to become a fully quoted OTCQB security once again. The company has maintained all of its SEC reporting requirements since the suspension, and is anxious to the possibility of additional market support in the near future."
The company encourages readers to join our e-newsletter located on the bottom left of the Company's website. The Company also encourage readers to review the information regarding the company, including among other items the Company's filings, located at http://www.otcmarkets.com/stock/NORX/company-info."
ABOUT NORSTRA ENERGY
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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.
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.
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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