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Norstra Meets Initial Farm in Requirements; Approved for German Listing
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
