Norstra Energy Inc (NORX)

[DragonBear]

No reason to sell here at these prices, better to wait it out now to see if a well ever gets done. IMO

Doesn't matter if financing is obtained, and a well is drilled. The issue is the securities violations, and how soon (2-3 yrs) it takes for the SEC to file litigation.

What if by some miracle they obtained financing, and fracked into a good oil flow, as opposed to a dry hole? It's unclear to me if management of a previously suspended grey could ever buy its way out from under the SEC by paying larger fines. Most of these companies are in such dire financial straights, it's not even an option.

There's a high probability this company will undergo bankruptcy or liquidation in some future year, as a result of the suspension. In a quick pass over the filings it's unclear who owns the majority of the preferred stock. Any votes for Landry? Upon liquidation creditors, and then the preferred stock holders get the assets, be it a producing well, or dry hole. Note Landry also has two other private drilling-exploration companies. He may have options after the SEC is through with him, running him out of the market in the process. But it won't involve NORX stock.

Nothing wrong with waiting if you believe it's not worth selling - your choice. But it has nothing to do with past fundamentals or some ongoing event for the company. It's all about the SEC suspension, and trading games. GL in your decisions.