SOUTHLAKE, Texas, July 9, 2013 (GLOBE NEWSWIRE) -- Norstra WWW.NORSTRAENERGY.COM (OTCQB:NORX) would like to announce that an inspection was conducted by our Management at the drill site for the 13-11 Milford Colony well. Also, several prospective Investors flew to Montana during the last week of June and visited most of Norstra's operations, including the first staked well location (a photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=19745. Photo credit: Darryl L. Flowers, Publisher, Fairfield Sun Times).
With respect to Management's most recent visit and inspection, it was noted that the first drill site has several strategic and economic advantages over more typical scenarios:
1. The survey stake is less than 500 feet off the paved highway near the Colony facilities. A gravel road connects the future pad to the highway. No roadwork will be necessary.
2. Three phase power is present within 200 feet of the northeast corner of the pad.
3. A year round stream with Colony water rights is present within 300 feet of the west side of the pad. There should be no need for a water truck or water hauling.
4. The pad site is nearly flat requiring little excavation other than clearing the surface material.
5. Gravel for the pad can be obtained within 2 miles for $2.00 per yard.
6. A nearby water well drilled by the Colony across the road encountered smelly gas at 500 feet. The well was abandoned as a water well, but the presence of smelly gas suggests gas potential. The connection for gas sales is only 3 miles away with the option to sell backwards through the line delivering gas to the Colony. Norstra would not need a pipeline at least initially.
Glen Landry, CEO, Norstra stated:
"All in all this is without a doubt the best drill location I have ever seen. We can expect to save over $200,000 in the drilling and completion of this well.
"Norstra is excited to start work right away after receipt of our permit. Norstra has already confirmed that the selected drilling contractor is available to start setting surface casing for the company in late July."
Norstra is correcting a typographical error in our permit request so the permit will be deferred for another 10 days. When the new advertising period of 10 days has passed, the permit will be requested.
We strongly urge any prospective investors to obtain advice from a qualified investment professional prior to making any investment in our Company.
This news release may contain "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, exploration and development of our properties. Forward-looking statements include, but are not limited to, statements regarding the cost and availability of labor, water, utilities, and other materials in relation to our proposed drill site.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of minerals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
CONTACT: For further information Contact: Norstra Energy - Investor Relations Tyler Troup, B.Comm Phone: 1-866-865-2780 E-mail: firstname.lastname@example.orgSource:Norstra Energy Inc.