Oil, Gas and Consumable Fuels
Company Overview of Norstra Energy, Inc.
Norstra Energy, Inc., an exploration stage company, focuses on the exploration and development of oil and gas properties in the United States. It owns a 100% interest in the Lerado Extension project covering approximately 40 acres of land located in Reno County, Kansas. The company was formerly known as Norstra Inc. and changed its name to Norstra Energy Inc. in November 2011. Norstra Energy, Inc. was founded in 2010 and is based in Laredo, Texas.
414 Manor Road
Laredo, TX 78041
Founded in 2010
Key Executives for Norstra Energy, Inc.
Chief Financial Officer and Principal Accounting Officer
Compensation as of Fiscal Year 2013.
Norstra Energy, Inc. Key Developments
Norstra Energy Inc. Enters into a Farm-In Agreement with BNV Energy Company LLC
Jun 23 14
On June 16, 2014 Norstra Energy Inc. entered into a Farm-In Agreement dated June 6,2014 with BNV Energy Company LLC (BNV) of Houston, Texas and Super Nova Petroleum Corp. (Super Nova). Pursuant to the new Agreement, BNV shall have the option to earn at 60% working interest in roughly 5,382 acres of the Milford Colony lands currently optioned by Super Nova. To earn the 60% interest, BNV is required to drill two natural gas wells on the Milford Colony lands at an aggregate cost of approximately $1,000,000. BNV shall have until September 30th, 2014, to secure financing for the first well, whereupon it will be entitled to receive warrants to purchase 4,000,000 common shares of Norstra exercisable for two years at $0.125 per share during year 1 and $0.15 per share during year two. No warrants will be issuable if the $400,000 budget for the first well is not paid into escrow by September 30, 2014. Funding of the second well must be secured by June 15, 2015. Upon completion of each well, BNV shall have earned the 60% working interest in relation to the lease tract associated with that well with no further drilling or carry obligations. If the wells are commercially viable, BNV will be required to construct a gas gathering system which will collect natural gas for the wells, and feeds it to the 16" Northwestern Energy pipeline close by the project. The total AFE cost that BNV will be required to spend for the gathering system is approximately $500,000. BNV will retain ownership of the gathering system, provided that Norstra shall have an option to purchase the system and to charge a fee for its use.
Norstra Energy, Inc. announced delayed annual 10-K filing
May 30 14
On 05/30/2014, Norstra Energy, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.
Super Nova Enters into Farmout Agreement with Norstra Energy Inc
Jan 16 14
Super Nova Minerals Corp. announced 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.
Similar Private Companies By Industry
Recent Private Companies Transactions
July 30, 2013