It will be hard to find one trader in the world who lost money by buying shares in the penny stock of Bakken explorer Norstra Energy Corp. (OTC: NORX) this month. Since the new player in the energy game entered the OTC trading arena at the beginning of the month, well see for yourself on the chart. Shares of NORX stock, despite the lack of any single trading session exceeding 150,000, have been nothing less than “balls out bullish” and look like a strong candidate to grow wings once April comes around.
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NORX Stock Quote at 11:08:42 AM
Market Cap: 35.41M
Last: 0.48 (no change)
Dollar Volume: $90,125
Issued and Outstanding: 73,763,100
14-Day Rel Strength: 82.55%
14-Day Stochastic: 86.21%
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Since the Norstra energy announced that seasoned, third generation geologist from the University of Montana, Glen Landry, is the CEO and President of the start up Company, shares in its stock have been getting passed around like savings bonds – traders are happy to own them, but refusing to redeem them just yet. It’s a good thing too cause while Awesome Penny Stocks has spent a ton of money hying up their Goff Corp. (GOFF), NORX stock has performed comparable with gains closing in on 30% now.
More than a year ago, Norstra Energy entered into an agreement to purchase for $15,000 a 100% working interest and an 80% net revenue interest in an oil and gas lease in Reno County, Kansas. As of Q3, 2012, they had yet to do any exploring or developing on the leased claim.
In the middle of March, Norstra announced a deal whereby the Company entered into a farm-out agreement with Summit West Oil, LLC. for the South Sun River Bakken Prospect – identified by the Company’s management as an excellent target for a Bakken well. With more than 10,000 acres of prime Bakken acreage and nearly a decade left on most of the leases, the deal is look upon as a simple, basic horizontal drilling project.
According to their report, the Company will pony up $200,000 for short term working capital and commit to drilling and completing the first well into the Bakken Oil Formation by the end of this year. A 2nd is scheduled to be drilled and completed by mid-2014 and a 3rd by the end of 2014.
If, or when, Norstra completes any of these 3 drilling projects, they will have earned the right to as much as a 100% working interest in the entire acreage — the whole kit and caboodle. During that time, those who helped to finance the non-operating entity until that first bit of machinery gets ordered for drilling will be making out nicely, especially if NORX stock can keep climbing like it is on low volume.
A year ago, prior to Norstra effectuating the recent 2-for-1 split on NORX stock, they issued 20,513,000 post-split shares for $10,257 (cost basis: $0.0005); another 10,000,000 post-split shares to cover a $5,000 debt (cost basis: $0.0005); and another 10,000,000 shares to satisfy a $5,000 stock subscription (cost basis: $0.005). In July and August, 31,250,000 post-split shares were issued for $31,250. And, finally, in September, 2,000,000 post-split shares were issued for cash proceeds of $2,000.
While NORX stock is looking like a prime candidate to be the next SMA pick, aka Penny Stock Wizard, for now it’s all green and all systems go as the shares are obviously trading, news is flowing, and the snow will soon stop falling in Montana for work to begin.
About NORX Stock
Norstra Energy Corp. is a development stage 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.
Last 5 Trading Sessions:
Bottom Line: NORX is looking strong and should, if not already, be on of the top choices for penny stocks which could soon see a high profiled promotion. Getting into NORX stock below the $0.50 level looks to be a sure fire lock for no less than 50% gains from here — even without a promo pushing it. When volume exceeds 300,000, you know then its game on. The fact that they changed the logo and updated their website layout is a very strong sign.
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