A large blanket deposit covering hundreds of square miles is present and is currently being developed by over 200 drilling rigs in the Williston Basin of Montana and North Dakota. The Bakken Fairway in Northwest Montana, where the South Sun River Prospect is located, is very similar in geology and in log comparisons. Resistivity on logs, regional isopach maps of Bakken maturity, and the extensive existing seismic data guides the drill site selection for development of the project. The Company believes that the South Sun River Bakken Prospect is well within the maturity window and oil is confirmed with the offsetting Krone well that is just over 1 mile away that was drilled by Shell Oil Co. in the past while they were looking for deeper oil targets.
"This is a fantastic opportunity for Norstra and its shareholders," said Mr. Landry, the company's CEO. "I believe that this area of Montana could become the next Williston basin in time and we're well positioned to be a player in the area," he continued.
About Norstra Energy Inc.
Norstra Energy Inc., a US based oil and gas Exploration Company with interests in over 10,000 acres of prime Bakken formation land in Montana. The company is targeting the South Sun River Prospect for a horizontal Bakken well proving the prospect from exploration to production.
This press release contains "forward-looking statements." 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, and specifically references to the maturity and potential of the South Sun River Prospect. The reader can identify these forward-looking statements by forward-looking words such as "may," "will," "expect," "potential," "anticipate," "forecast," "believe," "estimate," "project," "plan," "continue" or similar words. The reader should read statements that contain these words carefully because they discuss future expectations, contain projections of future results of operations or of financial condition, or state other forward-looking information. Forward-looking statements include, but are not limited to, statements regarding potential oil production, revenues, expansion efforts, and future plans and objectives of Norstra Energy Inc. The risk factors listed in our disclosure documents and the cautionary language on the Company's website provide examples of risks, uncertainties and events that may cause actual results to differ materially from the expectations and projections described by Norstra in its forward-looking statements. Actual results relating to, among other things, oil reserves, production, revenues and profitability could differ materially from those currently anticipated in such statements. Factors affecting forward-looking statements include: results of exploration activities, ability to secure operations staff and equipment; changes in the operating costs; changes in economic conditions, foreign exchange and other financial markets; changes of the interest rates on borrowings; in the investments levels; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which Norstra operates; technological, mechanical and operational difficulties encountered in connection with Norstra's development activities; and labor relation matters and costs. The reader should refer to the risk disclosures set out in the periodic reports and other disclosure documents filed by Norstra from time to time with the Securities and Exchange Commission and other regulatory authorities.
CONTACT: Norstra Energy Investor Relations