Company Overview Norex Energy (Northern Explorations Ltd.) (OTC BB:NXPN) is an energy exploration Company currently developing natural gas assets across North America. The Company has acquired a majority working interest in two natural gas projects located in California which show the potential to contain up to 50 BCF of gas and in Alberta, Canada which has the potential to contain 8 BCF gas with associated plant, pipeline and existing infrastructure. Norex is dedicated to the acquisition, exploration and development of outstanding natural gas opportunities across the United States and Canada. In Feb 2009, a payment of $376,692 was made for the acquisition of a 50% working interest in two California gas projects in the Central Valley of California. Norex is now working with the operators towards finalizing the planning of the first 2 gas wells for the 2009 development program. Plans are set to drill the first well in June and the second in July. Another 2 wells are earmarked for development in 2010. Norex aims to benefit from what would be a very short pay out period for seismic, drilling and pipeline tie-in costs at the two wells targeted in its 2009 California Project. If proven to be commercially viable, this may represent a venture with an in-situ value of greater than $50 million in contained gas as a majority working interest partner. The company plans to provide shareholder value through the assembly of asset and property combinations which will include exploratory promise, ongoing production, in-place infrastructure, growth potential and the ability to offer both short term returns as well as significant value over the long term. Norex Energy’s portfolio is believed to be high quality prospects. Its Californian interests holds potential to bring to commercially viable 2,000-3,000 Mcfd natural gas production that could create a positive cashflow position by end of Q3 2009. Estimated costs of drilling and completing the 2 wells in its 2009 development project is approximately $2.1 million all in. Pipeline and tie-in infrastructure costs are estimated at $550,000, resulting in a total project cost of $2.65 million in the current financial year. With PG&E Citygate pricing near $4.96 and given Norex’ 78% NRI to the 100% WI, we expect thus 39% of all revenues to its 50% WI and an ROI of less than 1 year. Norex wants to enhance its portfolio of energy projects by entering into the wind energy sector by means of strategic acquisitions in Texas & Wyoming wind corridor.
Posted by MoneyHoney on :
Looks like they had news after the bell.
Northern Explorations Signs MOU to Acquire West Texas Natural Gas Interests
SCOTTSDALE, AZ -- Northern Explorations Ltd. (OTCBB: NXPN) ("Northern," "Norex" or the "Company") is pleased to announce it has entered into an agreement with Swiss-based resource management corporation Dominus Energy AG whereby Norex intends to secure a percentage interest of Dominus' working interest in a large, gas production play located in West Texas.
The Texas Gas Project currently consists of 22 existing production gas wells located adjacent to the town of Ozona in Crockett County, Texas. The project encompasses 12,900 acres and is a well documented and prolific location enjoying the presence of actively established companies such as Chesapeake, Devon, EOG, XTO, and Quicksilver Exploration.
Norex President, Mark Schaftlein comments, "We are very pleased to enter into this agreement. This addition to our portfolio is extremely positive and an excellent fit that will rapidly enhance our corporate goals towards becoming an innovative producer of clean energy solutions for America. We anticipate that we should be able to announce a formal purchase and sale agreement shortly. Further announcements will be made as quickly as they become available."
The Company is a reporting issuer which provides public disclosure under the Securities Exchange Act of 1934. Complete details of our agreements will be filed as required by law and made available to the public under the auspices of the Securities and Exchange Commission (SEC).
Posted by Jacob14 on :
Wow this is awesome news. Gonna be fun on Monday...
Posted by MoneyHoney on :
Location: South Eastern Alberta, Canada Land Holdings: 18 sections or 11,500 acres Interest: 49% initially, up to 51% over 2 years Potential # of Wells: 72 Proved + Probable: Over 8 Billion Cubic Feet Potential Value: $67 Million After Initial Development Timeline: 15 Wells planned
The Norex Energy Alberta Project targets one of the few undeveloped gas fields in Alberta. The area is extremely sensitive to leasing issues. As leasing negotiations are currently underway this will not currently identify specific areas or formations. Norex Energy has identified Hydrocarbon potential in 5 formations including one that has shown oil producing potential by an oil reserve in close proximity. Norex Energy aims to develop the land package and gas processing facility along with related pipeline infrastructure connecting to an EnCana hub. Norex Energy will then plans to execute drilling, recompletion and pipeline strategy to prove up over 8 billion cubic feet of Natural Gas. The Asset includes:
One Natural Gas Processing Plant built in 2004. Processes sour gas by non regenerative solution, sweet gas compression, metering, and water storage. Five Natural Gas Pipelines Six inch pipeline connects to EnCana trunk line and extends towards a three well tie-in. Eighteen Sections of land or approximately 11,500 acres containing recoverable reserves in excess of 8 billion cubic feet. Three-well farm-in with a Canadian major to bring on-line approximately 2000 Mcf/day of Natural Gas. An Opportunity to earn up to a 75% Net Revenue Interest in the wells before payback and a 50% net revenue interest after payback. One of these wells is planned for tie-in during the first phase of project development.
Posted by MoneyHoney on :
Location: Sacramento County, CA Analog Fields Merritt Island (5.6 BCF), Snodgrass Slough (4.6 BCF) Land Holdings 668 gross acres under lease Interest 50% Working Interest Formation: Upper Cretaceous, Winters Depth of Test: 8,300 ft. Depth of Target Interval: 7,900+/- ft. Recoverable Reserves: 8 BCF Gross Pay Interval: 20 ft. Drainage Area: 400+ acres BTU Value: 930 BTU Recovery Factor: 1,000 Mcf / Ac ft Projected Initial Production Rate: 5,000 Mcf / day Pipeline Access / Connection Point ¼ mile to meter station
Norex Energy has acquired a 50% working interest in the Randall Island Prospect which is located approximately 20 miles south of the city of Sacramento along the Upper Cretaceous Winters "Eastside Stratigraphic Trend" of the southern Sacramento Valley.
Winters sandstones are one of the most prolific gas reservoirs in the Sacramento Valley, accounting for over 400 Bcf of gas produced to date along this trend. Winters sands are deep-water sands with gas fields and pools stratigraphically trapped along their eastern depositional edge. The traps are primary stratigraphic traps formed either by channels shaling out up dip into coeval slope shales or by sands shaling out up dip over structural noses. Many of the structural noses are compaction anticlines formed by drape over deeper thick Winters channels.
Detailed mapping of individual Winters sands indicate that many sands trend westerly into the basin perpendicular to depositional strike and compaction anticlines are present over many of the thicker sands. As an example, the Snodgrass Slough gas field is trapped gas caused by the shale out of Winters "Upper Clarksburg" sands across the southwest plunging of an anticlinal nose. The nose was formed by the rapid lateral shale out of the deeper "Main" Winters sand. Over 4.6 Bcf of gas was produced from this ~200-acre closure.
The Randall Island Prospect is located approximately two miles northwest of production at Snodgrass Slough. The trap is very similar to that at Snodgrass Slough. The same "Upper Clarksburg" sands that are the reservoirs at Snodgrass Slough form another potential stratigraphic trap when they intersect another southwest plunging nose. This nose is formed by a third thick Winters sand channel, the "Wurster" sand, which stratigraphically lies between the "Main" Winters and the "Upper Clarksburg" sands.
Critical control wells are the VERN JONES "Jonson" # 1 and #2 wells, located about 3000 feet apart in the western half of the Section. Seventy feet of "Upper Clarksburg" sand is present in the Jonson #2 well and is absent up dip in the Jonson #1 well. To the west of these wells, a broad southwest-plunging anticlinal nosing is present, formed by the thick underlying "Wurster" channel. A potential 400 acre stratigraphic closure is present where the shale out of the "Upper Clarksburg" sand intersects the nose. Based on the potential 400-acre closure, an average of 20 feet of pay and a recovery factor of 1000 Mcf/ac-ft., recoverable reserves are estimated at 8.0 Bcf of gas. This compares favorably with the 4.6 Bcf of gas produced from the ~200-acre closure at Snodgrass Slough.
Mapping also indicates shallower Winters sands, the "Jonson" sands, may be prospective at Randall Island in a stratigraphic closure similar to that mapped for the "Upper Clarksburg" sands. Additionally, a small NNW-SSE trending normal fault may enhance trapping in the Prospect. This east-dipping fault trapped minor "Main" Winters gas two miles north of the Prospect at the Merritt Island gas field in a small structural closure. Displacement on this fault is estimated at -25 feet.
Norex Energy plans to participate with the operator in the drilling of an 8,300 foot well required to test the Prospect through all prospective Winters sandstones.
Posted by Jacob14 on :
Wow this is big stuff here!!!
Norex Energy recently announced that the Company will acquire petroleum related assets in Alberta, Canada that include a 49% interest in a natural gas processing and compression facility; natural gas pipeline, additional infrastructure and certain lands associated to the infrastructure. This project has been found to have the potential to contain over 8 BCF of natural gas. The Company also has the option to obtain the remaining 51% interest from the owner over a 2 year period.
The most significant component to the acquisition and overall project development will entail the gas processing plant which was originally constructed in 2004. The plant is capable of processing sour gas by a regenerative solution, as well as sweet gas compression, gas metering and water storage. The facility is a strategic key element to the downstream production of gas from the pipeline.
Norex also acquires a network of 5, six-inch natural gas pipelines that connect to a major trunk line operated by Encana and that extend out towards three gas wells ready for tie-in. The final permitting application process and licensing of the plant will be completed shortly, allowing Norex to put the project on line and to commence production. Further details will be announced as they become available.
Posted by Jacob14 on :
Mark Schaftlein | President & C.E.O. Mr. Schaftlein has been in the consulting and financial services business for the past 20 years. Since July 2000, Mr. Schaftlein has been the Chief Executive Officer of Capital Consulting Inc., a financial consulting and advisory firm and a Consultant with Ocean Avenue Advisors, LLC and IW Miller Group Inc. He served as President and Chief Executive Officer of Westmark Group Holdings Inc., from May 1997 until 2000. Through Ocean Avenue Advisors LLC, Mr. Schaftlein further provided consulting services to Ortec International. He served as Chief Financial Officer of Far East Energy Corp., since November 10, 2003. Prior to starting Capital Consulting Inc., and joining Ocean Avenue Advisors, LLC Mr. Schaftlein spent 18 years in financial services and mortgage banking with Citigroup as well as serving in various executive management positions with various publically traded companies. Mr. Schaftlein is a graduate of Western Kentucky University with a Degree in Business Administration in 1980.
David Naylor | Director, Chief Financial Officer David Naylor is a financial management professional with extensive accounting expertise and a highly analytical ability to improve management practices. His career includes eleven years leading a large media publishing company through a period of change. Subsequently, he has held the position of CFO and/or Secretary Treasurer for varied natural resource juniors as well as technology sector companies. Mr. Naylor is a Certified Management Accountant (CMA) with over twenty years of experience
Posted by MoneyHoney on :
We believe that natural gas could well prove to be the energy source of choice for the new U.S. administration's energy policies as identified and supported by renowned energy developer T. Boone Pickens who states in his well-publicized "Pickens Plan" that natural gas is a cheap new replacement for foreign oil. Natural gas is our country's second largest energy resource and a vital component of our energy supply. 98% of the natural gas used in the United States is from North America. But 70% of US oil is purchased from foreign nations. Natural gas is one of the cleanest, safest and most useful forms of energy -- residentially, commercially and industrially. The natural gas industry has existed in the United States for over 100 years and continues to grow. Domestic natural gas reserves are twice that of petroleum. And new discoveries of natural gas and ongoing development of renewable biogas are continually adding to existing reserves. While it is a cheap effective and versatile fuel, less than 1% of natural gas is currently used for transportation
Posted by Jacob14 on :
Northern Explorations Details Interest in Ozona Project, West Texas Natural Gas Play
SCOTTSDALE, AZ--(MARKET WIRE)--Jun 1, 2009 -- Northern Explorations Ltd. (OTC BB:NXPN.OB - News) ("Northern," "Norex" or the "Company") is pleased to announce further details of the agreement on the "Ozona Gas Project," to be executed with Swiss-based resource management corporation Dominus Energy AG.Norex is negotiating a 63% Working Interest in the project located near Ozona in Crockett County, Texas. Under the terms of the underlying agreement with the vendors, Norex will receive a 47.5% Net Revenue Interest in all natural gas production from the project.
The project encompasses 9,000 acres and is a well documented and prolific location enjoying the presence of actively established companies such as Chesapeake, Devon, EOG, XTO, and Quicksilver Exploration. Norex and partners will further detail the program following completion of the requisite documentation which will involve the drilling, completion and tie-in of 20 natural gas wells.
Norex CFO David Naylor comments, "We are very pleased to negotiate such a considerable Net Revenue Interest in this outstanding gas play and will be moving forward quickly to becoming cash flow positive by rapid acceleration of field operations. We believe that Norex can meet the drilling schedule as proposed by the operator of up to 2 wells per month which should provide us the operational cash flow towards fully exploiting the prospect."
The Company is a reporting issuer which provides public disclosure under the securities and exchange act of 1934. Complete details of our agreements will be filed as required by law and made available to the public under the auspices of the Securities and Exchange Commission (SEC).
Posted by MoneyHoney on :
3.9 million and volume and appears to be holding gains
Posted by MoneyHoney on :
Looks like she wants to close strong.
Posted by MoneyHoney on :
Northern Explorations Executes Acquisition of West Texas Natural Gas Play On Monday June 1, 2009, 5:19 pm EDT Related:Northern Explorations Ltd. SCOTTSDALE, AZ--(MARKET WIRE)--Jun 1, 2009 -- Northern Explorations Ltd. (OTC BB:NXPN.OB - News) ("Northern," "Norex" or the "Company") is pleased to announce that the Company has now completed the execution of a definitive agreement in regards to the "Ozona Gas Project" with Swiss-based resource management corporation Dominus Energy AG.
Under the terms of the agreement, Norex has acquired a 63% Working Interest in the project located near Ozona in Crockett County, Texas. The agreement is based on future commitments whereby Norex will pay 100% of the cost of drilling and completion of the gas wells in exchange for their 63% Working Interest. Under the terms of the underlying agreement with the vendors and royalty holders, Norex will receive a 47.5% Net Revenue Interest in all natural gas production from the project.
This news is a welcome announcement given that the commodities markets have responded as world stock markets rallied and investors banked on hopes that the global recession is easing. Norex believes that the prices for natural gas will continue to increase as the economy continues to show signs of recovery.
The Ozona project encompasses 9,000 acres and is a well documented and prolific location enjoying the presence of actively established companies such as Chesapeake, Devon, EOG, XTO, and Quicksilver Exploration. Norex and partners will further detail the program following completion of the requisite documentation which will involve the drilling, completion and tie-in of 20 natural gas wells.
The Company is a reporting issuer which provides public disclosure under the securities and exchange act of 1934. Complete details of our agreements will be filed publicly where subject to and as required by law under the auspices of the Securities and Exchange Commission (SEC).
ABOUT NOREX ENERGY (NORTHERN EXPLORATIONS LTD.) (OTC BB:NXPN.OB - News)
Norex Energy (Northern Explorations Ltd.) is an energy exploration Company currently developing natural gas projects across North America. The Company has acquired a majority working interest in natural gas assets located in California and Alberta, Canada which have the combined potential to contain 16 BCF gas along with associated plant, pipeline and infrastructure.
Posted by Jacob14 on :
Wow more news this thing is gonna fly right out of control...
Posted by MoneyHoney on :
premarket action
Posted by Love the Market on :
This P&D crashed FASTER than GM .30 to .18 in 28 min. on under 500,000 shares. I wonder if that's a record for a penny that was touted in 4 or 5 "Newsletters"? I knew I should have gotten out yesterday - I just need to leaarn how to play the game and stick to the rules. Making $200 would have been better than losing $600
Posted by Love the Market on :
Come on "Newsletters" - Pump this pig back to .30
Posted by Love the Market on :
MORE "News". May this sucker rise 50% tomorrow! HAHA - Hey -this was pumped and dumped like a sub-penny. I was surprised. Even NXG tanked from $2.42 to $2.12 today. I got back into that one at $2.15 You never know with these stocks.
Posted by Love the Market on :
Thanks NOREX - Keep pumping this pig so I can get back to even. Imagine dropping from .30 to .18 in less than 30 min? You'd think it was a sub-penny.
Here's hope for tomorrow:
Northern Explorations Acquires First Production Gas Well at Ozona Project, West Texas
SCOTTSDALE, AZ -- (MARKET WIRE) -- 06/03/09 -- Northern Explorations Ltd. (OTCBB: NXPN) ("Northern," "Norex" or the "Company") is pleased to announce that the Company has acquired its first gas well at the Ozona gas project, Crockett County, Texas as part of its acquisition agreement with Dominus Energy AG .
The gas well is included as part of the package acquired at the Ozona Project by the Company and provides Norex with a current producing asset with daily gas production sales. Northern Explorations d.b.a. Norex Energy is therefore in production at Ozona.
The natural gas well was drilled, cased, completed and stimulated in the Wolfcamp Canyon Sandstone Formation. Upon tie-in to the pipeline infrastructure, the well has been producing gas since May of 2009 at daily rates of 200 MCF per day.
Estimates of gas reserves associated with this well are approximately 0.5 BCF. The gas is sold under a purchase agreement with Eagle Rock Energy and is currently priced at a bid-week production price of $4.04 per MCF.
This initial well is the first of 20 wells that will be drilled and completed on the leased acreage. Further details will be announced to stakeholders regarding the timing of the on-going development plan at the Ozona Project .
Norex President Mark Schaftlein states, "The inclusion of the production well in the purchase package acquired by Norex is a huge boost as it immediately transforms us into a cash flow positive position. We have effectively sidestepped the time line that normally occurs during the development of a first well of a program. Having acquired immediate gas production is a large step forward for the Company."
About the Ozona Gas Project :
The project encompasses approximately 9,000 acres and is a well documented and prolific location enjoying the presence of actively established companies such as Chesapeake, Devon, EOG, XTO, and Quicksilver Exploration. Norex is currently producing gas at Ozona. Norex has acquired a 63% Working Interest in the project located near Ozona in Crockett County, Texas. Under the terms of the underlying agreement with the vendors, Norex will receive a 47.5% Net Revenue Interest in all natural gas production from the project.
ABOUT NOREX ENERGY ( NORTHERN EXPLORATIONS LTD. ) (OTCBB: NXPN)
Norex Energy ( Northern Explorations Ltd. ) is an energy exploration Company currently developing natural gas projects across North America. The Company has acquired working interests in natural gas assets located in Texas as well as projects in California and Alberta, Canada. The projects contain documented gas reserves and associated plant, pipeline and infrastructure currently in place.
Notice Regarding Forward-Looking Statements
This news release contains "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. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. 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 petroleum exploration and development stage exploration companies. 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 annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission .
ON BEHALF OF THE BOARD Norex Energy ( Northern Explorations Ltd. )
Mark Schaftlein President, CEO
To find out more about Norex Energy or Northern Explorations Ltd. (OTCBB: NXPN), visit our website at www.norexenergyinc.com .
Add to Digg Bookmark with del.icio.us Add to Newsvine
Information: 1-(866) 570-9822
Northern Explorations Ltd.
Posted by Luvthatmoney on :
this one looking like its bottoming out and about to turn here
Posted by Luvthatmoney on :
Northern Explorations Announces Strategic Plans for Wind Energy Opportunity
Let's hope so - Good Luck!
Posted by Luvthatmoney on :
The Company has been informed by the operator that they are now in receipt of the required environmental permits from both the Province and local regulatory authorities thereby allowing for the commencement of pipeline construction.
On January 14th, Norex announced that the Company will acquire petroleum related assets in Alberta, Canada that include a 49% interest in a natural gas processing and compression facility; natural gas pipeline, additional infrastructure and certain lands associated to the infrastructure. This project has been found to have the potential to contain over 8 BCF of natural gas. The Company also has the option to obtain the remaining 51% interest from the owner over a 2 year period
Posted by Luvthatmoney on :
short term looks like an easy double here, long term could mean dollars for some, i'm liking what i see here
Posted by Lockman on :
Chart looks like it declining, you have news or rumor?
Posted by Love the Market on :
Not moving at all on news..... Everybody's probably watching Eddie Bauer take their money..
Posted by Luvthatmoney on :
closing strong here, looks like a good one
Posted by Luvthatmoney on :
i see a lot of potential here long term, may have to throw some major cash in here
Posted by Luvthatmoney on :
nice little gapper here this morning, looking good
Posted by Luvthatmoney on :
.19x.195 1x1
Posted by Luvthatmoney on :
certainly setting up for at least a double
Posted by Luvthatmoney on :
nice volume yesterday, looking for even more today
Posted by Average Joe on :
Getting a boost from several paid IR / PR firms. O T C R E P O R T E R . C O M " Morning Stock ALERTS " have been hot lately. Could move this morning .... imho
Posted by Luvthatmoney on :
.195 hit premarket, gona be a great day today guys
Posted by Luvthatmoney on :
.20x.22 1x1
Posted by Luvthatmoney on :
+30% nice open here!
Posted by Luvthatmoney on :
1 left at .225!
Posted by Luvthatmoney on :
350k volume in 5 minutes wow!
Posted by Luvthatmoney on :
today we're going to have a nice and big candle for the chart
Posted by Luvthatmoney on :
750k now, monster volume
Posted by Luvthatmoney on :
1 million volume in 20 minutes amazing
Posted by Luvthatmoney on :
looks like mms are desperately trying to fill the gap it seems, its taking them forever which shows the true strength here
Posted by Luvthatmoney on :
.205 back up, trading beautifully today
Posted by Luvthatmoney on :
.21s up now and getting hit good
Posted by Luvthatmoney on :
1 .21 left here, moving back up
Posted by Luvthatmoney on :
.22s up now, new high almost here
Posted by Luvthatmoney on :
.23s up new hod here!
Posted by Luvthatmoney on :
NXPN 2 .23s left then .25!
Posted by Luvthatmoney on :
NXPN .24s up 1 there
Posted by Luvthatmoney on :
NXPN .24s gone
Posted by Luvthatmoney on :
NXPN +45%
Posted by Luvthatmoney on :
NXPN super thin after .25s
Posted by PeterSLynch on :
NXPN now +35.29% -- on fire!!!
Posted by Luvthatmoney on :
NXPN .22x.239 2x1
Posted by Luvthatmoney on :
NXPN going to have a strong afternoon today
Posted by Luvthatmoney on :
NXPN 3 million volume so far today amazing
Posted by Luvthatmoney on :
NXPN has moved nicely back within the bollies here on 15 minute, looks like its ready to run some more, no longer overbought
Posted by Luvthatmoney on :
NXPN looking to be a monster all
Posted by Luvthatmoney on :
this time around to the mid .30s we might actually bust out of that range into blue sky territory
Posted by Luvthatmoney on :
.22x.234 2x2
Posted by Luvthatmoney on :
NXPN had awesome news today guys:
Northern Explorations Anticipates Natural Gas Opportunities in Upcoming Months Northern Explorations Anticipates Natural Gas Opportunities in Upcoming Months SCOTTSDALE, AZ -- (Marketwire) -- 06/10/09 -- Northern Explorations Ltd. (OTCBB: NXPN) ("Northern," "Norex" or the "Company") wishes to advise that recent reports in the media as regards natural gas futures indicate potential trends and factors that could lead to significant opportunities within the sector. A story published by Bloomberg recently identified that some analysts have reported that the fundamental picture is putting a short-term cap on gas at $4 with expectations of an inventory increase of at least 100 billion cubic feet. Several analysts also indicated a need to see real evidence that storage injections are being curtailed in order to see a return in demand that would justify predicting a sustained rally. These same analysts need look no further than our current national production figures. A key factor that supports the cutback of reserves is the widely stated government reports showing U.S. natural gas production to drop 1.1 percent to 57.93 billion cubic feet a day this year from 2008 production as lower prices prompt drillers to idle rigs. This production estimate is down from an estimate of 57.98 billion in the May Energy Department's monthly Short-Term Energy Outlook.
This reduced exploration will accelerate the decline in output into 2010 with production forecast to fall 2.6 percent next year to 56.42 billion cubic feet a day as the report from the department's Energy Information Administration recently showed. Furthermore, the number of rigs drilling for natural gas has dropped 56 percent from a peak of 1,606 in September and is at its lowest in more than six years, according to data from Baker Hughes Inc. Companies have cut back on gas exploration and production as the worst recession in five decades reduced demand from factories and power plants. Norex Energy's Management believes that this combination of reduced exploration and production should inevitably end in a dramatic upswing in prices. The start of this resurgence could well be fueled early as temperatures climb during the summer months leading to increased energy demand, especially in those states such as California that rely heavily on natural gas powered electrical generation systems. Another key natural element is the ever-present possibility of large storms, tornadoes or hurricanes adding increased demands as we head towards the end of the summer and into early fall. A combination of hot summer months, turbulent fall weather, limited exploration and lowered overall natural gas production could lead to a significant demand increase and resultant price spike within a very short period of time. Management has predicated its extremely conservative business model on realistic near-term natural gas pricing at well under the currently predicted short term cap. The Company is gratified to see the current gradual increases, but believes strongly that great promise and opportunity for Norex and the sector as a whole is a foreseeable eventuality. ABOUT NOREX ENERGY (NORTHERN EXPLORATIONS LTD.) (OTCBB: NXPN) Norex Energy (Northern Explorations Ltd.) is an energy exploration Company currently developing natural gas projects across North America. The Company has acquired working interests in natural gas assets located in Texas as well as projects in California and Alberta, Canada. The projects contain documented gas reserves and associated plant, pipeline and infrastructure currently in place. Notice Regarding Forward-Looking Statements This news release contains "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. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. 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 petroleum exploration and development stage exploration companies. 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 annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission. Per: Norex Energy (Northern Explorations Ltd.) To find out more about Norex Energy or Northern Explorations Ltd. (OTCBB: NXPN), visit our website at www.norexenergyinc.com. Add to Digg Bookmark with del.icio.us Add to Newsvine
Source: Marketwire (Jun 10, 2009 06:00:11 EDT) News by QuoteMedia www.quotemedia.com Posted by Luvthatmoney on :
Norex President Mark Schaftlein states, "The inclusion of the production well in the purchase package acquired by Norex is a huge boost as it immediately transforms us into a cash flow positive position. We have effectively sidestepped the time line that normally occurs during the development of a first well of a program. Having acquired immediate gas production is a large step forward for the Company."
very nice
Posted by Luvthatmoney on :
"Norex is working with an industry group that brings a reliable history in the wind energy sector as regards the management of operations and logistics as well as access to state and federal government contacts and procedures. Norex's strategic plan is focused on the rapid development of an effectively managed and convergent "green energy" company offering an aligned portfolio of both natural gas and wind power assets.
The wind corridor runs from northern Texas through Wyoming to the Canadian border. The Texas panhandle is one of the premier wind energy corridors in the United States due to the low lying topography, constant wind velocity and favorable access to transmission infrastructure. Texas has consolidated its lead over California as the nation's number one wind power State based on installed capacity. In total, Texas wind farms now generate more than 4,300 Megawatts of wind power providing enough energy to serve 1.5 million homes. An extensive Department of Energy study in 2007 said that building wind-based electrical generation capacity in the corridor could provide up to 20 percent of the U.S. power needs and create a potential for 138,000 new jobs in the first year with up to 3.4 million jobs over a 10-year span as the industry matures. As an added incentive, the recent American Recovery and Reinvestment Act of 2009 signed into law by President Obama, offers extensive provisions for wind power via government incentives and tax breaks for renewable energy companies which include a 3-year Production Tax Credit (PTC) extension through the end of 2012, an option to elect a 30% Investment Tax Credit (ITC) in place of the PTC and a new $6 billion Department of Energy renewable energy and transmission loan guarantee program, which should fund around $60 billion in principal amount of guaranteed loans. Additionally, the Western Area Power Administration was granted the authority to borrow up to $3.25 billion from the Treasury to build renewable transmission lines in the western United States, including western Texas."
Posted by Luvthatmoney on :
"Company President Mark Schaftlein states, "With the resurgence of confidence in environmentally responsible energy production becoming increasingly backed by significantly renewed access to funding and other incentives, we feel that Norex Energy has a unique opportunity before it. Therefore, we are moving quickly to ramp up our asset acquisition program and to position ourselves in an accelerated development program. The near future should bring additional strategic information that the Company will announce as soon as the facts become available.""
Posted by Luvthatmoney on :
NXPN O/S under 100 million i hear, nice to know
Posted by Love the Market on :
Hope you're right - I bought in last week at .30
Posted by Luvthatmoney on :
.235x.245 1x1
Posted by Luvthatmoney on :
nice close yesterday guys looking for newer highs today as we see how high this can go, it should at least make it to mid .30s before it starts consolidating imo, but it could go higher
Posted by Luvthatmoney on :
sweet, insiders own most of the company, means they actually care about the share price/shareholders then
Posted by Luvthatmoney on :
.25s up!
Posted by Luvthatmoney on :
.24x.244 2x1
Posted by Luvthatmoney on :
tiny dip here, then back up
Posted by Luvthatmoney on :
.22x.23 1x2
Posted by Luvthatmoney on :
after this dip, we bust .25 easy imo
Posted by Luvthatmoney on :
.215x.23 1x2 now
Posted by Luvthatmoney on :
.22x.225 1x1
Posted by Luvthatmoney on :
.21x.215 1x2
Posted by Luvthatmoney on :
williams%R showing this oversold on 15 minute as well as trading below lower bollie, should move up shortly
Posted by Luvthatmoney on :
.20x.21 4x2
Posted by Luvthatmoney on :
nice chance to grab some cheapies here guys, shouldn't be available for long here imo
Posted by Luvthatmoney on :
.195x.205 2x1
Posted by Luvthatmoney on :
mms trying to fill the gap again here
Posted by Luvthatmoney on :
.19x.20 1x1
Posted by Luvthatmoney on :
.19x.20 2x1 now, about to move back up here
Posted by Luvthatmoney on :
nice consolidation here today guys, was needed after that nice pop yesterday
Posted by Luvthatmoney on :
now i can see us consolidating intraday here but moving back up into the close, that would certainly show how strong this one is
Posted by Luvthatmoney on :
strong accumulation going on around .19/.20, it is our new base imio
Posted by Luvthatmoney on :
SCOTTSDALE, AZ, Jun 11, 2009 (MARKETWIRE via COMTEX) -- Northern Explorations Ltd. (NXPN) ("Northern," "Norex" or the "Company") is pleased to announce the appointment of Stephen Mohan, Alan Lomax and Darrin Holman to the Board of Directors.
Mr. Mohan brings an extensive background in the area of business development with a primary focus on the subject of Strategic Growth. During his tenure as Vice President for Business Development at Frost & Sullivan, Stephen raised the bar on industry performance, achieving record revenue and profit margins through the development of calculated efforts that led to a notably successful 22% increase during the very first year of program implementation. Mr. Mohan holds a degree in communications from Bridgewater State College, Massachusetts.
Mr. Lomax is a highly experienced financial consultant specializing in organizational matters such as regulatory compliance and corporate structure. He graduated from the University of Texas with an economics degree along with a period of additional studies conducted abroad while living in Spain. He brings extensive experience in the area of LBOs, MBOs and derivative actions involving public companies. Recently, Alan spearheaded the cleanup and restructuring of over 30 public companies in order to preserve and initiate growth in shareholder value.
Mr. Holman has an extensive background in the development of alternative energy projects, specializing in the wind and cogeneration sectors. He is an accomplished project planner and manager with real world experience in the development of large scale construction projects including megawatt class wind farms. With his involvement, Norex is able to accurately assess the viability of future opportunities in the alternative energy sector towards a growing commitment to an innovative clean energy portfolio.
Company President & CEO Mark Schaftlein comments, "These appointments build dramatically upon our existing strengths and bolster our abilities in many ways. This new advisory level of compliance oversight ensures the Company will grow wisely and with proper diligence. These gentlemen bring years of specialized information and relationships with key industry individuals along with access to insights that will assist us greatly as we grow our Clean Energy portfolio. With these additions to the Board we have taken an outstanding step forward in our ability to quickly realize and execute our strategic aims."
The Company is a reporting issuer providing public disclosure as required by the securities and exchange act of 1934. Complete details of these appointments will be filed publicly where subject to and as required by law under the regulations of the Securities and Exchange Commission (SEC).
ABOUT NOREX ENERGY (NORTHERN EXPLORATIONS LTD.) (NXPN)
Norex Energy (Northern Explorations Ltd.) is an energy exploration Company currently developing natural gas projects across North America. The Company has acquired working interests in natural gas assets located in Texas as well as projects in California and Alberta, Canada. The projects contain documented gas reserves and associated plant, pipeline and infrastructure currently in place.
Notice Regarding Forward-Looking Statements
This news release contains "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. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. 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 petroleum exploration and development stage exploration companies. 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 annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD Norex Energy (Northern Explorations Ltd.) - - - - - - - - - - - - - - - - - - Mark Schaftlein President, CEO
To find out more about Norex Energy or Northern Explorations Ltd. (NXPN), visit our website at http://www.norexenergyinc.com.
Copyright 2009 Marketwire, All rights reserved.
Posted by Luvthatmoney on :
nice news here, great experience coming to NXPN
Posted by Luvthatmoney on :
nice lower volume than yesterday, always good to have lower volume on a red day, this one is trading pretty textbook imo
Posted by Luvthatmoney on :
natural gas is a great thing to be in in this day and age, should bode well for NXPN
Posted by Luvthatmoney on :
NXPN .18x.19 4x3
Posted by Luvthatmoney on :
.18x.19 4x2 now
Posted by Luvthatmoney on :
L2 thin to .22 from here
Posted by Luvthatmoney on :
NXPN .185x.19 1x1 now
Posted by Luvthatmoney on :
NXPN going to see a double from here by next week imo
Posted by Luvthatmoney on :
NXPN, nice buying at .19 now, ut soon imo and we move back over .20 in the afternoon
Posted by Luvthatmoney on :
going to close good this afternoon imo
Posted by Luvthatmoney on :
i'm thinking we have a strong eow close tomorrow in the .20s, possibly test .30
Posted by Luvthatmoney on :
i'm liking this play for next week as well, no telling how much higher this can go after mid .30s, looks like blue skies
Posted by Luvthatmoney on :
love the fact that its a BB here, always feel safer about a company being fully reporting
Posted by Luvthatmoney on :
transparency is key, and they seem to PR their progress frequently, which of course is another big + here
Posted by Luvthatmoney on :
.19x.20 1x1 now moving back up through lunch
Posted by Love the Market on :
Luv - with you posting the play-by-play I can get rid of L2 !!! :-)
Good Luck. I'm in this thing at .30
Posted by Luvthatmoney on :
nice gap fill here yesterday guys, and good recovery afterwards
Posted by Luvthatmoney on :
.19x.20 2x1
Posted by Luvthatmoney on :
looking for green today guys and a nice boost upward after that healthy consolidation day yesterday
Posted by Luvthatmoney on :
NXPN .195x.20 1x1
Posted by Luvthatmoney on :
1 at .20, 2 at .21, 2 at .22, 1 at .24, 1 at .27, 1 at .28, 1 at .29, 2 at .32, 1 at .34
Posted by Luvthatmoney on :
"Mr. Mohan brings an extensive background in the area of business development with a primary focus on the subject of Strategic Growth. During his tenure as Vice President for Business Development at Frost & Sullivan, Stephen raised the bar on industry performance, achieving record revenue and profit margins through the development of calculated efforts that led to a notably successful 22% increase during the very first year of program implementation. Mr. Mohan holds a degree in communications from Bridgewater State College, Massachusetts."
loving the new guys
Posted by Luvthatmoney on :
last sentence my favorite part here:
"Mr. Lomax is a highly experienced financial consultant specializing in organizational matters such as regulatory compliance and corporate structure. He graduated from the University of Texas with an economics degree along with a period of additional studies conducted abroad while living in Spain. He brings extensive experience in the area of LBOs, MBOs and derivative actions involving public companies. Recently, Alan spearheaded the cleanup and restructuring of over 30 public companies in order to preserve and initiate growth in shareholder value."
Posted by Luvthatmoney on :
"Mr. Holman has an extensive background in the development of alternative energy projects, specializing in the wind and cogeneration sectors. He is an accomplished project planner and manager with real world experience in the development of large scale construction projects including megawatt class wind farms. With his involvement, Norex is able to accurately assess the viability of future opportunities in the alternative energy sector towards a growing commitment to an innovative clean energy portfolio."
Posted by Luvthatmoney on :
won't take much pressure at all to get above .25 imo
Posted by Luvthatmoney on :
won't take much to go green here at all
Posted by Luvthatmoney on :
can already see that today will be a low volume day, typical after a major consolidation day, very textbook trading here
Posted by Luvthatmoney on :
chart is similar to what it was before the last 2 times we ran to mid .30s
Posted by Luvthatmoney on :
.19x.20 2x1 now
Posted by Luvthatmoney on :
great PRs coming in here, can't wait for the next one
Posted by Luvthatmoney on :
.19x.20 1x1
Posted by Luvthatmoney on :
probably get more news here next week, company seems very transparent, always a big +
Posted by Luvthatmoney on :
.19x.195 1x1 now
Posted by Luvthatmoney on :
.18x.195 2x1
Posted by Luvthatmoney on :
textbook low volume consolidation here today guys, as expected
Posted by Luvthatmoney on :
there's a run(wednesday), a consolidation day(yesterday), and then a low volume consolidation day(today), completely healthy
Posted by Luvthatmoney on :
the low volume consolidation simply means the last of the profit takers are getting weeded out before next leg up, which should start monday
Posted by Luvthatmoney on :
patience will definitely be rewarded here, next week we see our mid .30s imo
Posted by Luvthatmoney on :
.18x.19 2x1
Posted by Luvthatmoney on :
oh for sure, we'll probably get more news to act as our catalyst and the chart will be set up perfectly to move into the .30s when it comes
Posted by Luvthatmoney on :
good buy here, as we should be double this by next week
Posted by Luvthatmoney on :
trading great today guys, sticking to this tight range
Posted by Luvthatmoney on :
.18x.185 now
Posted by Luvthatmoney on :
NXPN .17x.179
Posted by Luvthatmoney on :
Management has predicated its extremely conservative business model on realistic near-term natural gas pricing at well under the currently predicted short term cap. The Company is gratified to see the current gradual increases, but believes strongly that great promise and opportunity for Norex and the sector as a whole is a foreseeable eventuality.
Posted by Luvthatmoney on :
NXPN going big next week, perfect opp today
Posted by Luvthatmoney on :
NXPN .17x.175
Posted by Luvthatmoney on :
NXPN combo of lunchtime and eow sellers here along with our regular consolidation, next week should be great roi from current level
Posted by Luvthatmoney on :
As the gas is sold under a purchase agreement with Eagle Rock Energy and is currently priced at a bid-week production price of $4.04 per MCF, the Company is confident that the value of gas in place if entirely commercially viable could exceed $40 million at today's prices.
Posted by Luvthatmoney on :
Norex President Mark Schaftlein states, "This information provides us with real impetus as we proceed in our strategic planning. Our acquisition selection process is currently well underway and this project is considered highly favorable for further exploitation. We are very pleased to find ourselves with such a fine collection of high quality projects at such an early stage. We aim to move quickly yet prudently in order to fully capitalize our position."
Posted by Luvthatmoney on :
NXPN wants to stay low volume today to make the chart look perfect, setting up for next week perfect time to get in imo
Posted by Luvthatmoney on :
good consolidation here again on friday, looking good to break .30s this week
Posted by Luvthatmoney on :
gaping .175x.21 1x2
Posted by Luvthatmoney on :
chart has consolidated, ready to bust upper bollie again
Posted by Luvthatmoney on :
2 at .21, 1 at .22, 1 at .23, 1 at .27, 1 at .28, 1 at .29, 2 at .32, thin to .30 break here
Posted by Luvthatmoney on :
.161 1 on bid there now then stacked .16s
Posted by Luvthatmoney on :
.17x.18 1x1 now
Posted by Luvthatmoney on :
very good week coming here imo
Posted by Luvthatmoney on :
bid building now 2 there
Posted by Luvthatmoney on :
nice low volume again today, always expected after a consolidation period
Posted by Luvthatmoney on :
calm before the storm here imo
Posted by Luvthatmoney on :
extremely low volume here, seems we shouldn't go any lower imo
Posted by Luvthatmoney on :
good ask hit and green here, shouldn't take much to get back in the .20s
Posted by Luvthatmoney on :
bollies tightening and parabolic sar and macd bullish on 15 minute, nice
Posted by Luvthatmoney on :
2 at .161 now and .18 on ask
Posted by Luvthatmoney on :
.165 on ask, grab em while there cheap
Posted by Luvthatmoney on :
back to .18, didn't last long there lol, people know what they're buying
Posted by Luvthatmoney on :
.162x.17 1x1 now
Posted by Luvthatmoney on :
Company President & CEO Mark Schaftlein comments, "These appointments build dramatically upon our existing strengths and bolster our abilities in many ways. This new advisory level of compliance oversight ensures the Company will grow wisely and with proper diligence. These gentlemen bring years of specialized information and relationships with key industry individuals along with access to insights that will assist us greatly as we grow our Clean Energy portfolio. With these additions to the Board we have taken an outstanding step forward in our ability to quickly realize and execute our strategic aims."
Posted by Luvthatmoney on :
bid side looking sweet, 1 at .161, 5 at .16, 2 at .15, 1 at .13, 1 at .11, 1 at .10, always nice to have a lot of support here
Posted by Luvthatmoney on :
going back and forth today on low volume, very tight today
Posted by Luvthatmoney on :
love natural gas plays, the wave of the future imo
Posted by Luvthatmoney on :
back to even here, trading like a pro today
Posted by Luvthatmoney on :
not too often you find a great F/A and T/A play all in one huh guys, nice find here
Posted by Luvthatmoney on :
like the fact that this is a BB, always a reassuring fact when playing pennies, removes any doubt of this company imo
Posted by Luvthatmoney on :
2 at .17 now, shouldn't take much to take em down though
Posted by Luvthatmoney on :
NXPN .161x.17 1x2 now
Posted by Luvthatmoney on :
NXPN .16x.17 3x2 now
Posted by Luvthatmoney on :
NXPN .16x.17 1x2 lousy bidwhacker
Posted by Luvthatmoney on :
NXPN taking a tiny dip here
Posted by Luvthatmoney on :
NXPN looking a little oversold at .16, back to .17 now
Posted by Luvthatmoney on :
NXPN at least double from here within a week or so imo
Posted by Luvthatmoney on :
NXPN .16x.165 1x1
Posted by Love the Market on :
Piece of crap - I'm down 60% from .30 buy. Even with all the damn pumping they did.....