{"id":1147,"date":"2013-04-05T11:11:28","date_gmt":"2013-04-05T11:11:28","guid":{"rendered":"\/?p=1147"},"modified":"2013-04-05T11:18:25","modified_gmt":"2013-04-05T11:18:25","slug":"pumpers-cut-the-cord-for-nostra-energy-inc-otcnorx","status":"publish","type":"post","link":"\/articles\/pumpers-cut-the-cord-for-nostra-energy-inc-otcnorx\/","title":{"rendered":"Pumpers Cut the Cord for Nostra Energy Inc. (OTC:NORX)"},"content":{"rendered":"

\"1NORX_chart.png\"Yesterday Nostra Energy Inc. (OTC:NORX<\/a>) dropped 10% on heavily faded volume. Promoters who touted the company have gone silent, with no new emails coming through yesterday. <\/p>\n

The pumping for NORX<\/a> started April 1 and it was definitely no joke, judging by the compensations promoters disclosed, reaching up to $100 thousand. Pumpers The Stock Scout and Penny Stock Circle who bagged $50 thousand sent their last alert for NORX<\/a> on Wednesday. Sensing that this one won’t run the way they had expected, the promoters came up with a half-hearted excuse, touting the supposed ‘stability’ of the pick and announcing a new one is coming soon. NORX<\/a> was anything but stable yesterday, dropping in double digits and logging a second red day, left without promotional support.<\/p>\n

We covered the pump when it started, but it’s worth repeating some of the more unsettling details about it. In mid-March NORX<\/a> signed a farmout agreement with Summit West Oil, LLC, which should transfer working interest in the property to NORX<\/a> once they fulfill certain provisions. The trouble with this otherwise lucrative-sounding plan is that NORX<\/a> may be facing an uphill battle.<\/p>\n

The company will need to finalize exploration studies and data processing for the property in question, then transfer $200 thousand to West Oil by the end of this month. This is to be followed by NORX<\/a> drilling one horizontal well by the end of 2013 and two more by the end of 2014, each well estimated to cost about $5 million to drill, whose completion would lead to the transfer of working interest.<\/p>\n

Sadly, NORX<\/a> doesn’t exactly seem able to deliver on those fronts, considering its financial situation as of its last report dated November 2012:<\/p>\n

$8 thousand in cash
zero revenues (company in exploration stage)
$20 thousand net loss<\/p>\n

\"9PMCM_fail.png\"The company did secure $100 thousand through a convertible note in February, which still leaves it several million short of drilling the first of three wells.<\/p>\n

The promotional effort for NORX<\/a> pushed it through two volatile days and the stock is now a little below its pre-promotional levels, despite the pumper promises for ‘stability’. It’s no wonder the pump didn’t hold out, considering the track record of promoter The Stock Scout. The same outfit participated in a short-lived pump fiasco for Primco Management, Inc. (OTC:PMCM<\/a>) in early February. PMCM<\/a>‘s chart speaks for itself.<\/p>\n

With NORX<\/a> thrown off-balance by the promotion, no new pump mails coming through and with a seemingly impossible undertaking before them, the company’s success is anything but certain.<\/p>\n","protected":false},"excerpt":{"rendered":"

Yesterday Nostra Energy Inc. (OTC:NORX) dropped 10% on heavily faded volume. Promoters who touted the company have gone silent, with no new emails coming through yesterday. The pumping for NORX started April 1 and...<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[560,104],"class_list":["post-1147","post","type-post","status-publish","format-standard","hentry","category-news","tag-norx","tag-pmcm"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/1147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=1147"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/1147\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=1147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=1147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=1147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}