Norstra Energy, Inc. (OTCBB:NORX) Attempts Post-Dump Recovery

Some pumps prove resilient, especially when they are backed up by huge budgets reaching seven-digit numbers. Norstra Energy, Inc. (OTCBB:NORX) turned out to be one such pump that just won’t go away, despite the huge selloff that already took place.

The buzz around NORX started on April 1, when some relatively expensive but mostly inconsequential pumps tried to hype up the stock and caused a bit of movement. The action picked up speed when the pump campaign resumed, this time touting a landing page and website dedicated entirely to pumping NORX. The disclaimer currently put up on the website lists $3.6 million paid to advertise the stock and can be seen at norxreport dot com.

Mr. Eric Dany, the face used to add credibility to the hilarious pump claims that NORX will reach $25 per share and $5 per share in the short term, is also the same Eric Dany who previously pumped other disasters of tickers such as DIDG and VNDB.

NORX is still trying to make a splash with its press announcements, informing the public the company is about to start drilling its first well on the Bakken area property. As we explained many times before, NORX agreed to drill three horizontal wells with total estimated expenses of $15 million. How the company intends to get its hands on this sort of money, considering it should start drilling the first $5 million well next month, is not too clear.

We did a piece of video coverage on NORX before the pump, explaining some potential red flags about the company, including the forward split that increased the outstanding shares before active trading had begun, the selling of loads of shares to undisclosed parties at price far below the current and then getting a stock pump.

Meanwhile, Xumanii, Inc. (OTCMKTS:XUII) took another tumble in yesterday’s session, slumping 13% down to a close of $0.20 per share. Petrosonic Energy, Inc. (OTCMKTS:PSON) also crashed even harder, losing 22% of its share price.