Norris Industries, Inc. (OTCPK: NRIS) will look for acquisitions. Norris said, “The Company will continue working with limited number of capital partners to identify acquisitions that can increase our reserves of oil and gas concessions and production. Our near term goal for current year is to seek selected opportunities to increase our production to a sustainable, cash-flow breakeven, Also, given the current dynamics of the oil and gas industry, we may also consider strategic acquisitions in the oil-field service sectors.”
Norris Industries, Inc. is an exploration and production oil and natural gas company. The Company focuses on the development, production, and maintenance of its crude oil and natural gas properties in Texas. Its principal operating properties are in the Ellenberger formation in Coleman County, and in Jack County and Palo-Pinto County Texas. It also focuses on developing additional exploration and acquisition projects located within the Bend Arch-Fort Worth Basin and other prime acquisition targets in Central West, South and East Texas. It also focuses on other acquisition opportunities in the Permian Basin, West Texas, East Texas, and South Texas regions. It has about 20 gross oil and gas wells in the Jack County and Palo-Pinto County Stuart oil leases. Its 1A Venture property has four gross oil and gas wells. Its 1B Venture property has six gross oil and gas wells. Its Marshall Walden property has six gross oil and gas wells. Its production operations are in the state of Texas.