A financial and operational update from Norse Energy Corp. for the second quarter of 2013. The report tells the dire situation the company finds itself in. They are currently in bankruptcy because New York State refuses to allow shale drilling. Norse owns a veritable gold mine in NY--130,000 acres of shale leases--that they can't use. They are being forced under bankruptcy to sell the leases, although no one is willing to pay good money for the leases with the ongoing uncertainty in NY state. This update states that the company may not be "a going concern" unless they get a good deal for their last remaining asset--the leases--or unless NY state allows drilling.