Additional Chisholm Trail Well Spud

RNS Number : 0994V

Nostra Terra Oil & Gas Company PLC

23 October 2014

 

AIM: NTOG

23 October 2014

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

Additional Chisholm Trail Well Spud

Nostra Terra (AIM:NTOG), the oil and gas exploration and production company with a growing portfolio of assets in the USA, is pleased to announce the spudding of the 18^th development well in which it has an interest in the Chisholm Trail Prospect, located in Oklahoma.

The Bollenbach 1-33H well (CT-16) has spudded and is drilling forward.  The well will be drilled to an approximate 11,700 foot measured depth, at a true vertical depth ("TVD") of 7,180 feet, with a 4,200 foot lateral into the Hunton formation.  Nostra Terra owns a 20.0% WI in the well (subject to minor potential adjustment) which is operated by Stephens Production Company.  The total well cost is estimated at $4,154,000 ($830,800 net cost to Nostra Terra).

Matt Lofgran, Chief Executive Officer of Nostra Terra, commented:

"Chisholm Trail has been a great prospect and we're excited to see this well already drilling ahead.  Our working interest in this well, along with the CT14 (also 20% working interest) which will be reworked in coming weeks, could have a significant impact on our production.

"We're already cash flow positive, hence any additional production and revenue will have a positive impact on our plans going forward."

For further information, visit www.ntog.co.uk or contact:

Nostra Terra Oil and Gas Company plc

Matt Lofgran, CEO

[e-mail]                                         Telephone: [phone]

Northland Capital Partners Ltd

(Nominated Adviser) 

Matthew Johnson / Lauren Kettle                         Telephone: [phone] 

Hume Capital Securities plc (Broker)                             

Jon Belliss / Abigail Wayne                                Telephone: [phone] 

Lothbury Financial Services Limited

Gary Middleton / Michael Padley                         Telephone: [phone]

 

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