Drilling Update

Nostra Terra Oil and Gas Company plc

                                 Drilling Update

29 January 2008

Nostra Terra Oil & Gas plc ("the Company"), is pleased to announce that the well
Oktyabrskoe  #24 has reached total depth of 1794 metres.  During  this  drilling
process both oil and gas were encountered as expected. The drilling crew reports
that the well circulated oil and gas to the mud tank at surface.  In total three
horizons  contributed hydrocarbons during this process; Horizon I, at perforated
interval 1717-1794 metres, Horizon III, at perforated interval 1562-1627  metres
and Horizon IV at perforated interval 1465-1485 metres.

The  Company  shall conduct a petrophysical programme to isolate  the  best  oil
contributing  intervals within these perforated zones.  Once defined,  the  well
will  be  put  on  a  production  test for each  horizon  to  determine  optimum
production rates.

The  Company  is  pleased  that  the results to date  confirm  the  presence  of
hydrocarbons and support its geological data interpretation. The Company is very
encouraged by the presence of oil in this portion of the re-completion programme
of this well.

The  Company anticipates expanding its activity in this area by re-entering  and
completing well #10 and securing Well #1 (following agreement with the Company's
joint activity partner NAK Nadra Krymgeologia) in the near future.


For further information contact:

Nostra Terra Oil and Gas Company plc
Brian Courtney, Chief Executive Officer        [e-mail]
Stephen Oakes, Non-executive Director          Tel: [phone]


Blomfield Corporate Finance Limited            Tel: [phone]
Alan MacKenzie
Ben Jeynes