Permian Basin - Spud of Third Well

RNS Number : 7170N

Nostra Terra Oil & Gas Company PLC

11 May 2018

 

11 May 2018

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

Permian Basin - Spud of Third Well

Nostra Terra (AIM:NTOG), the oil and gas exploration and production company with a portfolio of assets in the USA and Egypt, is pleased to announce the commencement of drilling of its third well in the Permian Basin, in Mitchell County, Texas.

Following drilling and logging of the G6 well (as announced on 10 May 2018), the rig was mobilized to the next drilling location, the C8 well ("the C8") and drilling has now commenced. The drilling and logging of the C8 to approximately 3,200 feet is expected to take approximately 6-8 days, with completion of the well anticipated to follow shortly thereafter. Nostra Terra owns a 73% Working Interest ("WI") in the C8.

The well is planned to test both the Clearfork and San Andres formations, both of which are producing formations in the area. The Clearfork has three different members (a distinct part of a formation) that produce on the lease and in neighbouring leases (Upper Clearfork, Middle Clearfork, and Lower Clearfork from approximately 2,500 feet to 3,200 feet). If successful, the well will be connected to existing infrastructure.

Nostra Terra will continue to provide further updates on the progress of the G6 and C8 wells.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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

Nostra Terra Oil and Gas Company plc Matt Lofgran, CEO	Tel:	[phone]
Strand Hanson Limited (Nominated & Financial Adviser and Joint Broker) Rory Murphy / Ritchie Balmer / Jack Botros	Tel:	[phone]
Smaller  Company Capital Limited (Joint Broker) Rupert Williams / Jeremy Woodgate	Tel:	[phone]

 

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