Pine Mills - Drilling Update & West Texas Update

RNS Number : 3515F

Nostra Terra Oil & Gas Company PLC

16 November 2020

 

7.00am 16 November 2020

Nostra Terra Oil and Gas Company Plc

("Nostra Terra" or "the Company")

Pine Mills - Drilling Update &

West Texas Farm-In Update

Nostra Terra (AIM: NTOG), the oil & gas exploration and production company with a portfolio of development and production assets in Texas, USA   is pleased to announce that the Cypress farm-out well at the Company's Pine Mills oil field has now reached total depth ("TD").

Pine Mills (East Texas)

Following the spud announcement on the 10^th of November the Company is pleased to report that the well has now safely reached its planned Total Depth (TD) of 6000ft in the Cretaceous Woodbine Formation.

The Operator is now running wireline logging suites to evaluate the target intervals and will then select perforations and complete the well. Nostra Terra owns a 32.5% working interest ("WI") in the well, which includes a 25% carried WI.

Permian Basin (West Texas)

As previously announced on 21 Sep 2020, Nostra Terra signed a farm-in agreement for three conventional producing leases in the Eastern Shelf of the Permian Basin. The Company confirms to shareholders that the transaction has closed. Procedures for the first recompletion are ready and contractors are being scheduled. It is anticipated that the operation will be complete in December.

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

For further information, contact:

Nostra Terra Oil and Gas Company plc Matt Lofgran, CEO	Email:	[phone]
Beaumont Cornish Limited (Nominated Adviser) James Biddle/ Roland Cornish	Tel:	[phone]
Novum Securities Limited (Broker) Jon Belliss Lionsgate Communications (Public Relations) Jonathan Charles	Tel: Tel:	[phone] [phone]

 

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