Production Added From New Wells

RNS Number : 9567Z

Nostra Terra Oil & Gas Company PLC

13 February 2014

 



AIM: NTOG

13 February 2014

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

Production Results from New Wells

Nostra Terra, the AIM quoted oil and gas producer with assets in the USA, is pleased to announce production results from two additional wells; the eighth horizontal well in the Chisholm Trail Prospect (CT8), located in Oklahoma, and the third in the Verde Prospect (V3), located in Colorado.

The Jones 1-5H well (CT8) has exceeded the Board's expectations by a substantial margin, with the most recent ten days of production having averaged 521 barrels of oil equivalent per day ("BOEPD").  The well was successfully drilled to a total depth ("TD") of 11,773 feet, at a true vertical depth ("TVD") of 6,747 feet with a 4,428 foot lateral in the Hunton formation. Nostra Terra has a 2.00% Working Interest ("WI") in the well which is operated by Stephens Production Company.

The Holt 1 well (V3) is a commercial producer where production has now stabilized at 12 barrels of oil per day ("BOPD").  The well was successfully drilled to a TD of 4,792 feet. Nostra Terra has a 17.54% WI in the well which is operated by Plainsmen Partners, LLC.

Elsewhere at the Chisholm Trail Prospect Nostra Terra's WI in CT11 (Bugg1-25H) has increased from 3.53% to 3.55%.  The Company's WI in CT12 (Oswald 1-27H) has decreased from 1.59% to 0.80% due to the size of the unit increasing from 320 acres to 640 acres.

Chisholm Trail Interests

WIs are subject to change

Well	Well Name	Formation	Operator	Net WI	Status	10-Day Average (Boepd)
CT6	Tharp 2-26H	Mississippian	Alta Mesa	TBD	On hold	-
CT7	LSEPMU 7-3H	Mississippian	Hinkle	1.60%	Producing	194
CT8	Jones 1-5H	Hunton	Stephens	2.00%	Producing	521
CT9	Mel B 1-33H	Hunton	Husky	7.375%	Putting into production	-
CT10	Katy 21-1H	Hunton	Gastar	1.875%	In planning	-
CT11	Bugg 1-25H	Hunton	Payne	3.55%	Drilling	-
CT12	Oswald 1-27H	Mississippian	Alta Mesa	0.8%	Permitting	-
CT13	Foster 31-1H	Hunton	Gastar	2.00%	Permitting	-

Additional wells are being planned and permitted by a number of operators in Chisholm Trail.  Nostra Terra will update shareholders of its participation in these wells once elections are made.

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

"The Chisholm Trail Prospect continues to produce excellent results, validating our decision to concentrate most of our resources to it. The benefit of our early decision to concentrate on this prospect is becoming apparent as we see the costs of later entrants rise substantially."

"Nostra Terra's portfolio of wells in the Chisholm Trail Prospect includes 7 wells which are in commercial production, 5 wells in various stages of election to production, and with more wells anticipated beyond these, we expect a significant increase in net production over the coming weeks and months."

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

Nostra Terra Oil and Gas Company plc

Matt Lofgran, CEO

[e-mail]                                         Telephone: [phone]

Shore Capital & Corporate Limited (Nominated Adviser) 

Bidhi Bhoma / Toby Gibbs                                  Telephone: [phone]

XCAP Securities plc (Broker)                             

Jon Belliss                                                        Telephone: [phone] 

Lothbury Financial Services Limited

Gary Middleton / Michael Padley                         Telephone: [phone]

 

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