Spud of G6 Well

RNS Number : 0541N

Nostra Terra Oil & Gas Company PLC

03 May 2018

 

3 May 2018

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

Spud of G6 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 second well in the Permian Basin, in Mitchell County, Texas.

The drilling and logging of G6 Well ("the G6") to approximately 3,200 feet is expected to take approximately 6-8 days, with completion of the well anticipated to follow shortly thereafter.

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 owns a 53.25% Working Interest ("WI") in the G6.

On completion of drilling operations at the G6, the rig will be immediately mobilised to Nostra Terra's second drilling location (where it owns a 73% WI), as part of this back-to-back drill campaign. Nostra Terra will continue to provide further updates on the progress of the G6, as well as on the scheduling and spudding of the second well in due course.

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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