7th Chisholm Well in Production
AIM: NTOG
06 November 2013
Nostra Terra Oil and Gas Company plc
("Nostra Terra" or the "Company")
Seventh Chisholm Trail Well Producing 194 Boepd
Nostra Terra, the AIM quoted oil and gas producer with projects in the USA, is pleased to announce its seventh well in the Chisholm Trail Prospect, LSEPMU 7-3H (CT7) has produced an average 194 Boepd from the Mississippian Lime Formation, over a 10-day period, following initial production testing. The company owns a net Working Interest of approximately 1.6% in this well, which is operated by Hinkle Oil and Gas, Inc.
The Mississippian Lime Play has been widely exploited in other parts of Northern Oklahoma and Southern Kansas. Current activity stretches from Harper County, Oklahoma, to the West to Osage County, Oklahoma, to the East and from Kingfisher County to the South, to beyond Sumner County, Kansas, to the North.
Table 1- WIs are subject to change
|
Well |
Well Name |
Formation |
Operator |
Net WI |
Status |
Initial Production (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% |
Drilling |
- |
|
CT9 |
Mel B 1-33H |
Hunton |
Husky |
7.375% |
Drilling |
- |
|
CT10 |
(Unnamed) |
Hunton |
Gastar |
1.875% |
In planning |
- |
Alden McCall, Chief Operating Officer of Nostra Terra, commented:
"The well was drilled to a total vertical depth of 6,000 feet to initiate drilling the curve to a horizontal profile. We completed the curve and reached a total measured depth of 11,840 feet. The CT7 well marks our first test of the Mississippian formation (overlying the Hunton) in this play and underscores the multiplier effect of stacked pay zones. Future Mississippian wells could be drilled from the same pads as the Hunton wells, which would save a significant amount of capital. Although the well tested within the range of our expectations for the Hunton, future Mississippian wells will have the benefit of the learning curve from this completion as well as those of other operators."
For further information, visit www.ntog.co.uk or contact:
Nostra Terra Oil and Gas Company plc
Matt Lofgran, CEO
mlofgran@ntog.co.uk Telephone: +1 480 993 8933
Shore Capital & Corporate Limited (Nominated Adviser)
Bidhi Bhoma/ Toby Gibbs Telephone: +44 (0)20 7408 4090
XCAP Securities plc (Joint Broker)
Jon Belliss Telephone: +44 (0)20 7101 7070
Lothbury Financial Services Limited
Gary Middleton / Michael Padley Telephone: +44 (0)20 3440 7620
Notes to Editors:
The Mississipian formation is characterised by shallow, low-cost wells that deliver reasonably impressive, primarily liquid production rates. It has been described as an incredibly varied, complex carbonate reservoir with comparatively high porosities and, owing to its Woodford Shale source rock, ample stacked-pay potential.
Compared to the Bakken, where wells can cost upwards of $11 million to drill and frac, Mississippi Lime wells rarely exceed $3.5 million from spud to completion. For Oklahoma operators, Mississippian wells also represent quite a hometown bargain, compared to the $9.5 million to $10 million it costs to drill an average Cana Woodford well to the southwest, although the latter's typical production rates also are appreciably higher.
Source World Oil.
This information is provided by RNS
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