Last checked at 18 Aug 2014 07:00
AIM: NTOG
18 August 2014
Nostra Terra Oil and Gas Company plc
("Nostra Terra" or the "Company")
Additional Chisholm Trail Well Spud
Nostra Terra (AIM:NTOG), the oil and gas exploration and production company with a growing portfolio of assets in the USA, is pleased to announce the spudding of the 17th development well in which it has an interest in the Chisholm Trail Prospect, located in Oklahoma.
The Wilson 3-8-5H well (CT-17) has spudded and is drilling forward. The well will be drilled to an approximate 11,700 foot measured depth, at a TVD of 6,500 feet, with a 4,200 foot lateral into the Hunton formation. Nostra Terra holds a 2.92% working interest in the well. The Wilson is an increased density offset well to the Jones (CT-8) which has been one of the best performing wells in the play. Both the Wilson and the Jones are operated by Stephens Production Company.
Nostra Terra's Chisholm Trail portfolio has varying size interests in 17 wells, 11 of which are producing with 6 in various stages of development, from permitting to fracking. All but two of the wells are in the prolific Hunton Limestone formation. Nostra Terra will make further announcements as the operations at CT-17 progress.
Matt Lofgran, Chief Executive Officer of Nostra Terra commented:
"The wells in the Chisholm Trail prospect are starting to reach payout. By participating in a portfolio of low-risk wells with other suitably qualified operators, we are able to both grow our revenue and also dedicate time to new assets where we'll be the operator."
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
Northland Capital Partners Ltd
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