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17 Jan 2014 07:00
AIM: NTOG
17th January 2014
Nostra Terra Oil and Gas Company plc
("Nostra Terra" or the "Company")
Operations Update - Chisholm Trail
Nostra Terra, the AIM quoted oil and gas producer with a growing portfolio of producing assets in the USA, is pleased to provide an update on the Company's Chisholm Trail prospect in Oklahoma.
The CT8 (Jones1-25H) well was successfully drilled to a total depth ("TD") of 11,773 feet, at a true vertical depth of 6,747 feet with a 4,428 foot lateral in the Hunton formation. The well, where Nostra Terra has a 2.00% Working Interest ("WI"), is now in production. Average production rates will be announced once the rate of production has stabilized.
The CT10 well, previously unnamed, has now been named the Katy 21-1H. The well is planned to be drilled to a TD of 12,750 feet with a lateral of approximately 4,000 feet in the Hunton formation. Nostra Terra has a 1.875% WI in this well, which will be operated by Gastar.
Nostra Terra has elected to participate in the 13th well (Foster 31-1H) in the Chisholm Trail prospect (CT13). The well is planned to be drilled to a TD of 12,750 feet with a lateral of approximately 4,000 feet in the Hunton formation. Nostra Terra has a 2.00% WI in this well, which will be operated by Gastar.
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% | Producing |
(TBD)
|
CT9 | Mel B 1-33H | Hunton | Husky | 7.375% | Frac completed, putting into production |
- |
CT10 | Katy 21-1H | Hunton | Gastar | 1.875% | In planning |
- |
CT11 | Bugg 1-5H | Hunton | Payne | 3.53% |
Drilling
|
- |
CT12 | Oswald 1-27H | Mississippian | Alta Mesa | 1.59% |
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:
"In addition to the 6 producing Chisholm Trail wells, where production rates have been announced, we currently have seven additional wells in which we've elected to participate and which are in various stages of development, ranging from permitting through to production.
Being in a resource play such as Chisholm Trail we're excited to see the results of all of these upcoming wells and anticipate that they will grow our net production in 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
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 (Broker)
Jon Belliss Telephone: +44 (0)20 7101 7070
Lothbury Financial Services Limited
Gary Middleton / Michael Padley Telephone: +44 (0)20 3440 7620
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