Last checked at 18 Nov 2014 07:00
AIM: NTOG
18 November 2014
Nostra Terra Oil and Gas Company plc
("Nostra Terra" or the "Company")
Further Production Added at Chisholm Trail
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 its fourteenth well in the Chisholm Trail Prospect, Gant 1-22H (CT14) has produced an average 286 Boepd from the Hunton Formation, over the most recent 10-day period of production. The company owns a net Working Interest of approximately 20% in this well, which is operated by Ward Petroleum.
Additionally, the Bollenbach 1-33H (CT16) has been drilled and hydraulic fracturing operations completed, production results will be reported shortly. Nostra Terra also has a 20% working interest in this well, operated by Stephens Production Company.
Matt Lofgran, Chief Executive Officer of Nostra Terra, commented:
"Chisholm Trail has helped build the foundation of the Company's portfolio recording the highest number of producing wells in our prospects. Following an inexpensive rework, CT-14 is performing in excess of management's initial expectations and with a 20% working interest the well will materially improve our free cash flow. We look forward to providing shareholders with further updates, including news on the production rate for the Bollenbach which is expected shortly and where we also have a 20% working interest."
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
(Nominated Adviser)
Matthew Johnson / Lauren Kettle Telephone: +44 (0)20 7382 1100
Hume Capital Securities plc (Broker)
Jon Belliss / Abigail Wayne Telephone: +44 (0)20 3693 1470
Lothbury Financial Services Limited
Gary Middleton / Michael Padley Telephone: +44 (0)20 3440 7620