The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksNostra Terra Regulatory News (NTOG)

Share Price Information for Nostra Terra (NTOG)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.11
Bid: 0.10
Ask: 0.12
Change: -0.0025 (-2.22%)
Spread: 0.02 (20.00%)
Open: 0.1125
High: 0.1125
Low: 0.11
Prev. Close: 0.1125
NTOG Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

High Plains interest increased to 20%

31 May 2013 07:19

RNS Number : 9785F
Nostra Terra Oil & Gas Company PLC
31 May 2013
 



 

Nostra Terra Oil and Gas Company, plc

("Nostra Terra" or the "Company")

 

Nostra increases interest in the High Plains Prospect to 20%

 

Nostra Terra, the AIM oil and gas producer, building its portfolio of assets in US oil fields, is pleased to announce that it has exercised an opportunity to increase its Working Interest ("WI") to 20% in the High Plains Prospect, located in Texas. This has quadrupled the company's original holding. Work to define prospects is moving forward.

 

The Company is already engaged in the drilling of several wells in its Chisholm Trail Prospect, operated by Ward Petroleum and others. The largest potential Working Interest in those wells is also 20% but through the Forced Pooling and election process unique to Oklahoma, the largest interest obtained so far has been 12.5%, with numerous smaller participations. The State of Texas regulatory framework does not engage in Forced Pooling, which means that the Company's working interests in wells elected to be drilled in High Plains' prospects will not be reduced and will consistently be 20%.

 

The High Plains Program covers a contiguous area of 42,000 acres (66 square miles), where subsurface mapping, 3D seismic, vertical and horizontal drilling and completion technologies have been applied to several different formations. As outlined in the Company announcement of 9 May 2013. The WI partners will seek to increase success rates through the application of a new "proof of concept". The region was noted in the US$2.85 billion purchase of Cordillera Energy Partners by Apache Corporation in January, 2012.

 

 

Alden McCall, Chief Operating Officer of Nostra Terra, commented:

 

"We were certainly excited about what we learned in the reentry of the previously drilled well which led to increasing our original Working Interest from 5% to 6.5%. Moreover, we knew that some potential existed to increase beyond that level. We have now been able to quadrupled our original working interest to 20% in the overall program, the maximum that was available.

 

Today, with this increase, we not only have the opportunity to build a healthy pipeline of drilling locations for years to come, but the exposure in each well will be several times greater than we have typicallyenjoyed at Chisholm Trail.

 

As mentioned before, we are actively integrating detailed subsurface mapping with 3D seismic data, further defining our exploration model. I expect that numerous prospects will be identified and that we could be moving forward to obtain leases under several of them shortly."

 

 

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

 

Alexander David Securities Ltd (Joint Broker)

David Scott / Bill Sharp Telephone: +44 (0)20 7448 9812

 

XCAP Securities plc (Joint Broker)

Jon Belliss / Halimah Hussain Telephone: +44 (0)20 7101 7070

 

Lothbury Financial Services Limited

Gary Middleton / Michael Padley Telephone: +44 (0)20 3440 7621

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DRLGLGDULBXBGXB
Date   Source Headline
22nd Feb 20247:00 amRNSHolding(s) in Company
6th Feb 20249:23 amRNSHolding(s) in Company
30th Jan 20249:37 amRNSHolding(s) in Company
30th Jan 20249:34 amRNSHolding(s) in Company
29th Jan 20248:12 amRNSHolding(s) in Company
16th Jan 20247:00 amRNSNTOG enters a Strategic Partnership
11th Jan 20247:00 amRNSGrowth Plans and Fundraise, Issue of Equity & TVR
28th Sep 20237:00 amRNSHalf-year Report
30th Aug 20239:50 amRNSFavourable Ruling regarding Fouke Wells
30th Jun 20232:45 pmRNSResult of AGM
2nd Jun 20237:00 amRNSFinal Results
20th Apr 20237:00 amRNSQ4 Production and Operations Update
27th Mar 20235:00 pmRNSChange of Auditor
30th Dec 20227:00 amRNSQ3 Production and Operations Update
16th Dec 20227:00 amRNSSubstantial increase in Senior Facility
30th Sep 20227:00 amRNSInterim Results for the period ended 30 June 2022
1st Sep 20227:00 amRNSQ2 Production and Operations Update
1st Aug 20227:00 amRNSFouke #2 Payback in Under 3 Months
19th Jul 202211:05 amRNSSecond Price Monitoring Extn
19th Jul 202211:00 amRNSPrice Monitoring Extension
18th Jul 20227:00 amRNSHolding(s) in Company
30th Jun 202211:22 amRNSResult of AGM
8th Jun 20227:00 amRNSFinal Results
7th Jun 20221:07 pmRNSGrant East #1 Completion Results
1st Jun 20224:40 pmRNSSecond Price Monitoring Extn
1st Jun 20224:35 pmRNSPrice Monitoring Extension
1st Jun 20222:05 pmRNSSecond Price Monitoring Extn
1st Jun 20222:00 pmRNSPrice Monitoring Extension
1st Jun 20227:00 amRNSExercise of Warrants and TVR
26th May 20227:00 amRNSQ1 Production and Operations Update
16th May 20227:00 amRNSFouke 2 Production Rates Exceed Expectations
9th May 20227:00 amRNSGrant East #1 Well successfully drilled
3rd May 20227:00 amRNSPermian Basin – Grant East #1 Well Spud
14th Apr 20227:00 amRNSDrilling Start Up – Grant East Lease
8th Apr 20227:00 amRNSExtension to Exercise Period for Placing Warrants
1st Apr 20226:24 pmRNSExercise of Warrants and TVR
28th Mar 20227:00 amRNSSenior Facility Expansion and asset value increase
28th Feb 20227:00 amRNSPine Mills – Fouke 2 Well successful
23rd Feb 20227:00 amRNSQ4 Production and Operations Update
17th Feb 20227:00 amRNSPine Mills – New Well Spud – Fouke #2
4th Feb 20227:00 amRNSAppointment of Director
10th Jan 20227:00 amRNSPine Mills – Operations for New Well
5th Jan 20227:00 amRNS2022 Growth Plans
8th Nov 20217:00 amRNSOperations Update
2nd Nov 20213:01 pmRNSExercise of Warrants and TVR
20th Oct 20217:00 amRNSFurther Reserves Update
30th Sep 20217:00 amRNSInterim Results
29th Sep 20218:40 amRNS$10m Senior Facility and Reserves Upgrade
5th Jul 20211:41 pmRNSResult of AGM
14th Jun 20217:00 amRNSFinal Results and Notice of AGM

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.