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Pin to quick picksNostra Terra Regulatory News (NTOG)

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Oklahoma operations update

12 Jun 2012 07:00

RNS Number : 1446F
Nostra Terra Oil & Gas Company PLC
12 June 2012
 

 

AIM: NTOG

12 June 2012

 

Nostra Terra Oil and Gas Company plc

("Nostra Terra", "NTOG" or the "Company")

 

Oklahoma operations update

Nostra Terra, the AIM quoted oil and gas producer, with a growing portfolio of horizontal and vertical drilling projects in the USA, is pleased to announce results from the first horizontal well within the Warrior Prospect, which is operated by Crown Energy Company. NTOG has a 10% working interest in this prospect.

The well has been completed and is on production. The well has been stabilizing over the last 10 days, following the frac and flow-back period. Current indications are that the well should become stable at approximately 50 boe/day or so. The well is still recovering frac fluid and as such this is a very early indication of the well's likely level of production.

 

The Company will provide an update on the well's ongoing productivity in due course.

 

Bale Creek

 

Drilling is finished on both the first and the second wells in Bale Creek. The first is currently undergoing completion operations, while the second well is being logged with completions to follow shortly afterwards.

 

 

Matt Lofgran, Chief Executive of Nostra Terra, commented:

 

"We're pleased to add more production to our portfolio. Throughout the remainder of the year we anticipate adding production and reserves in our growing interests".

 

The technical information within this announcement has been reviewed by Alden McCall, the Company's Chief Operating Officer, a Certified Petroleum Geologist and a member of the American Association of Petroleum Geologists and the Society of Petroleum Engineers.

 

 

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

David Scott / Bill Sharp Telephone: +44 (0)20 7448 9800

 

Lothbury Financial Services Limited

Gary Middleton / Michael Padley Telephone: +44 (0)20 7868 2010

 

 

Notes:

 

 

Nostra Terra owns a 30% WI in the Bale Creek prospect, operated by Pathfinder Development Capital, LLC. The prospect is located in Oklahoma, in an oil-rich area with multi-pay potential from as many as eight reservoirs.

 

Nostra Terra acquired a 10% working interest in the Warrior Prospect, operated by Crown Energy Company, in January 2012. This is another horizontal oil prospect with multi-pay potential from as many as eight reservoirs.

 

In November Nostra Terra announced that it had commenced the evaluation and development of its own plays within an established hydrocarbon region in Oklahoma and where it will control up to 100% of company-generated projects.

 

Announcements made by the Company are available automatically by email to those who register at www.ntog.co.uk.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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4th Feb 20227:00 amRNSAppointment of Director
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5th Jan 20227:00 amRNS2022 Growth Plans
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2nd Nov 20213:01 pmRNSExercise of Warrants and TVR
20th Oct 20217:00 amRNSFurther Reserves Update
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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

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