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25 Aug 2011 07:00
25 August 2011
Nostra Terra Oil and Gas Company plc
("Nostra Terra" or the "Company")
Operations Update - Nesbitt, Initial well producing
Nostra Terra is pleased to announce that the initial horizontal well in the Nesbitt Prospect Unit, located in the Woodlawn Field in Texas, has been completed. The production facilities have been built and the well has been put into production by New Century Exploration Inc.
Nostra Terra has a 3% working interest in the Nesbitt Prospect Unit, located in the Woodlawn Field in Texas, which is also operated by New Century Exploration, Inc.
The Company will provide an update on 30-day production figures in the future.
Matt Lofgran, Chief Executive Officer of Nostra Terra, commented:
"This marks the second well we've put into production this month. We have additional projects funded and in various stages of development, and anticipate bringing on additional wells this year where we own a larger interest."
For further information, visit www.ntog.co.uk or contact:
Nostra Terra Oil and Gas Company plc
Matt Lofgran, CEO Telephone: +1 480 993 8933 (US)
mlofgran@ntog.co.uk
Shore Capital and Corporate Limited
Andrew Raca / Toby Gibbs Telephone: +44 (0) 20 7408 4090
Alexander David Securities Ltd
David Scott / Bill Sharp Telephone: +44 (0)20 7448 9820
Lothbury Financial Services Limited
Gary Middleton / Michael Padley Telephone: +44 (0)20 7868 2010
Notes to Editors:
Nostra Terra Oil and Gas Company is fully funded for all its projects in the US where it is extracting new oil from old fields using new technology and drilling techniques.
Most of the production to date from Woodlawn has been from the Lower Pettet "Crane" Zone. Previous vertical drilling on the Nesbitt acreage has indicated that the Middle Pettit is also oil-bearing and much thicker, but less porous and permeable, than the Lower Pettet - making it an ideal candidate for horizontal drilling.
Nostra Terra's participation in the first well allows the opportunity to participate in the additional wells on the lease and a further two development wells are planned to fully exploit the Middle Pettit within the Nesbitt unit.
Nostra Terra's initial foray into the US was successful and has paved the way for much larger deals as shown by the last two acquisitions in Colorado and Oklahoma announced in the last two months.
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