17th Chisholm Trail Well Spud

RNS Number : 3345P

Nostra Terra Oil & Gas Company PLC

18 August 2014

 



AIM: NTOG

18 August 2014

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

Additional Chisholm Trail Well Spud

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 the spudding of the 17^th  development well in which it has an interest in the Chisholm Trail Prospect, located in Oklahoma.

The Wilson 3-8-5H well (CT-17) has spudded and is drilling forward.  The well will be drilled to an approximate 11,700 foot measured depth, at a TVD of 6,500 feet, with a 4,200 foot lateral into the Hunton formation.  Nostra Terra holds a 2.92% working interest in the well.  The Wilson is an increased density offset well to the Jones (CT-8) which has been one of the best performing wells in the play.  Both the Wilson and the Jones are operated by Stephens Production Company.

Nostra Terra's Chisholm Trail portfolio has varying size interests in 17 wells, 11 of which are producing with 6 in various stages of development, from permitting to fracking.  All but two of the wells are in the prolific Hunton Limestone formation.  Nostra Terra will make further announcements as the operations at CT-17 progress.

Matt Lofgran, Chief Executive Officer of Nostra Terra commented:

"The wells in the Chisholm Trail prospect are starting to reach payout.   By participating in a portfolio of low-risk wells with other suitably qualified operators, we are able to both grow our revenue and also dedicate time to new assets where we'll be the operator." 

For further information, visit www.ntog.co.uk or contact:

Nostra Terra Oil and Gas Company plc

Matt Lofgran, CEO

[e-mail]                                   Telephone: [phone]

Northland Capital Partners Ltd

(Nominated Adviser) 

Matthew Johnson / Lauren Kettle                Telephone: [phone]

Hume Capital Securities plc

(Broker)                             

Jon Belliss / Abigail Wayne                         Telephone: [phone]

Lothbury Financial Services Ltd

Gary Middleton / Michael Padley                Telephone: [phone] 

 

END

 

 

DRLGGUGCRUPCPGM