Chisholm Trail Operations Update

RNS Number : 8887X

Nostra Terra Oil & Gas Company PLC

17 January 2014

 

AIM: NTOG

17^th January 2014

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

Operations Update - Chisholm Trail

Nostra Terra, the AIM quoted oil and gas producer with a growing portfolio of producing assets in the USA, is pleased to provide an update on the Company's Chisholm Trail prospect in Oklahoma.

The CT8 (Jones1-25H) well was successfully drilled to a total depth ("TD") of 11,773 feet, at a true vertical depth of 6,747 feet with a 4,428 foot lateral in the Hunton formation.  The well, where Nostra Terra has a 2.00% Working Interest ("WI"), is now in production. Average production rates will be announced once the rate of production has stabilized.

The CT10 well, previously unnamed, has now been named the Katy 21-1H.  The well is planned to be drilled to a TD of 12,750 feet with a lateral of approximately 4,000 feet in the Hunton formation.  Nostra Terra has a 1.875% WI in this well, which will be operated by Gastar.

Nostra Terra has elected to participate in the 13^th well (Foster 31-1H) in the Chisholm Trail prospect (CT13). The well is planned to be drilled to a TD of 12,750 feet with a lateral of approximately 4,000 feet in the Hunton formation.  Nostra Terra has a 2.00% WI in this well, which will be operated by Gastar.

Table 1- WIs are subject to change

Well	Well Name	Formation	Operator	Net WI	Status	Initial Production (Boepd)
CT6	Tharp 2-26H	Mississippian	Alta Mesa	TBD	On hold	-
CT7	LSEPMU 7-3H	Mississippian	Hinkle	1.60%	Producing	194
CT8	Jones 1-5H	Hunton	Stephens	2.00%	Producing	(TBD)
CT9	Mel B 1-33H	Hunton	Husky	7.375%	Frac completed, putting into production	-
CT10	Katy 21-1H	Hunton	Gastar	1.875%	In planning	-
CT11	Bugg 1-5H	Hunton	Payne	3.53%	Drilling	-
CT12	Oswald 1-27H	Mississippian	Alta Mesa	1.59%	Permitting	-
CT13	Foster 31-1H	Hunton	Gastar	2.00%	Permitting	-

Additional wells are being planned and permitted by a number of operators in Chisholm Trail.  Nostra Terra will update shareholders of its participation in these wells once elections are made.

Matt Lofgran, Chief Executive Officer of Nostra Terra, commented:

"In addition to the 6 producing Chisholm Trail wells, where production rates have been announced, we currently have seven additional wells in which we've elected to participate and which are in various stages of development, ranging from permitting through to production. 

Being in a resource play such as Chisholm Trail we're excited to see the results of all of these upcoming wells and anticipate that they will grow our net production in the coming weeks and months."

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

Nostra Terra Oil and Gas Company plc

Matt Lofgran, CEO

[e-mail]                                               Telephone: [phone]

Shore Capital & Corporate Limited (Nominated Adviser) 

Bidhi Bhoma / Toby Gibbs                                       Telephone: [phone]

XCAP Securities plc (Broker)                             

Jon Belliss                                                                 Telephone: [phone] 

Lothbury Financial Services Limited

Gary Middleton / Michael Padley                            Telephone: [phone]

 

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