Oklahoma operations update

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

[e-mail]                                                       Telephone: [phone]

Shore Capital & Corporate Limited (Nominated Adviser) 

Bidhi Bhoma/ Toby Gibbs                                                 Telephone: [phone]

Alexander David Securities Ltd

David Scott / Bill Sharp                                                     Telephone: [phone]

Lothbury Financial Services Limited

Gary Middleton / Michael Padley                                       Telephone: [phone]

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.

 

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