Pine Mills - Operations for New Well

RNS Number : 8503X

Nostra Terra Oil & Gas Company PLC

10 January 2022

 

10 January 2022

Nostra Terra Oil and Gas Company Plc

("Nostra Terra" or "the Company")

Pine Mills - Operations for New Well

Nostra Terra (AIM: NTOG), the oil & gas exploration and production company with a portfolio of development and production assets in Texas, USA,   is pleased to provide an update regarding the new well to be drilled at Pine Mills.

Further to its RNS on 5 January 2022, in which the Company announced the plans for multiple wells to be drilled this year, operations have commenced for the second well included in the farmout by Nostra Terra of an undeveloped portion of Pine Mills to Cypress Minerals LLC ("Cypress"). Construction of the drilling pad is now underway. The well design has been agreed and the rig is currently being mobilised. Simultaneously, the operator is permitting the well. Drilling is planned to commence in the coming weeks.

Cypress possesses 3D seismic data over the area and has high-graded locations. A successful well was drilled and put into production in January 2021. The second well will offset that first well. Nostra Terra has a 32.5% working interest in the wells and farmout area for additional potential locations. This second well is targeting the same producing horizon as the first well.

Matt Lofgran , Nostra Terra's Chief Executive Officer, said:

"Following the success of the first well, we're pleased to be moving forward on the second well with the same operator and drilling team.

We look forward to updating shareholders on progress with this well and other areas of our growth throughout what we expect to be a busy period."

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information, contact:

Nostra Terra Oil and Gas Company plc Matt Lofgran, CEO	Email:	[phone]
Beaumont Cornish Limited (Nominated Adviser) James Biddle/ Roland Cornish	Tel:	[phone]
Novum Securities Limited (Broker) Jon Belliss Lionsgate Communications (Public Relations) Jonathan Charles	Tel: Tel:	[phone] [phone]

 

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