Pine Mills - Operations Update

RNS Number : 4000C

Nostra Terra Oil & Gas Company PLC

19 October 2020

 

7.00am 19 October 2020

Nostra Terra Oil and Gas Company Plc

("Nostra Terra" or "the Company")

Pine Mills - Operations Update

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 announce, further to the Company's RNS on 8 October 2020, that Cypress Minerals LLC ("Cypress") has begun construction of the drilling pad ("pad") in preparation to drill the new well at the Company's Pine Mills oil field.

Construction of the drilling pad began last week.  The rig is on standby next to the location where, once the pad is constructed, it will immediately be mobilised to Pine Mills to begin drilling. Nostra Terra owns a 32.5% working interest ("WI") in the planned well, which includes a 25% carried WI and the remainder at cost.

The Company will confirm permitting and the start of drilling and look forward to providing further updates as drilling progresses.

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

"We're pleased to be working with Cypress and to see the progress they're making, and look forward to spudding the new well very soon.

In addition to the new well at Pine Mills, work continues in our second and third areas of operation where we aim to increase production and reserves this quarter."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014

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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