Nostra Terra Oil & Gas Company PLC Additional Chisholm Trail Well Spud (0994V)
October 23 2014 - 3:30AM
UK Regulatory
TIDMNTOG
RNS Number : 0994V
Nostra Terra Oil & Gas Company PLC
23 October 2014
AIM: NTOG
23 October 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 18(th) development well
in which it has an interest in the Chisholm Trail Prospect, located
in Oklahoma.
The Bollenbach 1-33H well (CT-16) has spudded and is drilling
forward. The well will be drilled to an approximate 11,700 foot
measured depth, at a true vertical depth ("TVD") of 7,180 feet,
with a 4,200 foot lateral into the Hunton formation. Nostra Terra
owns a 20.0% WI in the well (subject to minor potential adjustment)
which is operated by Stephens Production Company. The total well
cost is estimated at $4,154,000 ($830,800 net cost to Nostra
Terra).
Matt Lofgran, Chief Executive Officer of Nostra Terra,
commented:
"Chisholm Trail has been a great prospect and we're excited to
see this well already drilling ahead. Our working interest in this
well, along with the CT14 (also 20% working interest) which will be
reworked in coming weeks, could have a significant impact on our
production.
"We're already cash flow positive, hence any additional
production and revenue will have a positive impact on our plans
going forward."
For further information, visit www.ntog.co.uk or contact:
Nostra Terra Oil and Gas Company plc
Matt Lofgran, CEO
mlofgran@ntog.co.uk Telephone: +1 480 993 8933
Northland Capital Partners Ltd
(Nominated Adviser)
Matthew Johnson / Lauren Kettle Telephone: +44 (0)20 7382 1100
Hume Capital Securities plc (Broker)
Jon Belliss / Abigail Wayne Telephone: +44 (0)20 3693 1470
Lothbury Financial Services Limited
Gary Middleton / Michael Padley Telephone: +44 (0)20 3440 7620
This information is provided by RNS
The company news service from the London Stock Exchange
END
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