Nostra Terra Oil & Gas Company PLC Permian Basin Twin Well - Drilling Commences (6799W)
November 16 2017 - 1:01AM
UK Regulatory
TIDMNTOG
RNS Number : 6799W
Nostra Terra Oil & Gas Company PLC
16 November 2017
16 November 2017
Nostra Terra Oil and Gas Company plc
("Nostra Terra" or the "Company")
Permian Basin Twin Well - Drilling Commences
Nostra Terra (AIM:NTOG), the oil and gas exploration and
production company with a portfolio of assets in the USA and Egypt,
is pleased to confirm the commencement of drilling the Twin Well in
the Permian Basin.
The drilling and logging of the Twin Well to approximately 3,200
feet is expected to take approximately 6-8 days, with completion of
the well anticipated to follow shortly thereafter.
The well is planned to test both the Clearfork and San Andres
formations, both of which are producing formations in the area. The
Clearfork has three different members (a distinct part of a
formation) that produce on the lease and in neighbouring leases
(Upper Clearfork, Middle Clearfork, and Lower Clearfork from
approximately 2,500 feet to 3,200 feet). If successful, the well is
expected to be connected to existing infrastructure.
This announcement contains inside information for the purposes
of Article 7 of EU Regulations 596/2014.
For further information, visit www.ntog.co.uk or contact:
Nostra Terra Oil and Gas Company
plc
Matt Lofgran, CEO +1 480 993 8933
Strand Hanson Limited
(Nominated & Financial Adviser and
Joint Broker) +44 (0) 20 7409 3494
Rory Murphy / Ritchie Balmer / Jack
Botros
Smaller Company Capital Limited (Joint
Broker) +44 (0) 20 3651 2910
Rupert Williams / Jeremy Woodgate
Notes to Editor:
On 31 October 2017, Nostra Terra announced its third acquisition
in the Permian Basin, being the acquisition of a 53.25% Working
Interest over a 120 acre lease (the "Lease").
An operator previously drilled a field development well on the
neighbouring lease, which produced oil. However, once the operator
completed a directional survey of the bottom-hole location it
discovered that the well had crossed the boundary of the Lease. The
operator of the neighbouring well set a plug back to a shallower
depth and completed the well as a saltwater disposal well and has
provided all of its data to assist with planning and drilling of
the Twin Well.
The planned drilling operation of the Twin Well at the Lease
will target the same bottom-hole location as the discovery well
drilled by the neighouring operator.
This information is provided by RNS
The company news service from the London Stock Exchange
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