Nostra Terra Oil & Gas Company PLC Permian Basin - Trade Article
October 07 2020 - 2:00AM
RNS Non-Regulatory
TIDMNTOG
Nostra Terra Oil & Gas Company PLC
07 October 2020
7 October 2020
Nostra Terra Oil and Gas Company plc
("Nostra Terra" or the "Company")
Permian Basin Trade Article
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 note the recent trade article
highlighting successful wells near the Company's assets in the
Permian Basin.
Hart Energy, the Houston based energy industry publisher,
recently published an article titled:
Small Play, Big Wells: Permian Basin's Horizontal Eastern
Shelf
A conventional, stratigraphic trap in Scurry County on the
Permian Basin's Eastern Shelf doesn't cover hundreds of thousands
of acres like shale plays. But the wells are just as good. And, for
private wildcatters, they're particularly great.
The article describes the development of previously disregarded
and bypassed pay in the Pennsylvanian Strawn Formation. This
sandstone and shale unit is between 1000' to 4,500' ft thick and
lies at depths of around 7,500'ft. Legacy vertical wells have
penetrated this interval which was rarely tested, when flow tests
were conducted they typically yielded flowrates of 25 bbls/d,
however, with the advent of low cost, more efficient horizontal
well technologies these intervals are now being produced
commercially at much higher rates. Typical recent completions in
the area comprise a mile lateral section with multiple zones
yielding flowrates of 600-1000 bopd 30 day average with cumulative
production often exceeding 400,000 bbls.
This geology and play are of considerable interest to NTOG as it
sits in a region known to the Company and close to acreage in our
existing portfolio. This once again demonstrates the prospective
nature of our portfolio and the attractive returns on investment
capable of being generated.
Nostra Terra has built a portfolio with three areas of
operations in Texas, including the focus area in the Eastern Shelf
of the Permian Basin, which is located approximately 15 miles from
the wells featured in the article. Nostra Terra's focus in the same
area of the Permian Basin is also on shallow, conventional oil.
For further information, contact:
Nostra Terra Oil and Gas Company
plc
Matt Lofgran, CEO Email: +1 480 993 8933
Strand Hanson Limited
(Nominated & Financial Adviser and
Joint Broker)
Rory Murphy / Ritchie Balmer / Jack
Botros Tel: +44 (0) 20 7409 3494
Novum Securities Limited (Joint
Broker)
Jon Belliss
Tel: +44 (0) 207 399 9425
Lionsgate Communications (Public
Relations)
Jonathan Charles Tel: +44 (0) 7791 892509
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END
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