TIDMNTOG

RNS Number : 7424E

Nostra Terra Oil & Gas Company PLC

10 November 2020

7.00am 10 November 2020

Nostra Terra Oil and Gas Company Plc

("Nostra Terra" or "the Company")

Pine Mills - Drilling 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 that the Cypress farm-out well at the Company's Pine Mills oil field has now spudded.

Drilling is permitted to a total depth of 6,000 feet and is estimated to take approximately 10 days. The primary target formation is the prolific Woodbine Sand, while the well will also evaluate several other known overburden formations. Nostra Terra owns a 32.5% working interest ("WI") in the planned well, which includes a 25% carried WI. Drilling will be followed promptly with logging and then completion.

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

"We continue to be pleased with the progress made by our partner. The result of this well can have a significant impact for the Company in terms of cashflow as well as an increase in reserves, also leading the way to additional development in Pine Mills.

Additionally, we continue progressing our portfolio further with the recent farm-in to the Permian Basin acreage, with the acquisition of the Caballos Creek asset, and assessment of other potential opportunities in line with our previously stated goals."

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:    +1 480 993 8933 
 Beaumont Cornish Limited 
  (Nominated Adviser) 
  James Biddle/ Roland Cornish        Tel:      +44 (0) 20 7628 3396 
 Novum Securities Limited (Broker) 
  Jon Belliss 
                                      Tel:      +44 (0) 207 399 9425 
  Lionsgate Communications (Public 
  Relations) 
  Jonathan Charles                     Tel:      +44 (0) 7791 892509

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DRLUPGCUGUPUGRB

(END) Dow Jones Newswires

November 10, 2020 02:00 ET (07:00 GMT)

Nostra Terra Oil And Gas (LSE:NTOG)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Nostra Terra Oil And Gas Charts.
Nostra Terra Oil And Gas (LSE:NTOG)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Nostra Terra Oil And Gas Charts.