Nostra Terra Oil & Gas Company PLC Pine Mills -- Drilling Update & West Texas Update (3515F)
November 16 2020 - 2:00AM
UK Regulatory
TIDMNTOG
RNS Number : 3515F
Nostra Terra Oil & Gas Company PLC
16 November 2020
7.00am 16 November 2020
Nostra Terra Oil and Gas Company Plc
("Nostra Terra" or "the Company")
Pine Mills - Drilling Update &
West Texas Farm-In 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 reached
total depth ("TD").
Pine Mills (East Texas)
Following the spud announcement on the 10(th) of November the
Company is pleased to report that the well has now safely reached
its planned Total Depth (TD) of 6000ft in the Cretaceous Woodbine
Formation.
The Operator is now running wireline logging suites to evaluate
the target intervals and will then select perforations and complete
the well. Nostra Terra owns a 32.5% working interest ("WI") in the
well, which includes a 25% carried WI.
Permian Basin (West Texas)
As previously announced on 21 Sep 2020, Nostra Terra signed a
farm-in agreement for three conventional producing leases in the
Eastern Shelf of the Permian Basin. The Company confirms to
shareholders that the transaction has closed. Procedures for the
first recompletion are ready and contractors are being scheduled.
It is anticipated that the operation will be complete in
December.
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
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END
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