REG - Nostra Terra O&G Co - Pine Mills – New Well Spud – Fouke #2

Nostra Terra Oil and GasAnnouncement

17/02/2022 07:00

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RNS Number : 9238B  Nostra Terra Oil & Gas Company PLC  17 February 2022

 

 

17 February 2022

 

Nostra Terra Oil and Gas Company Plc

("Nostra Terra" or "the Company")

 

Pine Mills - New Well Spud - Fouke #2

 

 

Nostra Terra (AIM: NTOG), the oil & gas exploration and production company
with a portfolio of production and development assets in Texas, USA is
pleased to announce that a second well in the Cypress farm-out area 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 is the prolific Woodbine Sand, but
the well will also evaluate several other up hole formations prior to reaching
total depth. Nostra Terra owns a 32.5% working interest ("WI") in the well.
Drilling will be followed promptly by logging and then completion operations.

 

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

 

"Following the success of the initial well (Fouke #1) drilled in the Pine
Mills farm-out area, we're excited to be drilling a second well (Fouke #2),
which will offset it.  If successful, the Fouke #2 will immediately be put
into production, further increasing our reserves, production and most
importantly our cashflow.

 

We look forward to updating the market on the results of the Fouke #2 in due
course."

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK Domestic
Law by virtue of the European Union (Withdrawal) Act 2018. Upon the
publication of this announcement, this inside information is now considered to
be in the public domain.

 

 

For further information, contact:

 

 Nostra Terra Oil and Gas Company plc          Tel:   +1 480 993 8933

 Matt Lofgran, CEO

 Beaumont Cornish Limited                      Tel:   +44 (0) 20 7628 3396

 (Nominated Adviser)

 James Biddle/ Roland Cornish

 Novum Securities Limited (Broker)             Tel:   +44 (0) 207 399 9425

 Jon Belliss

                                               Tel:    +44 (0) 7791 892509

 Lionsgate Communications (Public Relations)

 Jonathan Charles

 

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