REG - Nostra Terra O&G Co - Pine Mills – Operations for New Well

Nostra Terra Oil and GasAnnouncement

10/01/2022 07:05

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220110:nRSJ8503Xa&default-theme=true

RNS Number : 8503X  Nostra Terra Oil & Gas Company PLC  10 January 2022

10 January 2022

 

Nostra Terra Oil and Gas Company Plc

("Nostra Terra" or "the Company")

 

Pine Mills - Operations for New Well

 

 

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 provide an update regarding the new well to be drilled at Pine
Mills.

 

Further to its RNS on 5 January 2022, in which the Company announced the
plans for multiple wells to be drilled this year, operations have commenced
for the second well included in the farmout by Nostra Terra of an undeveloped
portion of Pine Mills to Cypress Minerals LLC ("Cypress"). Construction of the
drilling pad is now underway. The well design has been agreed and the rig is
currently being mobilised. Simultaneously, the operator is permitting the
well. Drilling is planned to commence in the coming weeks.

 

Cypress possesses 3D seismic data over the area and has high-graded locations.
A successful well was drilled and put into production in January 2021. The
second well will offset that first well. Nostra Terra has a 32.5% working
interest in the wells and farmout area for additional potential locations.
This second well is targeting the same producing horizon as the first well.

 

 

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

 

"Following the success of the first well, we're pleased to be moving forward
on the second well with the same operator and drilling team.

 

We look forward to updating shareholders on progress with this well and other
areas of our growth throughout what we expect to be a busy period."

 

 

 

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          Email:  +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

 Lionsgate Communications (Public Relations)   Tel:    +44 (0) 7791 892509

 Jonathan Charles

 

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDVKLFBLFLBBBV