REG - Nostra Terra O&G Co - Production and Operations Update

Nostra Terra Oil and GasAnnouncement

21/01/2025 07:00

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RNS Number : 0974U  Nostra Terra Oil & Gas Company PLC  21 January 2025

21 January 2025

 

Nostra Terra Oil and Gas Company Plc

("Nostra Terra" or "the Company")

 

Production and Operations Update

 

Nostra Terra (AIM: NTOG), an international oil and gas exploration and
production company focused on its Pine Mills producing asset in Texas, USA, is
pleased to provide the following update.

 

Highlights

 

·    Company total oil production is currently averaging approximately 120
bopd net

·    Production in Pine Mills averaged over 80 bopd in December 2024,
confirming the 60% or 30 bopd increase in production first achieved in
November of 2024.

·    Company is cashflow positive at corporate and operational levels

·    Waterflood pressure back up to pre-shut-in levels.

·    The Phase 2 workover program has commenced; the first well was put
into production on 20 January 2025

 

Production

Company oil production is currently averaging 120 bopd net, up significantly
from 90 bopd due to the contribution from the first phase of the planned
workover program at Pine Mills in which NTOG has a 100% working interest
("WI").  Five previously shut-in wells have been returned to production. Pine
Mills has averaged over 80 bopd for the entire month of December, with one
week exceeding 90 bopd.

 

In the northern section of the field, where the waterflood was restarted in
September 2024, the reservoir pressure has increased back to pre-shut-in
levels, and three previously shut-in wells were restarted this week.  The
full benefit of the waterflood restart has yet to be seen, and further
increases are expected over the next month.

 

Phase 2 - Workover Program

The second phase of the Pine Mills workover program commenced at the end of
December 2024, and the first well was returned to production on January 20th,
2025. The workover rig has now moved on to the second well location, and the
workover activities are expected to resume before the end of the current week.

 

Paul Welch, Nostra Terra's Chief Executive Officer, said:

 

"We are excited to see the field performing at the current levels and expect
further increases in production as the Phase 2 workover program progresses.
Now that the reservoir pressure in the northern section of the field is back
to pre-shut-in levels and three wells are being returned to production, we
anticipate further increases in oil production from this area.

 

Our decision to focus on our Pine Mills asset is delivering value for the
Company and our shareholders and I believe there is a lot more potential that
has yet to be realized.  I anticipate that in 2025, the rewards of focusing
on Pine Mills will only increase.

 

I look forward to reporting on the results of our second worker program."

 

 

A new Company PowerPoint presentation can be found at the following link:
https://www.ntog.co.uk/presentations.html

 

A recent live presentation by the Company CEO, at a ProActive Investors Forum
can be viewed at the following link:
https://www.youtube.com/watch?v=5yC81GJPJjY

 

For further information, contact:

 

 Nostra Terra Oil and Gas Company plc         Email:           paul@ntog.co.uk

 Paul Welch, CEO

 SP Angel Corporate Finance LLP               Tel:             +44 (0) 20 3470 0470

 (Nominated Adviser and Broker)

 Stuart Gledhill / Richard Hail / Adam Cowl

 Celicourt Communications (PR/IR)             Tel:   Email:    +44 (0) 20 7770 6424

NTOG@celicourt.uk
 Mark Antelme / Jimmy Lea

 

 

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