Nostra Terra O&G Co NTOG Fourth Well Spud at Chisholm Trail

  Nostra Terra O&G Co (NTOG) - Fourth Well Spud at Chisholm Trail

RNS Number : 7164P
Nostra Terra Oil & Gas Company PLC
29 October 2012




AIM: NTOG

                                                               29 October 2012

                                                                             

                     Nostra Terra Oil and Gas Company plc

                      ("Nostra Terra" or the "Company")

                                      

            Chisholm Trail - 4th Well Spudded & Operations Update

                                      

Nostra Terra, the AIM quoted oil and gas producer with projects in the USA, is
pleased to announce that  the fourth horizontal well  has been spudded in  the 
Chisholm Trail Prospect, located in Oklahoma. As announced on 25 October, the
third well is also drilling while the  first and second wells in the  Chisholm 
Trail Prospect have  both finished  drilling. Completion  operations are  now 
underway on the first and second horizontal wells.



As with the third well, the fourth  is expected to take approximately 30  days 
to drill, followed by completion and initial production testing. As is  normal 
practice at Nostra Terra,  production levels will be  announce once each  well 
has stabilized.



Additional wells are  in the  process of being  planned and  permitted, and  a 
leasing program  focused in  the area  is also  ongoing. Once  elections  are 
received and made the Company  will make relevant announcements on  additional 
wells.





Matt Lofgran, Chief Executive Officer of Nostra Terra, commented:

"I am delighted  that our partners  in the Chisholm  Trail prospect have  been 
moving so swiftly  to drill  and complete  these prospects  in Oklahoma.  The 
initial results in the area justify the rapid progress and we look forward  to 
delivering shareholders further updates on our interests"

                                                                             

For further information, visit www.ntog.co.uk or contact:



Nostra Terra Oil and Gas Company plc

Matt Lofgran, CEO

mlofgran@ntog.co.uk       
Telephone: +1 480 993 8933



Shore Capital & Corporate Limited (Nominated Adviser)

Bidhi   Bhoma/   Toby    Gibbs 
Telephone: +44 (0)20 7408 4090



Alexander David Securities Ltd

David Scott  / Bill  Sharp 
Telephone: +44 (0)20 7448 9812



Lothbury Financial Services Limited

Gary   Middleton   /   Michael    Padley 
Telephone: +44 (0)20 3440 7620





Notes:



Chisholm Trail Drilling Activity (currently permitted
wells)
         Well          Working Interest   Current Status   Production (boepd)
Chisholm Trail 1 (CT1)            0.47% Completion underway       (TBD)
Chisholm Trail 2 (CT2)            0.16% Completion underway       (TBD)
Chisholm Trail 3 (CT3)           12.58% Drilling                  (TBD)
Chisholm Trail 4 (CT4)            5.31% Drilling                  (TBD)





In September 2012, Nostra Terra entered into an agreement with Ward  Petroleum 
for the Chisholm Trail Prospect,  a multi-well horizontal drilling project  in 
Oklahoma. The  prospect  area  is large  in  size  and a  leasing  program  is 
on-going. Nearby  drilling has  resulted  in several  wells that  produce  in 
excess of 200boepd after the first 30 days of "flush" production. Nostra Terra
owns a 20% interest in this  active program within which working interests  in 
the individual  wells  vary. Based  on  results from  neighbouring  wells,  we 
anticipate this prospect also has the potential to deliver rapid payouts  with 
continued strong production levels.



Ward Petroleum Corporation,  based in Enid  Oklahoma, was founded  in 1963  by 
LewWard, its  Chairman.  Mr. Ward  is  a past-President  of  the  Independent 
Producers Association of America (IPAA) and  is a respected member of the  oil 
producers' community of the  United States. Among  its industry honours,  Ward 
Petroleum has been listed in the top 100 fastest growing American companies by
Inc. magazine, and has been named a "Blue Chip Enterprise" by Nations Business
magazine. Since its founding, Ward Petroleum has drilled more than 800  wells 
in the  Anadarko  and  Arkoma Basins,  some  as  deep as  22,000  feet.  Ward 
Petroleum operates nearly 350 wells in Oklahoma throughout both basins.



Oklahoma is the fifth  largest producing state in  the United States in  crude 
oil production. Despite its long history, it still produces about one  quarter 
of the peak rate that  was reached in 1927. The  state was the birthplace  for 
such commonly recognized corporate names as Halliburton, ConocoPhillips and J.
Paul Getty.





                     This information is provided by RNS
           The company news service from the London Stock Exchange

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