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Nostra Terra O&G Co NTOG First Chisholm Trail Well Producing

  Nostra Terra O&G Co (NTOG) - First Chisholm Trail Well Producing

RNS Number : 8245Q
Nostra Terra Oil & Gas Company PLC
12 November 2012






AIM: NTOG

                                                              12 November 2012

                                                                             

                     Nostra Terra Oil and Gas Company plc

                      ("Nostra Terra" or the "Company")

                                      

                 Chisholm Trail Update - First Well Producing

                                      

Nostra Terra, the AIM quoted oil and gas producer with projects in the USA, is
pleased to  announce that  the first  horizontal well  in the  Chisholm  Trail 
Prospect (CT1) where  Nostra Terra has  a 0.47% working  interest, located  in 
Oklahoma, has been completed and is undergoing production testing.



The well is recovering  a mixture of  oil and frac fluid,  and oil sales  have 
begun. Once the well flows back (recovers water) from the hydraulic frac  and 
production levels begin to stabilise, production rates will be announced.



Completion operations have begun on the second horizontal well (CT2) which  is 
currently undergoing hydraulic  fracturing. The third  and fourth  horizontal 
wells (CT3 and CT4) are drilling according to schedule. Based on the  current 
progress, it is anticipated that the first four wells will be producing by the
year end.



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 on  the following  wells, the  Company will  make  relevant 
announcements.



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



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

"I am pleased to be  able to announce the  successful completion of our  first 
well at Chisholm Trail in such a  short period of time. As is common  practice 
with Nostra Terra,  we will  announce production  levels in  the near  future, 
following the  initial  flush  of  frac fluid  and  oil.  Chisholm  Trail  is 
developing quickly into a portfolio of wells within our greater portfolio. We
look forward to  updating the  progress of these  initial four  wells and  any 
other wells that are being planned and permitted."

                                                                             

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:



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

END


MSCLLFFDLDLAIIF -0- Nov/12/2012 07:00 GMT
 
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