Business
Drilling Update
Drilling Update.
About this update from Buccaneer Energy Plc
[{"type":"text","content":"\n NOSTRA TERRA OIL AND GAS COMPANY PLC\n (\"Nostra Terra\", \"NTOG\" or the \"Company\")\n\n NOSTRA TERRA ANNOUNCES HYDROCARBON DISCOVERY\n\n\n13 October 2009\n\nNostra Terra is pleased to announce a hydrocarbon discovery on the Boxberger\nproperty in Kansas, USA.\n\nThe Boxberger A #5 horizontal well in Russell County, Kansas is Nostra Terra's\ninitial production well in the area. The well is a re-entry. It was originally\ndrilled to a total measured depth of 3,400 feet. We are drilling multiple\nlaterals in two un-produced zones in lengths of 300 feet to 600 feet each.\nDetails on flow rate will be provided once production is established. Nostra\nTerra currently holds a 75% working interest before payout and 50% after payout\nin this well. Hewitt Petroleum, Inc. (HPI) holds the remaining interest.\n\n\"We have encountered two reservoirs that have never been produced before,\" said\nWilliam A. Alexander, a consulting engineer based in Broken Arrow, OK. The\nproject culminates a five-year research effort designed to identify bypassed\nreserves in the Central Kansas Uplift. The field where Boxberger is located is\none of the largest in Kansas having produced almost 100 million barrels of oil\nin various zones since its discovery in 1926.\n\n\"Our partnership with HPI is off to a great start,\" said Matt Lofgran, CEO of\nNostra Terra. \"We are encouraged by the early results. Re-work operations\nshould be completed mid-week and re-work of the Boxberger #2 SWD is now\ncomplete. Once the Boxberger A #5 is in production, we will immediately move to\nthe Boxberger B #2. We plan on finishing the rework and bringing that well\nonline in 2-3 weeks.\"\n\nThe technical information in this announcement has been prepared and approved\nfor release by W. A Alexander. Jr of W. A. Alexander, Jr. Oil & Gas\nConsulting. He is a qualified person as defined in the Note for\nMining and Oil & Gas Companies, June 2009, of the London Stock Exchange.\n\nFurther announcements on progress at the properties will be made in due course\nand are available automatically by email to those who register at\nwww.ntog.co.uk.\n\nFor further information contact:\n\nNostra Terra Oil and Gas Company plc Tel: +1 480 993 8933\nMatt Lofgran, CEO\[email protected]\n\nBlomfield Corporate Finance Ltd Tel: +44 (0)20 7489 4500\nPeter Trevelyan-Clark/Ben Jeynes\n\nAl...