Business
Fifth Chisholm Well Spud
Fifth Chisholm Well Spud.
About this update from Buccaneer Energy Plc
[{"type":"text","content":"\n \nRNS Number : 1934C Nostra Terra Oil & Gas Company PLC 12 April 2013 \n \n\n \nAIM: NTOG\n12 April 2013\n \nNostra Terra Oil and Gas Company plc\n(\"Nostra Terra\" or the \"Company\")\n \nChisholm Trail - Fifth Well Spud\n \nNostra Terra, the AIM quoted oil and gas producer with projects in the USA, is pleased to announce that it has elected to participate in a fifth horizontal well (\"CT5\") in the Chisholm Trail Prospect, located in Oklahoma, in which it will have a 2.2% working interest. The CT5 horizontal well was recently spudded. The four wells drilled so far have exceeded the Board's expectations by a substantial margin. \n \nThe acquisition of new leases to consolidate interests and new well permitting has been ongoing in the Chisholm Trail Prospect area for the past six months. Once elections are received and made on further prospect wells, the Company will make relevant announcements. \n \n\n\n\n\nChisholm Trail Drilling Activity\n\n\n\n\n\n\n\nWell Sequence\n\n\nWorking Interest\n\n\n Current Status\n\n\n10-day Comparative Production Average (boepd)\n\n\n\n\nChisholm Trail 1 (CT1)\n\n\n0.47%\n\n\nProducing\n\n\n258\n\n\n\n\nChisholm Trail 2 (CT2)\n\n\n0.16%\n\n\nProducing\n\n\n555\n\n\n\n\nChisholm Trail 3 (CT3)\n\n\n12.58%\n\n\nProducing\n\n\n348\n\n\n\n\nChisholm Trail 4 (CT4)\n\n\n5.31%\n\n\nProducing\n\n\n505\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nChisholm Trail 5 (CT5)\n\n\n2.2%\n\n\nDrilling\n\n\nTBA\n\n\n\n\n \n \nMatt Lofgran, Chief Executive Officer of Nostra Terra, commented: \n\"We are very pleased with the production levels from the Chisholm Trail Prospect and it is now our intention to continue to exploit this opportunity by partnering in additional wells.\"\n\"We note with interest the recent acquisition announced on 1 April 2013, by Gastar Exploration Ltd. (NYSE: GST) of 157,000 net acreage, a portion of which is located in Kingfisher County, Oklahoma, close to our Chisholm Trail Prospect area. We believe this acquisition supports our assertion that the area is a prolific new oil play.\"\nAlden McCall, Chief Operating Officer of Nostra Terra, added:\n\"We have been monitoring the production performance of the first four wells drilled very carefully. Although we only have about 90 days of continuous...