Business
Hoffman Starts Production
Hoffman Starts Production.
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 Hoffman Well Starts Production\n Update on Boxberger and Bloom Leases\n\n8 February 2009\n\nNostra Terra is pleased to announce that the first well at its Hoffman lease in\nKansas, USA, (the \"Well\") has established production.\n\nHoffman\nAfter 3 days of swabbing production rates of approximately 74 bopd have been\nestablished. An oil purchase contract has been executed for all production at\nthe Hoffman lease.\n\nThe Well is Nostra Terra's initial production well on the Hoffman property.\nRedevelopment of the second well at Hoffman has commenced and Nostra Terra\nanticipates bringing it into production during the first quarter. The Company\nhas a 7.8125 per cent interest (rising to 25 per cent once the final\nconsideration of $275,000 has been paid) in a total of six wells on the Hoffman\nproperty, including at least one salt water disposal well (\"SWD\"). The property\nalso includes additional leased acreage allowing for new wells to be drilled at\na later date.\n\nUpdates will be provided on reserves and production rates in the future to\nreflect fieldwork and production activities.\n\nBoxberger Lease\n\nFurther to the announcement made on 6 January, the production facility at NTOG's\nfirst producing well at Boxberger has now been completed and the Company expects\nto be able to announce production data later this quarter. Initial oil flows\nwere very encouraging. It was found, after running a second production test,\nthat a further salt water disposal well (\"SWD\") of higher injection capacity\nwould be needed to achieve the optimum results from this well. This has also\nbeen permitted for substantial excess injection capacity to cover additional\nwells on the lease and will be completed shortly.\n\nBloom\n\nA completion rig is currently at work on the Bloom property. We anticipate\nbringing one to two wells into production on this property this quarter.\n\n\n\"We are delighted to have our first well enter production and look forward to\nbringing further wells into production shortly. This is just the beginning of an\nexciting year,\" said Matt Lofgran, CEO of Nostra Terra.\n\n\nThe technical information in this announcement has been prepared and approved\nfor release by Jeremiah Burton of Hewitt Petroleum, Inc. He is a qualified...