Business
Operations Update Nesbitt
Operations Update Nesbitt.
About this update from Buccaneer Energy Plc
[{"type":"text","content":"\n \nRNS Number : 9993M Nostra Terra Oil & Gas Company PLC 25 August 2011 \n\n25 August 2011\n \nNostra Terra Oil and Gas Company plc\n \n(\"Nostra Terra\" or the \"Company\")\n \n \nOperations Update - Nesbitt, Initial well producing\n \n \nNostra Terra is pleased to announce that the initial horizontal well in the Nesbitt Prospect Unit, located in the Woodlawn Field in Texas, has been completed. The production facilities have been built and the well has been put into production by New Century Exploration Inc.\nNostra Terra has a 3% working interest in the Nesbitt Prospect Unit, located in the Woodlawn Field in Texas, which is also operated by New Century Exploration, Inc.\nThe Company will provide an update on 30-day production figures in the future. \nMatt Lofgran, Chief Executive Officer of Nostra Terra, commented: \n\"This marks the second well we've put into production this month. We have additional projects funded and in various stages of development, and anticipate bringing on additional wells this year where we own a larger interest.\"\n \nFor further information, visit www.ntog.co.uk or contact:\n \nNostra Terra Oil and Gas Company plc \nMatt Lofgran, CEO Telephone: +1 480 993 8933 (US)\[email protected]\n \nShore Capital and Corporate Limited \nAndrew Raca / Toby Gibbs Telephone: +44 (0) 20 7408 4090\n \nAlexander David Securities Ltd \nDavid Scott / Bill Sharp Telephone: +44 (0)20 7448 9820 \n \nLothbury Financial Services Limited \nGary Middleton / Michael Padley Telephone: +44 (0)20 7868 2010\n \nNotes to Editors:\n \nNostra Terra Oil and Gas Company is fully funded for all its projects in the US where it is extracting new oil from old fields using new technology and drilling techniques.\n \nMost of the production to date from Woodlawn has been from the Lower Pettet \"Crane\" Zone. Previous vertical drilling on the Nesbitt acreage has indicated that the Middle Pettit is also oil-bearing and much thicker, but less porous and permeable, than the Lower Pettet - making it an ideal candidate for horizontal drilling.\nNostra Terra's participation in the first well allows the opportunity to participate in the additional wells on the lease and a further two development wells are planned to fully exploit the Middle Pettit wit...