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Operations Update - Verde Prospect
Operations Update - Verde Prospect.
About this update from Buccaneer Energy Plc
[{"type":"text","content":"\n \nRNS Number : 3261M Nostra Terra Oil & Gas Company PLC 15 August 2011 \n\nNostra Terra Oil and Gas Company plc\n \n(\"Nostra Terra\" or the \"Company\")\n \n \nOperations Update - Verde Prospect\n \n15 August 2011\n \n \nNostra Terra is pleased to announce that the initial well in the Verde Prospect in south-eastern Colorado, has been drilled ahead of schedule to a total vertical depth of 5,300 feet.\n \nIndications of productivity in drilling samples and electric logs were positive and the well has been recommended for completion. \nProduction casing will be run to total depth, followed by completion in the most optimal zone(s). NTOG will provide the first 30-day production figures as soon as these are available. \nNTOG has a 16.25% working interest (WI) in the Verde prospect. Following evaluation of testing and potential production of the initial well, two or three further development wells (PUDs) could be drilled, in which Nostra Terra also has the right to participate.\nMatt Lofgran, Chief Executive Officer of Nostra Terra, commented: \n\"We're pleased with the progress made on this well ahead of schedule and hope to see further positive results on this prospect. As a company, our current prospects are fully-funded, with additional cash on hand for further acquisitions, allowing us to continue to grow, regardless of the state of the global economy or markets.\"\nThe technical information within this announcement has been reviewed by Alden McCall, the Company's Chief Operating Officer, a Certified Petroleum Geologist and a member of the American Association of Petroleum Geologists and the Society of Petroleum Engineers.\n \nFor further information, visit www.ntog.co.uk or contact:\n \nNostra Terra Oil and Gas Company plc \nMatt Lofgran, CEO \[email protected] Telephone: +1 480 993 8933 (US)\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 ...