Business
Production at CT5 Exceeds Expectations
Production at CT5 Exceeds Expectations.
About this update from Buccaneer Energy Plc
[{"type":"text","content":"\n \nRNS Number : 5788J Nostra Terra Oil & Gas Company PLC 18 July 2013 \n\n \nAIM: NTOG\n18 July 2013\n \nNostra Terra Oil and Gas Company plc\n(\"Nostra Terra\" or the \"Company\")\n \nProduction at Fifth Chisholm Trail Well Exceeds Expectations at 448 boepd \n \nNostra Terra, the AIM quoted oil and gas producer with assets in the USA, is pleased to announce that the fifth horizontal well in the Chisholm Trail Prospect (CT5), located in Oklahoma, has exceeded the Board's expectations by a substantial margin, with the most recent ten days of production having averaged 448 barrels of oil equivalent per day (BOEPD). Nostra Terra owns a 2.2% working interest in this well. \n \nNew well permitting continues in the Chisholm Trail Prospect area. Once elections are received and made on further wells, the Company will make relevant announcements. \n \nMatt Lofgran, Chief Executive Officer of Nostra Terra, commented: \n \n\"The Chisholm Trail prospect continues to deliver, adding another 10 barrels per day to our aggregate production. The relatively shallow decline curve so far on the Chisholm Trail prospect continues and we see no reason to think this latest well will perform otherwise.\"\nAlden McCall, Chief Operating Officer of Nostra Terra, added:\n\"The Horizontal Hunton Play is continuing, in our view, to fulfill the definition of a Resource Play. According to the Society of Petroleum Evaluation Engineers, a Resource Play is an \"accumulation of hydrocarbons known to exist over a large areal expanse and believed to have a lower geological and/or commercial development risk\". We are delighted to report that the most recent 10-day average at CT5 exceeds our expectations. Numerous new wells are in the planning stages with Ward Petroleum and other operators and we look forward to updating shareholders as they progress. \n \nFor further information, visit www.ntog.co.uk or contact:\n \nNostra Terra Oil and Gas Company plc\nMatt Lofgran, CEO\[email protected] &n...