Business
Quarterly Operations and Production Update
Quarterly Operations and Production Update.
About this update from Buccaneer Energy Plc
[{"type":"text","content":"\n \nRNS Number : 4482X Nostra Terra Oil & Gas Company PLC 13 January 2014 \n \n\n13 Jan 2014\n \n \nNostra Terra Oil and Gas Company plc\n(\"Nostra Terra\" or the \"Company\")\n \nQuarterly Operations and Production Update\n \n150% Production Increase Ahead Of Schedule\n \nNostra Terra (AIM:NTOG), the oil and gas exploration and production company with a growing portfolio of assets in the USA, is pleased to provide an operational and production update on various assets.\n \nHighlights\n \n· Annual production increase of over 150%* reached in November 2013, exceeding guidance ahead of schedule\n \n· October 2013 net production averaged 60 boepd (net of royalties)\n \n· Participating in 5 additional wells (since the last Quarterly Operations Update covering Q3 2013)\n \n· Participating in 2nd test well in the Mississippian formation, which offers potential to increase the number of drilling locations in the Chisholm Trail Prospect\n \n· Testing of the third well in the Verde Prospect is complete and the well has been put into continuous production\n \n· Company remains cash flow positive on an operational basis, with excess cash being re-invested in new wells\n \n· NTOG's largest Working Interest (\"WI\") in a well proposed in the Chisholm Trail Prospect, thus far, is being permitted\n \n(*based on production for January 2013 to November 2013 vs. total production for 2012. Full production numbers for November 2013 are not yet available but will be published in due course)\n \nProduction Update\n \nNostra Terra averaged net production of 60 boepd in October, 2013 (80% oil and liquids). This increase in production was driven largely by the successful rework of CT3 (Gant 1-27H) Production was lowest during the months of August and September when the CT3, was shut-in and then re-worked. Since then, the Company's production levels for October are the highest of the year to date on a monthly basis. \n \nMonthly Net Production\n \n &...