Business
Quarterly Production Update
Quarterly Production Update.
About this update from Buccaneer Energy Plc
[{"type":"text","content":"\n \nRNS Number : 8464O Nostra Terra Oil & Gas Company PLC 12 August 2014 \n \n\n \nNostra Terra Oil and Gas Company plc\n(\"Nostra Terra\" or the \"Company\")\n \nQuarterly Production and Operations Update \n \nTwo Chisholm Trail Wells Reach Early Payout\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. The Company is now looking to expand by increasing its Working Interest (\"WI\") percentages and is also preparing to become an operator on further prospects.\n \n12 August 2014\n \n \n Highlights\n \n· CT-4 (Kathy James) reached payout at end of February (13 months)\n· CT-3 (Gant 27) projected to reach payout in Q3-14 (approximately 18 months)\n· CT-15 (Curly 1-26H) adds gross Initial Rate of 232 boepd early production to the portfolio, (approx. 21 boepd net to Nostra's 11.62% WI) \n· CT-14 (Grant 22) is producing commercial rates of oil and gas and awaiting further fluid recovery for stabilised rates\n· Elected to participate in two additional CT wells\n· Proceeds from final Richfield payment and recently increased borrowing base used for further investment in Chisholm Trail\n· Quixote Associates added to team to work on larger acquisitions\n \n \nMonthly Production (Net)\n \n\n\n\n\nMonth \n\n\nTotal Net* Production (BOE)\n\n\nRevenue\n(US$)\n\n\n\n\nJanuary \n\n\n2,125\n\n\n154,100\n\n\n\n\nFebruary\n\n\n1,960\n\n\n142,670\n\n\n\n\nMarch \n\n\n2,100\n\n\n150,800\n\n\n\n\nApril \n\n\n1,265\n\n\n86,130\n\n\n\n\nMay \n\n\n1,370\n\n\n101,300\n\n\n\n\nJune \n\n\n1,450\n\n\n107,735\n\n\n\n\n \n \n*Net to Nostra Terra's working interests, after royalties\n(NRIs range from 78% to 81%)\n \n \nQ1 2014 Operations Update\n \nChisholm Trail Prospect (Oklahoma)\n \nThe Company elected to participate in two additional wells (CT-16 and CT-17) in the Hunton Limestone formation, where the Company has experienced repeated drilling success. Nostra Terra has a 20% WI in the CT-16 well (Bollenbach 1-33H). The completion operations of the CT-15 (Curly 1-26H) resulted in a drop in...