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Vintage Hills Well Successful - Replacement
Vintage Hills Well Successful - Replacement.
About this update from Buccaneer Energy Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 3615C Nostra Terra Oil & Gas Company PLC 04 March 2011 \n \n\nNostra Terra Oil and Gas Company plc\n \n(\"Nostra Terra\" or the \"Company\")\n \nVintage Hills Well Successful - Replacement\n \n4 March 2011\n \nThe following replaces the 'Vintage Hills Well Successful' announcement released today at 09:30 a.m. under RNS number 3466C. As previously released the announcement contained a typographical error in relation to the citation of the units of the initial flow rates from the Agnello #1 well. The range in production from the 3-days of testing on the Agnello #1 well, previously stated as 'barrels of oil equivalent', is provided in barrels of oil equivalent per day ('boepd'). The remainder of the announcement is unchanged. The full amended text is shown below.\n \nNostra Terra Oil and Gas Company plc (AIM: NTOG) is pleased to announce the results of the Agnello #1 horizontal well in the Vintage Hills prospect unit. The Company has a 1.2% working interest (WI) before payout (BPO) (1.0% after payout (APO) in Vintage Hills, which is located within the established Giddings oil and gas field in Brazos County, Texas. \n \nInitial flow tests from the target Austin Chalk formation, taken in 1-hour intervals, started on 26 February 2011. During the 3-days of testing the range in production was from 402 barrels of oil equivalent* per day ('boepd') to 139 boepd. \n \nFlow tests confirm a well's producibility and provide some indication, though not definitive, of its likely production performance. Austin Chalk wells typically deliver rapid payout while having relatively steep decline curves, and Nostra Terra will provide an update on the well's ongoing productivity in due course.\n \nThe Agnello #1 well, operated by New Century Exploration, Inc., was drilled to a vertical depth of 10,400 feet followed by a horizontal section extending approximately 4,000 feet into the one of the Austin Chalk zones. Further lateral sections may be drilled in future into the other Austin Chalk zones, which are also known to be oil-bearing. , Additional pay zones have been logged from previous drilling within the Vintage Hills unit in the deeper Eagle Ford Shale, Buda and Georgetown formations.\n \nThis Vintage Hills prospect is Nostra Terra's second participat...