The Company has a 30% working interest in the Bale Creek prospect, operated by Pathfinder Development Capital, LLC ("Pathfinder").
The well is the first of seven potential horizontal well locations. Drilling of the well is expected to be completed in approximately 30-days, followed by completion and initial production testing.
Matt Lofgran, Chief Executive Officer of Nostra Terra, commented:
"With the first horizontal well on Bale Creek underway and quickly following on from the news from Warrior, we have two horizontal wells being drilled at the same time. We're happy to have the increasing amount of activity which we expect will translate into shareholder value."
Alden McCall, Chief Operating Officer of Nostra Terra, added:
"The working interest partners have identified what we believe to be the most prospective of several potential objective horizons. The specialized sonic log has been integrated with our 3D seismic and we are now drilling, with the aim of completing the first of several horizontal wells with Pathfinder. We anticipate that the horizontal drilling will cut up to 3500 feet of highly prospective reservoir rock. Completion of the well will follow very shortly and then we will go into production testing.
Nostra Terra will make further announcements as the operations progress.
This article is for information and discussion purposes only and does not form a recommendation
to invest or otherwise. The value of an investment may fall. The investments referred to in this
article may not be suitable for all investors, and if in doubt, an investor should seek advice from
a qualified investment adviser. More