Nostra Terra cheers investors with Colorado drilling

1st Aug 2011 16:12

Nostra Terra Oil and Gas Company said it had begun drilling on it's initial well in the Verde prospect in south-eastern Colorado. Drilling of the well is expected to be completed by the end of August, the firm said, dependent on operations and possible formation tests. Drilling at the Verde prospect, in which the company has a 16% interest, will be followed by completion and initial production testing. Nostra Terra said it would make further announcements as the operations progress.The company's shares rose 5% on the news, back to the 0.6p level at which the firm raised £2m at the start of July.