Nostra Terra well in Oklahoma exceeds expectations

18th Jul 2013 10:39

Nostra Terra's shares rose after saying its fifth horizontal well in the Chisholm Trail Prospect, Oklahoma, has exceeded expectations. The AIM listed oil and gas producer said the well achieved an average of 448 barrels of oil equivalent per day (boepd) in the past 10 days of production. The group added that new well permitting continues in the Chisholm Trail Prospect area. Matt Lofgran, Chief Executive Officer of Nostra Terra, said: "The Chisholm Trail prospect continues to deliver, adding another 10 barrels per day to our aggregate production. The relatively shallow decline curve so far on the Chisholm Trail prospect continues and we see no reason to think this latest well will perform otherwise."Shares climbed 1.23% to 0.41p at 10:52 on Thursday.RD