31st Oct 2013 14:15
LONDON (Alliance News) - Nostra Terra Oil and Gas Company Thursday said it is increasing the pace of its development at the Chisholm Trail prospect in Oklahoma and Mississippi.
The AIM-listed oil and gas exploration and production company, which has varying interests in a range of sites, some of which it operates, said it has reached total depth in the company's first hydraulic fracturing test on the Mississippian area of the Chisholm Trail.
The company said drilling has began at its 2% owned Chisholm Trail 8 site and its 7.375% owned Chisholm trail 9 site.
Nostra Terra also said drilling at its Chisholm Trail 6 site have been delayed as the site has been combined with another larger leasehold to create a 1400 acre Mississippian drilling unit.
The ramp up in operations comes after Nostra Terra announced on October 29 that it expects production to increase 150% in 2013 after production improvements at two key wells.
Nostra Terra shares were down 3.9% to 0.370 pence Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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