19th Sep 2013 12:04
LONDON (Alliance News) - Nostra Terra Oil and Gas company PLC Thursday said its third well at Verde has reached total depth and completion operations are now underway at the site.
The US-based oil-and-gas development-and-production company said its Verde Prospect in Colorado reached its total depth and, after positive results, the company will run a production pipe into the hole and complete the well in the coming weeks.
Nostra Terra shares were down 1.5% to 0.394 pence midday Thursday.
The company recently said it had received USD1.3 million from Richfield Oil & Gas, ending an ongoing dispute over unpaid debts with the company.
A hearing is scheduled for October 1 to determine any additional sums owed to Nostra Terra, including attorneys' fees, costs of collection, and reimbursement for operating expenses incurred by Nostra Terra.
By Tom McIvor; [email protected]; @TomMcIvor1
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