Nostra Terra, the AIM quoted oil and gas producer, with a growing portfolio of horizontal and vertical drilling projects in the USA, is pleased to announce that drilling has begun on the second development well in the Verde Prospect, located in Colorado.
This is the second well in the prospect where the first well reached payout in 9-months. The development well will be drilled to a depth of approximately 5300 feet. Drilling of the well is expected to take approximately 30-days followed by completion and initial production testing.
Nostra Terra owns a 16.25% working interest in this program of development wells. The prospect is operated by Plainsmen Partners LLC and covers approximately 636 net acres in south-eastern Colorado.
Matt Lofgran, Chief Executive Officer of Nostra Terra, commented:
“Our initial well has already reached payout and continues to be a good producer. We’re pleased to be drilling the second well in the prospect where we anticipate similar results. Each of our projects has been chosen because each offers further locations for subsequent, lowered-risk development wells. This should add to our growing portfolio of producing wells.”