Company Information for Nostra Terra Oil & Gas Company PLC

Company stock charts - 6 Month chart

AIM; NTOG View full financial data

Company Statement

Ukrainian Operating Environment
The License Area is located on the Crimean Peninsula of Ukraine which occupies a strategic position at the crossroads between Europe and Asia and in land area is the second-largest country in Europe. The Tarkhankut Peninsula is located on the northwest reaches of the greater Crimea Peninsula.

Nostra Terra Oil & Gas was admitted to London’s AIM market in July 2007. The Company’s principal business is the re-opening of the Oktyabroskoe oilfield located in the northwest corner of the Crimean peninsula.

Business Strategy of the Enlarged Group
NTOL's strategy has always been to become one of the leading independent oil and gas exploration and production companies operating in Ukrain and with potential to operate in other strategic locations in the future. It is the intention of the Enlarged Group to apply the same strategy to its operations.

Opportunities for the Enlarged Group
Initially, the Enlarged Group will focus on developing the Wells in the License Area and improving its seismic information so as to be able to upgrade its Reserves as well as to take advantage of "in-fill drilling" opportunities.

The Directors and the Proposed Directors believe that NTOL has developed a strong working relationship with Krymgeologia. As the Enlarged Group invests in the reopening of Wells, the Directors and the Proposed Directors believe that the Enlarged Group will be in a good position to apply for further license opportunities in the Crimea as well as within the rest of Ukraine.

Operations and Technology

The Oktyabroskoe field is 154 sq kms in size and contains three reservoir horizons - the Necomian, the Cenomanian, and the Albion. The license area has 36 wells which were drilled between 1960 and 1991. 

The Company has one producing well. Well #1 goes to a depth of 2,700 metres and produces oil from the Necomian reservoir. Well #1 is currently free flowing at approximately 13 barrels per day. This well is a good candidate for lifting equipment and the Company believes it will be possible to increase production from this well. 

Subsequent to the completion of the Competent Persons Report, the Company has successfully re-opened Well #24 in the Cenomanian reservoir at an approximate depth of 1,750 metres. Initial tests indicate a promising rate of production and the well is forecast to be in production in May 2007. The Company’s expectation is that it will meet and probably exceed its planed production target of 60 barrels per day. 

Reopening preparation is well advanced on Well #10 and removal of the cement bridge plugs should begin in June 2007. Well # 50 will be reopened shortly thereafter and Well #10, both in the Cenomanian reservoir, will be opened shortly thereafter. Both target wells sit on the same geology and are a few hundred metres apart. The Company believes all of the Wells #10, #24,and #50 should have similar production levels. 

The Company will open two wells in West Oktyabroskoe which penetrate the Albion reservoir. Wells #31 and #9 will be twinned. Well #31 will produce NGL containing significant amounts of gas and this gas will be pumped down well #31 to maintain reservoir pressure. Records indicate that #31 has the potential to produce in excess of 150 barrels per day. 

The Company believes that 10-14 wells can be successfully reopened on the Oktyabroskoe license each producing an average of about 100 barrels per day.

Board of Directors and Key Management

Major Shareholders

Most Recent Statement