What does todays RNS (Foretold by the Blog) tell share-holders? It’s looking increasingly rosy for Nostra Terra as Lofgran sets about increasing the asset base with yet another significant investment in Oklahoma having negotiated a 10% stake for a measly development share budget of US$192,680. It’s surely only a question of time before the sp begins to react positively. Given the totality of the present assets now in the Nostra portfolio the bopd looks set to rocket this year we could eventually see a 1000bopd net to the company in 2012. With all the assets, cash at hand that Nostra now have they look well positioned to be one of the brighter stars in 2012.
This latest asset “The Warrior Prospect” lies within a prolific oil system, proven to produce from multiple, stacked-pay reservoirs. Leasing, pooling and permitting of the initial well are already complete. Drilling of the initial horizontal well is anticipated to begin during the first half of 2012, along with construction of all production and transmission facilities. Up to five additional horizontal wells may be drilled on the prospect in the future and tie into the infrastructure that is being installed for the initial well. Nostra’s presence in Oaklahoma isn’t going unnoticed in the state and is beginning to raise eyebrows among the smaller private operators who maybe seeking tie-ins in the future. Expect to see more asset buy-ins this year.