Nostra Terra Oil And Gas Share Discussion Threads

[chinese investor] 06/10/2015 08:36

Good Find !

[whoppy] 06/10/2015 08:34

This is the gas well result at North Dabaa 2X.


East Ghazalat, Arab Republic of Egypt (50% working interest)

The North Dabaa 2X well, an appraisal well to the initial North Dabaa 1X gas/condensate discovery that was drilled in 2013 (press release November 13, 2013), was drilled to a total depth of 14,237 feet and cased as a Jurassic gas condensate well. Based on open hole well logs and samples, the well encountered approximately 136 feet of gross interval in the Khatatba/Upper Safa formation with an estimated 36 feet of net pay. The Khatatba/Upper Safa formation was completed and flow tested using the drilling rig for a total duration of 64.5 hours. During this period, approximately 50.4 million cubic feet of gas ("MMcf") and 1,456 barrels ("Bbl") of 57° API condensate were recovered on choke sizes varying from 24/64 inch to 64/64 inch and corresponding wellhead drawdowns of 9% to 69%. This represents average rates during the entire flow test of 18.7 million cubic feet of gas per day ("MMcfd") and 542 barrels per day ("Bpd") of condensate. An extended flow period of 35.5 hours was performed on a 64/64 inch choke during the test resulting in rates of 21.3 MMcfd of gas and 551 Bpd of condensate. Shut-in periods were conducted during the test, however a detailed well test analysis has not been performed. The test results should be considered as preliminary and are not necessarily indicative of long-term performance. The well is currently shut-in for an extended build-up period. The results of North Dabaa 2X will be fully evaluated along with the prior North Dabaa 1X test to determine the extent of the discovery.

Following North Dabaa 2x, the drilling rig is scheduled to move to the Safwa development lease to drill a Safwa horizontal development well.

[chinese investor] 06/10/2015 08:32

"Current gross production from East Ghazalat is approximately 880 barrels of oil per day (bopd), based on average June 2015 production levels (440 bopd net to JVCO)."

[whoppy] 06/10/2015 08:25

Seems like a good deal. Trebling production, no dilution, further acquisitions.

The sound of the two gas wells producing looks interesting.

The concession also includes two gas discoveries announced by Transglobe on 28 August 2013 and 3 September 2014 in North Dabaa 1X and North Dabaa 2X respectively. North Dabaa 1X tested at an average rate of 16 million cubic feet per day (MMCFD) and 1,620 barrels per day of condensate. North Dabaa 2X tested at 18.7 MMCFD and 542 barrels per day of condensate. No reserves have been attributed for these discoveries.

I wonder what the reserves are. Those are quite high production figures and it sounds like they could have made a material discovery there. They have 50% and that field could have reserves of 10-20MMBO.

[chinese investor] 06/10/2015 08:02

Good Start !

[oilbuy] 06/10/2015 07:20

Could be the start of something positive

[cashandcard] 06/10/2015 00:05

Thanks tradingstock,


That link is actually to the telegraph:


"Finally, Nostra Terra closed flat despite chatter in the City it is set to announce its first acquisition outside the US shortly"




Cash

[andy] 03/10/2015 09:47

I see the promotional push has started....................

Just the placing to come now.......

[jeffcranbounre] 02/10/2015 22:10

Matt from Nostra Terra #NTOG is on Monday's ADVFN podcast. If you'd like to submit a question please click here>

[nick rubens] 25/9/2015 14:23

A placing looks so likely now they intend to form this new venture with IRG. I think that will be the PR push when preparing the placing pitch. It will be discounted of course as a further incentive.

[andy] 22/9/2015 15:45

Yes that sort of thing.

LIke the old Canadian mining company method of having something a new project to try and excite investors and get the next financing away.

[pdtrussell] 21/9/2015 23:39

You mean like an 'Placing to Advance North African Assets' type deal - nearly a year since the last placing to advance the Big Horn asset in Wyoming.

[bam bam rubble] 21/9/2015 22:16

IRG probably has £0.2m left so will need to place in Q4. NTOG probably has £0.4m
left but it also has £0.7m debt repayable in 4 months so not much headroom there
NTOG will also need a placing by year end. That mutual need to raise new capital
explains this venture - placing fodder to help brokers sell the story to clients.

They could always raise funds by offering a honking old discount, like at 0.05p,
but by hanging a fundraising on some new venture there's a chance they could get
it away at say 0.075. It's all about keeping the listing going for one more year
and making sure the placings are regular enough to maintain directors lifestyles.

[pdtrussell] 21/9/2015 21:27

IRG has little cash. Look at their Final Results statement (Cash at 24 June 2015 of £0.46 million)

I guess they know the area, NTOG has a little cash - This whole business plan of acquiring assets and production for 'nothing/little', doing a little exploration, then farming them down sounds great if you can pull it off... no point spending money on the assets if no one is going to be interested in farming in.

Just a bit concerned we get these JV/Wyoming (big Horn) acquisitions just before the Interim results are issued; it is like NTOG is trying and deflect attention from the financial numbers... (all my conspiracy thoughts, definitely not true!)

[andy] 21/9/2015 19:02

cash,



I would like to hear the justification for this JV.

What is each side bringing to the table that the other needs?

[bam bam rubble] 21/9/2015 16:23

Anyone revising their H2 forecast after the announcement to move into Egypt?

NTOGs reported production 8 months to June 2015 (boe/day)
Nov-Dec 159
Jan-Feb 126
Mar-Apr 111
May-June 90

H2?
Jul-Aug: 68
Sep-Oct: 50
Nov-Dec: 44