Nostra Terra completes drilling at Permian Basin project

Hydrocarbon resources group Nostra Terra Oil and Gas has successfully completed drilling at its Twin Well site in the Permian Basin, putting the project into production immediately.

The Texan well was completed in the Clear Fork formation of the basin, using what the group said was a "common stimulation procedure" for projects of the type.

Matt Lofgran, chief executive officer of Nostra Terra, said, "We've taken the time to complete the tank battery to facilitate the well going into immediate production and pay status. Drilling and completion has gone according to plan and we now look forward to updating the market with production rates and progress in planning our next drills."

As of 1120 GMT, shares had gained 0.37% to 4.37p.