Nostra Terra signs deal for second Verde well
Nostra Terra, the AIM quoted oil and gas producer, said it had signed an agreement with the operators at its Verde prospect in Colorado to drill a second development well.
Nostra Terra, the AIM quoted oil and gas producer, said it had signed an agreement with the operators at its Verde prospect in Colorado to drill a second development well.
The second well is currently being permitted, the firm said, with drilling expected to begin around the end of September.
The Verde Prospect, in which Nostra Terra has a 16.25% interest, is operated by Plainsmen Partners.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"I'm delighted by the performance of our first Verde discovery well which exceeded our initial expectations, producing just over $1m gross in nine months," said Nostra's Chief Executive Matt Lofgran.
"This should add to our growing portfolio of producing wells," he added.
The firm's shares rose 7% as investors were cheered by the news.
Nostra said its full year revenues of £244,000, announced in May, were expected to strongly improve in 2012.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
8 of the best riverside properties for sale
The best riverside properties for sale – from a Grade II-listed former mill house with views over the River Chelmer in Essex, to a townhouse on a Georgian terrace overlooking the Avon Gorge in Clifton, Bristol
-
Will “Liberation Day” strike again?
Donald Trump’s 90-day tariff pause comes to an end on 9 July. Can we expect further market turmoil?