Nostra Terra Oil & Gas CEO details significant production boost and cost cuts at Pine Mills

Proactive - Interviews for investors

Nostra Terra Oil and Gas Company PLC (AIM:NTOG, OTC:NTOGF) CEO Paul Welch takes Proactive's Stephen Gunnion through a production and operations update. Welch shared that the company focused its strategy on Pine Mills, leading to significant gains. Over three summer months, Nostra Terra reduced operating costs by 25%, increased field production by 30 barrels a day at the Pine Mills field (a 60% jump), and raised profit per barrel by 50%. Welch explained that these initiatives made Nostra Terra profitable at both the operational and corporate levels. He noted, “Adding 30 barrels a day at the current netback increased our annual revenue by half a million dollars.” Additionally, Welch highlighted the company’s work on reinitiating a water flood project at Pine Mills, expected to yield another 15 to 30 barrels per day after a three-month buildup. Welch also mentioned future growth potential from wells in the Fouke area, which could add significant revenue, and plans to continue optimising operations as 2024 ends. Visit Proactive's YouTube channel for more updates. Don't forget to like, subscribe, and turn on notifications for future content. #NostraTerra #OilAndGas #EnergyUpdate #PaulWelch #ProductionGrowth #PineMills #EnergyInvesting #OilProfit #BusinessStrategy #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews