Nostrum Oil & Gas Plc releases updates on testing of Well 41

  • Nostrum Oil & Gas Plc (NOG) has released updates on the testing of Well 41 and recent licence extensions.
  • The company will have to consider if there are alternative approaches it can take to perforate other reservoirs, as following extensive testing on Well 41 in the Frasnian reservoir it has so far not been able to sustain a commercial flow of hydrocarbons from the well.
  • In separate developments, the company has received a three-year extension of the Rostoshinskoye field subsoil use contract for appraisal activity and an extension of the mining permit for the Chinarevskoye field to include the northern area of the field.
  • On 11th October 2019, at the time of writing, GMT 08:12 AM, NOG shares were trading at GBX 8.00, down by 2.50 points or 23.81% against the previous day closing price.