Nostra Terra Oil and Gas Company Plc provided an update on the field allowable rules petition governing production at its Fouke Wells. Further to the announcement on 20 April 2023, where the Operator (Cypress Production Inc) requested a permanent increase in the allowable field rate from 82 bopd per well to 126 bopd per well, the final order approving the proposed change has been approved. The final order approved the proposed amendment, increasing the production limit to 126 bopd per Well.

Furthermore, it cancels all accrued overproduction that has taken place since start-up. Hence the Company will not have to bear any consequences for the overproduction to date. The Fouke 1 and Fouke 2 wells (NTOG 33% working interest) are currently producing 88 and 91 bopd, respectively, both still above the original field limit.

Cumulative production for the Fouke 1 (which commenced production January 2021) is 76,634 barrels of oil, and Fouke 2 (commenced production May 2022) is 56,294 barrels of oil. To identify additional Fouke-like locations, the Company is undertaking further geological and geophysical work on the rest of the Pine Mills acreage, where it owns a 100% working interest.