Nostra Terra Oil and Gas Company PLC (AIM:NTOG) CEO Paul Welch talked with Proactive about the company's latest developments and strategic direction. Welch, who stepped up as CEO recently, shared insights into Nostra Terra’s focus on long-life conventional production in East Texas. Highlighting the primary asset, the Pine Mills Field, Welch discussed the potential to double production by revitalizing existing wells.
Welch also explained the company’s divestment strategy, selling off assets in South and West Texas to concentrate resources and investments in East Texas. This move aims to enhance profitability and streamline operations. He emphasized the critical role of newly appointed board member James Newman, whose extensive experience in rejuvenating mature assets aligns perfectly with Nostra Terra’s goals.
Welch noted the company sees the potential double production by turning on wells that have been shut in for some time. This strategic shift, along with updated company presentations and plans for future expansions, sets a promising trajectory for Nostra Terra.