0.400 0.010

our us joint venture partner: hpi

A 2002 well log showing as many as 10 productive zones that were overlooked originally. (Click to view larger image)

Nostra Terra's US assets were acquired from or in conjunction with Hewitt Petroleum Inc (HPI), which retains an interest and serves as operator on the leases.

HPI is a privately-owned producing company incorporated in 2002 and headquartered in Utah. It specialises in identifying, acquiring and revitalising oil and gas fields that saw their production peak decades ago and are now abandoned or producing below their capacity. It has pioneered the use of innovative technology both to evaluate and to recover significant additional hydrocarbons from these old reservoirs at relatively low cost.

Over the last seven years, HPI has developed a proprietary information system that assimilates publicly available and commercial data on hundreds of thousands of wells drilled in the US mid-continent region since the 1920s. This comprehensive system enables HPI to identify and prioritise leases that offer further development potential, and allows the company's geologists to conduct research in hours that would have taken weeks or even months just a decade ago.

HPI has discovered substantial additional commercial reserves using this technology. It has also assembled an extensive data base of leases targeted for acquisition in the future, indicating that there is abundant potential for further value creation from the USA's historic oil and gas fields.

HPI currently has risk-weighted reserves of more than 70 million barrels of oil and 27 billion cubic feet of natural gas.

Utah Overthrust