While the oil & gas industry is well established in Egypt, further exploration success continues to take place. The number of oil and gas discoveries during the previous ten years reached 426 discoveries. (270 oil discoveries and 156 gas discoveries). (Reference: Al-Helal Al-Petroly, July 2010).
Nostra Terra's assets and operations are focused on low-risk exploration and developmental drilling in the onshore areas of the Western Desert in Egypt.
The East Ghazalat Concession (the "Concession") is located in the Western Desert region of Egypt, approximately 240 kilometres southwest of the city of Cairo in a platform region over the Sharib-Sheiba high which covers an area of approximately 626 square kilometres. Field facilities are located 130 km south, south west of El Alamein, a city located on the Mediterranean coast 106 km west of Alexandria.
The Concession is limited to the north by the southwestern extension of the Alamein Basin. The southern part of the concession is situated in the Abu Gharadig and Margin Basins, the former of which holds some of the greatest hydrocarbon potential in the Western Desert of Egypt.
The Concession is operated by North Petroleum, a subsidiary of Chinese state owned oil company, China ZhenHua Oil Co. Ltd. It consists of two development licences covering approximately 62 km2 awarded in July 2011 and February 2014. North Petroleum is the operator with a 50% interest, while Nostra Terra also has a 50% interest.