Nostrum Oil & Gas PLC provided an update on its well No.301 re-entry drilling operations, the first of a two well re-entry drilling programme at its Chinarevskoye field to be completed in 2024. The well No.301, reaching a total depth of 4,980 meters, has been drilled on time and on budget and is awaiting completion operations with start-up expected mid-2024. It had multiple in-fill targets across the Carboniferous and Devonian age reservoirs.

Hydrocarbons (oil, gas-condensate) have been encountered across 3 key intervals. The results are in line with the Company's expectations of initial well rates of 400 to 700 boepd. The drilling rig will now move to the next well, No.41, with expected spud mid-April and start-up in Third Quarter 2024.