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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Nostra Terra Oil And Gas Company Plc | LSE:NTOG | London | Ordinary Share | GB00BZ76F335 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.1025 | 0.10 | 0.105 | 0.1025 | 0.1025 | 0.1025 | 80,043 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investors, Nec | 4.02M | -546k | -0.0007 | -1.43 | 746.52k |
TIDMNTOG
RNS Number : 5172H
Nostra Terra Oil & Gas Company PLC
18 August 2016
The headline for the Nostra Terra Oil & Gas Company PLC announcement released on 18/08/2016 at 07:00 under RNS No 5163H should read Completion of $2.1m sale of Chisholm Trail.
The announcement text is unchanged and is reproduced in full below.
18 August 2016
Nostra Terra Oil and Gas Company plc
("Nostra Terra" or the "Company")
Completion of $2.1 million sale of Chisholm Trail Interest
Further to the recent announcements by the Company concerning the sale of its interest in the Chisholm Trail Prospect ("the Sale"), the Board is pleased to announce the US$2.1 million Sale has completed successfully.
The purchaser of Nostra Terra's interest in the Chisholm Trail Prospect is Staghorn Petroleum LLC. Nostra Terra was unable to announce this fact prior to completion of the Sale as it was bound by commercial confidentiality, which has now been lifted.
Nostra Terra intends to deploy the net proceeds from the Sale to accelerate its growth plans and for general working capital purposes. Nostra Terra continues to evaluate a number of opportunities across different geographic regions, particularly North America and Egypt.
Future operations reporting
As part of Nostra Terra's cost cutting initiative and wider rationalization of the business, the Board has decided to extend the suspension of quarterly operations reports. The previous quarterly reporting policy was at the Board's discretion and is not required pursuant to the AIM Rules. The Board feel that management time is better directed towards evaluating and securing new assets for Nostra Terra, as it continues to implement its growth strategy and deliver shareholder value over the medium term. The Company will continue to report on operations and accounts in the Annual and Interims per standard reporting requirements.
Matt Lofgran, Chief Executive Officer of Nostra Terra, commented:
"We are extremely pleased to have completed the sale of our interest in the Chisholm Trail Prospect to Staghorn Petroleum. This sale comes at an important time for Nostra Terra. The proceeds from the sale allow the Board to advance its plans for introducing new assets to the portfolio with larger working interests. We look forward to updating shareholders in the near future."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information, visit www.ntog.co.uk or contact:
Nostra Terra Oil and Gas Company plc Matt Lofgran, CEO +1 480 993 8933 Strand Hanson Limited (Nominated & Financial Adviser +44 (0) 20 7409 and Joint Broker) 3494 Rory Murphy / Ritchie Balmer Vicarage Capital Limited (Joint +44 (0) 20 3651 Broker) 2910 Rupert Williams / Jeremy Woodgate Cornhill Capital Ltd (Joint +44 (0) 20 7710 Broker) 9610 Nick Bealer / Colin Rowbury +44 (0) 20 7933 Walbrook PR (Financial PR) 8797 Gary Middleton / Nick Rome
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUWANRNKAWARR
(END) Dow Jones Newswires
August 18, 2016 02:28 ET (06:28 GMT)
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