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NTOG Nostra Terra Oil And Gas Company Plc

0.09
-0.0025 (-2.70%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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
  -0.0025 -2.70% 0.09 0.085 0.095 0.0925 0.09 0.0925 3,071,212 11:08:47
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Investors, Nec 4.02M -546k -0.0007 -1.29 671.87k

Nostra Terra Oil & Gas Company PLC Update: Requisitions to Convene a General Meeting (9792B)

05/02/2020 7:00am

UK Regulatory


Nostra Terra Oil And Gas (LSE:NTOG)
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RNS Number : 9792B

Nostra Terra Oil & Gas Company PLC

05 February 2020

5 February 2020

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

Update re: Requisitions to Convene a General Meeting

Further to the Company's announcements of 24 January 2020 and 3 February 2020, Nostra Terra announces that it intends to publish a circular, with accompanying notice of general meeting, in relation to the two requisitions, dated 15 January 2020 and 31 January 2020, received from Eridge Capital Limited ("Eridge"), (the "Requisitions") by no later than 12 February 2020.

The Board of Nostra Terra believes it is in the best interests of the Company and its shareholders as whole to consider the Requisitions at a single general meeting rather than to incur the costs and expenses associated with publishing two separate circulars.

In addition, the second Requisition was received along with a statement from Eridge in relation to the Requisitions for inclusion in the circular, notwithstanding that the second Requisition contained an additional resolution regarding the removal of Ewen Ainsworth from the Board. The Board believes that publishing a single circular to shareholders by 5 February 2020 to consider the Requisitions would not allow sufficient time for these additional items to be responded to by the Board. The Company recognises that this does not comply with the Companies Act 2006 and it will use all reasonable endeavours to publish the circular as soon as possible (in any event no later than 12 February).

Further announcements will be made in a due course.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014

For further information, contact:

 
 Nostra Terra Oil and Gas Company plc 
  Matt Lofgran, CEO                              Tel:      +1 480 993 8933 
 Strand Hanson Limited 
  (Nominated & Financial Adviser and Joint 
  Broker)                                                  +44 (0) 20 7409 
  Rory Murphy / Ritchie Balmer / Jack Botros     Tel:                 3494 
                                                           +44 (0) 207 186 
 Shard Capital Stockbrokers (Joint Broker)                            9952 
  Damon Heath / Erik Woolgar                     Tel: 
 
  Lionsgate Communications (Public Relations)              +44 (0) 203 697 
  Jonathan Charles                                Tel:                1209 
 
 

About Nostra Terra

Nostra Terra is seeking to increase oil production and reserves through both organic growth and strategic acquisitions, utilising the latest drilling and completion techniques.

Nostra Terra's core asset is a 100% working interest in the Mesquite asset located in the prolific Permian Basin, West Texas. The Mesquite asset covers 1,984 net acres with estimated proven recoverable reserves of 2.4mmbbls.

In addition, Nostra Terra has a 100% working interest in the well-established East Texas region, and interests in three additional Permian Basin properties in close proximity to Mesquite and is currently producing from two wells. The first well reached pay-out in less than one year.

The Permian Basin, which covers 75,000 square miles over West Texas and southeast New Mexico, is the most prolific oil producing basin in the country.

For further information, please visit our website: www.ntog.co.uk.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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(END) Dow Jones Newswires

February 05, 2020 02:00 ET (07:00 GMT)

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