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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 | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0025 | -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 |
TIDMNTOG
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.
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(END) Dow Jones Newswires
February 05, 2020 02:00 ET (07:00 GMT)
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