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Resources analyst Charlie Long sees good times ahead for uranium Watch here

Resources analyst Charlie Long sees good times ahead for uranium


Nostra Terra Share Chat (NTOG)



Share Price: 1.925Bid: 1.85Ask: 2.00Change: 0.00 (0.00%)No Movement on Nostra Terra
Spread: 0.15Spread as %: 8.11%Open: 2.025High: 2.025Low: 1.925Yesterday’s Close: 1.925


Share Discussion for Nostra Terra


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okenia
Posts: 8,624
Off Topic
Opinion:No Opinion
Price:1.925
Passive or active stake in MAGP?
Sat 18:35
Do people think this 10% stake in MAGP will be just a passive investment for NTOG, or is it the start of something more "corporate" between the two companies? I can't help but feel there's more to this than just a desire to own some MAGP stock for its own sake.
 
okenia
Posts: 8,624
Off Topic
Opinion:No Opinion
Price:1.925
RE: Surprised
Sat 16:54
Acquisition of interest in Magnolia Petroleum plc
Fri, 26th May 2017 13:15
RNS Number : 4031G
Nostra Terra Oil & Gas Company PLC
26 May 2017

26 May 2017

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

Acquisition of interest in Magnolia Petroleum plc

Nostra Terra (AIM:NTOG), the oil and gas exploration and production company with a portfolio of assets in the USA and Egypt, announces that it has agreed today to acquire 204,226,748 ordinary shares of £0.001 each in Magnolia Petroleum plc ("Magnolia") (the "Magnolia Shares"), which represents a 10.9% interest in the ordinary share capital of Magnolia.

Magnolia is an AIM-quoted exploration & production company with assets in the mid-continent of the USA. Nostra Terra is making the investment as an alternative and additional way to increase its exposure to the oil and gas market in the USA.

Nostra Terra will acquire the Magnolia Shares for £125,000 consideration, equivalent to approximately 0.06 pence per Magnolia Share. As at close of business on 25 May 2017, the mid-market price of a Magnolia Share was 0.115 pence and accordingly, Nostra Terra is acquiring the interest in Magnolia at an approximate 47% discount to the prevailing price of a Magnolia Share.

The consideration for the Magnolia Shares will be payable as to £65,000 in cash and through the issue of 2,400,000 new ordinary shares of £0.001 each in Nostra Terra ("Ordinary Shares") (the "Consideration Shares"), at an implied issue price of 2.5 pence per share, which equates to a premium of 23% to the mid-market price of an Ordinary Share as at close of business on 25 May 2017.

The Magnolia Shares have been purchased from Steven Snead, the former CEO of Magnolia, and his family.

Nostra Terra also has the option to pay the full consideration in cash should it decide. The receipt of the Magnolia Shares and the issue of the Consideration Shares, should the Company not elect to settle the consideration fully in cash, is anticipated to take place on or before 30 June 2017. A further announcement will be made at that time. Until such point, it has been agreed that Nostra Terra has direction over the voting rights of the Magnolia Shares.

For the year ended 31 December 2015, Magnolia reported revenues of US$1,991,021 and a loss before tax of US$9,793,276. As at 30 June 2016, Magnolia reported net assets of US$6,534,072.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
okenia
Posts: 8,624
Off Topic
Opinion:No Opinion
Price:1.925
RE: Surprised
Sat 16:53
"Why did the latest RNS state Magnolia as the Party when Mr Sneed has resigned already ? it all looks a little foggy."

It's not foggy at all because the RNS doesn't say that. It's quite clear that this is a purchase of MAGP shares held by Snead and his family. Here is the relevant text from the RNS.

"The Magnolia Shares have been purchased from Steven Snead, the former CEO of Magnolia, and his family."

-------

"It is all a little mysterious so far. Will MAGP magic up 204,226,748 new ordinary shares or has a private sale (Mr Stephen Sneed ) delivered this opportunity to buy these shares @ .06p ."

It's not mysterious, the RNS states it's the second of those two options.

----

Here's the link to the RNS:

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=MAGP&ArticleCode=lcukdkdx&ArticleHeadline=Acquisition_of_interest_in_Magnolia_Petroleum_plc
INFINITYT
Posts: 299
Off Topic
Opinion:No Opinion
Price:1.925
Surprised
Sat 13:09
At no comments from long holders or watchers ? We will ? have 10.91% of another badly performed so far oiler.
They MAGP will own ? 2% of NTOG @ 2.5p.
It is all a little mysterious so far. Will MAGP magic up 204,226,748 new ordinary shares or has a private sale
(Mr Stephen Sneed ) delivered this opportunity to buy these shares @ .06p .
Mr Stephen Sneed was a Major Director with MAGP and resigned on the 1st of April 17.
" Magnolia Petroleum Plc, the AIM-quoted, US onshore-focused oil and gas exploration and production
company, announces that Steven Snead resigned from the Board with effect from 1 April 2017. The
Board accepted Mr Snead’s resignation and the parties agreed to waive any notice period by mutual
consent. "
http://magnoliapetroleum.com/wp-content/uploads/2017/04/MAGP-Board-Changes-03.04.17-Final.pdf

The other main Director of Magnolia Rita Whittington now CEO has said in the above April RNS.
" Rita Whittington, CEO of Magnolia, said, “Steve and I have worked together ever since Magnolia
was founded and I would like to publicly thank him for the contributions he has made with Magnolia.
The Board wishes him the very best for the future with his other business interests and we look forward
to his continued support as a shareholder of Magnolia. "

Now forgive me for the long post But ? Why did the latest RNS state Magnolia as the Party when Mr Sneed has resigned already ? it all looks a little foggy. MMMM ?
INFINITYT
Posts: 299
Off Topic
Opinion:No Opinion
Price:1.925
Just to say 2
Fri 18:16
I am looking forward to the partnership however that may run a new lease of life just maybe ?
NTOG on google finance down 98.28% since 2007
MAGP on google finance down 87% since 2012
A thought for any long termer's hanging on.
Best Luck all..
INFINITYT
Posts: 299
Off Topic
Opinion:No Opinion
Price:1.925
RE: MAGP RNS?
Fri 15:59
INFINITYT
Posts: 299
Off Topic
Opinion:No Opinion
Price:1.925
RE: MAGP RNS?
Fri 15:16
O we were notified it was sent to MAGP here on LSE RNS timed at 1315.. MMMM
Was hoping for a later RNS with additional reasonings.. Best Luck..
INFINITYT
Posts: 299
Off Topic
Opinion:No Opinion
Price:1.925
RE: MAGP RNS?
Fri 15:11
Nice price too buy some MAGP @ .06 as current around .1. also part paid in NTOG share issue @2.5p. for an added
2.4m Shares to the now small total.
Good Business in my opinion although thought we would also have been notified.. Best Luck all.
Tony45
Posts: 114
Off Topic
Opinion:No Opinion
Price:2.025
RE: Really good news for NTOG
Fri 07:25
Dont get carried away, the sp will not shift much more between now and December.
Matt lofgrunt has spent more time in court in dispute with other operators, than he has actually drilling his own wells, which by the way, is a big fat zero wells in 8 years of being CEO.
Not matter what he gets involved in, you can garuntee there will be a dispute somewhere down the line.
Look at the ******* mess he has got ntog into over the Egypt JV.. Its bloody disgraceful...




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