Nostra Terra Oil & Gas Co PLC - Texas, US-focused oil and gas exploration and production company - Increases the borrowing base of its senior lending facility by 30% to USD4.4 million from USD3.4 million in March. Says the facility is provided by bank Washington Federal Inc. Says the interest rate also increases to 6.5% from 4.4%. Expects future net income to be USD34.4 million, up 6% from March.
"We're pleased to continue to deliver significant improvements in production, which have resulted in a further increase to the borrowing base of our senior lending facility. This provides us a lot of flexibility to grow from here using existing resources, without the need for dilution," says Chief Executive Officer Matt Lofgran.
Current stock price: 0.26 pence
12-month change: down 27%
By Greg Rosenvinge, Alliance News reporter
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Nostra Terra (NTOG)