NTOG has cash £10M cash ready to be (Mcap £2.6m)27 Jan 2022 10:09
£10M Facility at 4.4%
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29 September 2021
Nostra Terra Oil and Gas Company Plc
("Nostra Terra" or "the Company")
$10 Million Senior Facility
and
Substantial Reserves Upgrade
Nostra Terra (AIM: NTOG), the oil & gas exploration and production company with a portfolio of development and production assets in Texas, USA, is pleased to announce both the renewal of its Senior Lending Facility ("Senior Facility" or "Facility") resulting in a significant increase in Facility size and available Borrowing Base and a substantial upgrade in Reserves.
Highlights
Senior Facility
· Increased Facility size to $10,000,000 (from $5,000,000), a 100% increase
· Increase Borrowing Base to $2,350,000 (from $1,550,000), a 52% increase
· 4.40% interest rate