The Company has embarked on a major workover and development programme at its principal producing asset at Pine Mills. It has successfully delivered on the 1st phase of the workover programme during September and October 2024 which increased oil production by 30 bopd above that in August 2024. Net proceeds from this Fundraise will be used to accelerate the planned 2nd phase workover programme on 4 additional wells to deliver further potential significant increases in production and cash flow in the near term.
Nostra Terra Oil & Gas Co PLC, up 18% at 0.025p, 12-month range 0.021p-0.1725p. City broker Peel Hunt LLP has a 10.08% stake in the Texas, US-focused oil producer as of Monday, up from none reported previously.