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Pin to quick picksNostra Terra Regulatory News (NTOG)

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AGM Statement

28 Jun 2013 07:00

RNS Number : 0775I
Nostra Terra Oil & Gas Company PLC
28 June 2013
 



Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

 

Annual General Meeting Statement

 

Nostra Terra, the AIM quoted oil and gas producer with a growing portfolio of horizontal and vertical drilling projects in the USA, announces that at the Annual General Meeting of the Company, to be held at 11.00 a.m. this morning, the Chief Executive, Matt Lofgran, will make the following comments:

 

"Last year we devoted management time and funds raised by the Company in building up our portfolio of assets, this is now bearing fruit. We had a terrific start to 2013 with better than expected production at Chisholm Trail enabling the Company to surpass the important milestone of break even on an operational basis. Progress continues at Chisholm Trail with additional wells being permitted, drilled, and additional leasing taking place. The Board considers our investment in Chisholm Trail to have been a great success and we look forward to this prospect producing further returns in the years ahead."

 

"A combination of initial findings and an increase in activity by other companies in the area, led us to increase our working interest in the Texas based High Plains prospect from an initial 5% to 6.5% and then 20%. Unlike with the Chisholm Trail prospect in Oklahoma, Texas' regulatory framework does not facilitate forced pooling, meaning the Company's working interest will constantly be 20%."

 

"On 1 February 2012, Nostra Terra began foreclosing on the secured loan note issued to the Company by Richfield Oil & Gas Company. We were pleased that the court awarded Nostra Terra a judgement against Richfield in excess of $1,500,000. Initial collection has begun, with $200,000 already received, and we will continue to aggressively pursue collection of the remainder of the judgement."

 

"We have achieved a lot in the past few months, including raising £750,000, that will be invested in the drilling of further wells at Chisholm Trail and leasing in the High Plains Prospect. Production has been increasing and we have a good portfolio of producing assets which we expect to expand rapidly this year."

 

"I would like to thank our shareholders for all their support and look forward to rewarding them with further good news as the year moves on."

 

 

For further information, visit www.ntog.co.uk or contact:

Nostra Terra Oil and Gas Company plc

Matt Lofgran, CEO

mlofgran@ntog.co.uk Telephone: +1 480 993 8933

Shore Capital & Corporate Limited

(Nominated Adviser)

Bidhi Bhoma / Toby Gibbs Telephone: +44 (0)20 7408 4090

XCAP Securities plc (Joint Broker)

Jon Belliss / Halimah Hussain Telephone: +44 (0)20 7101 7070

Lothbury Financial Services Limited

Gary Middleton / Michael Padley Telephone: +44 (0)20 3440 7621

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
AGMNKODQCBKDBAB
Date   Source Headline
29th Jun 20167:00 amRNS$2.1m Sale of Chisholm Trail Interest
24th Jun 20164:05 pmRNSStatement re Market Speculation
21st Jun 20167:00 amRNSEast Ghazalat Update
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8th Jun 20167:30 amRNSNotice of AGM
1st Jun 201610:30 amRNSUpdate on Permian Acquisition
31st May 20163:22 pmRNSResult of General Meeting
23rd May 20162:47 pmRNSHolding(s) in Company
12th May 201612:16 pmRNSCapital Reorganisation
10th May 20161:36 pmRNSEast Ghazalat Update
3rd May 201610:03 amRNSPermian Basin Acquisition Update
5th Apr 20167:00 amRNSProposed Acquisition Extension
1st Apr 20164:24 pmRNSProposed Permian Basin Acquisition Update
15th Mar 20167:00 amRNSNominated Adviser Appointment
14th Mar 201610:03 amRNSNomad Resignation
4th Mar 20167:00 amRNSIssue of Equity
26th Feb 201611:03 amRNSPaw Paw Prospect Update
22nd Feb 20167:00 amRNSAcquisition in Permian Basin
25th Jan 20162:00 pmRNSUpdate re East Ghazalat Concession
20th Jan 20167:00 amRNSOperations Update
22nd Dec 20157:00 amRNSExtension of $25m Credit Facility
3rd Dec 20157:00 amRNSWyoming Prospect Update
23rd Nov 20157:00 amRNSQ3 Production Update
2nd Nov 20153:37 pmRNSDirectorate Change
15th Oct 20157:00 amRNSAcquisition Completion
6th Oct 20157:00 amRNSAcquisition of producing assets in Egypt
30th Sep 20157:00 amRNSInterim Results
21st Sep 20157:00 amRNSJoint Venture Agreement in North Africa
21st Sep 20157:00 amRNSRe Joint Venture
21st Aug 20157:00 amRNSQ2 Production Update
3rd Aug 20157:00 amRNSDirector/PDMR Shareholding
30th Jul 20157:01 amRNSFirst South Texas Wells In Production
9th Jul 20157:00 amRNSAgreement To Operate New Wyoming Prospect
24th Jun 20157:00 amRNSDirectorate Change
23rd Jun 20159:51 amRNSResult of AGM
29th May 20157:00 amRNSFinal Results
18th May 20157:00 amRNSAcquisition of Interest in 35,000 Acres
1st May 20157:00 amRNSQ1 Production Update
27th Apr 20157:00 amRNSBegins Expansion in South Texas
7th Apr 20158:00 amRNSNostra Terra Exhibiting at UK Investor Show
31st Mar 20157:00 amRNSChange of Adviser
4th Feb 20157:00 amRNSQ4 Production Update
9th Dec 20147:00 amRNSRecord Production from Chisholm Trail
18th Nov 20147:00 amRNSFurther Production Added at Chisholm Trail
30th Oct 20147:10 amRNSGrant of Options
30th Oct 20147:00 amRNSQ3 Operation Update
23rd Oct 20149:30 amRNSAdditional Chisholm Trail Well Spud
16th Oct 20147:00 amRNSProduction Added at Chisholm Trail
30th Sep 20147:00 amRNSInterim Results
24th Sep 20147:00 amRNS£1.75m Placing To Advance Portfolio

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