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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
24th May 20137:00 amRNSInitial $200,000 Received from Judgement
9th May 20137:00 amRNSAdditional Interest At High Plains Prospect
1st May 201311:12 amRNSExpansion of Chisholm Trail Prospect
1st May 201310:36 amRNSChisholm trail Area Increased by over 45%
12th Apr 20137:00 amRNSFifth Chisholm Well Spud
26th Mar 20132:30 pmRNSNTOG Joins Industry Study
13th Mar 20137:00 amRNSTexas Acquisition
4th Mar 20137:00 amRNS$1.5m to be Awarded to Nostra Terra
25th Feb 20137:00 amRNSBreak Even Surpassed
15th Feb 20137:00 amRNSAppointment of Co Broker
13th Feb 201311:00 amRNSFourth Chisholm Well Beat Expectations
5th Feb 20139:08 amRNSRichfield (Hewitt) Update
28th Jan 20137:00 amRNSDrilling Report
23rd Jan 20133:57 pmRNSProactive Presentation
8th Jan 20137:00 amRNSProduction Starts at Chisholm Trail 3 & 4
11th Dec 20127:00 amRNSSecond Chisholm Well Production Exceeds First Well
27th Nov 20127:00 amRNSChisholm Trail Well Exceeds Expectations
12th Nov 20127:00 amRNSFirst Chisholm Trail Well Producing
1st Nov 20127:00 amRNSBale Creek Drilling Update
29th Oct 20127:00 amRNSFourth Well Spud at Chisholm Trail
25th Oct 201211:30 amRNSChisholm Trail 3rd Well Spudded
23rd Oct 201211:30 amRNSOperational Update
28th Sep 20124:43 pmRNSTotal Voting Rights
28th Sep 201210:56 amRNSHalf Yearly Report - Replacement
28th Sep 20127:00 amRNSHalf Yearly Report
27th Sep 20127:00 amRNSIssue of Equity
17th Sep 20127:00 amRNSSecond well spud at Verde
14th Sep 201211:00 amRNSEdinburgh Presentation
10th Sep 20127:00 amRNSFirst Well Spudded at Chisholm
6th Sep 201210:00 amRNSPlacing
29th Aug 20127:00 amRNSOklahoma drill-ready acquisition & Update
20th Jul 20127:00 amRNSGrant of Performance Related Options
29th Jun 201212:52 pmRNSExercise of Directors Warrants and Associated Loan
28th Jun 20127:00 amRNSResult of AGM
27th Jun 20127:00 amRNSVerde Project Update
12th Jun 20127:00 amRNSOklahoma operations update
1st Jun 20128:28 amRNSPosting of Report & Accounts and Notice of AGM
29th May 20123:50 pmRNSFinal results for the year ended 31 December 2011
17th May 20127:00 amRNSOklahoma operations update
11th May 20127:00 amRNSAdditional Finance Secured
16th Apr 20127:00 amRNSBale Creek Drilling Plan Accelerated
28th Mar 20127:00 amRNSBale Creek - First Horizontal Well Spudded
21st Mar 20127:00 amRNSWarrior - Horizontal Well Spudded
19th Mar 20127:50 amRNSBale Creek -Pilot Well Drilling & Logging Complete
20th Feb 20127:00 amRNSBale Creek pilot well spud
1st Feb 20127:00 amRNSHewitt Petroleum Update
25th Jan 20125:16 pmRNSGrant of Share Options and Directors' Dealings
6th Jan 20127:00 amRNSFurther re Agreement with Hewitt Petroleum, Inc.
3rd Jan 20122:15 pmRNSSecond Acquisition of Interests
20th Dec 20112:42 pmRNSIssue of Equity

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