Last checked at 22 Jun 2010 07:00
Nostra Terra Oil and Gas Company plc
("Nostra Terra" or the "Company")
Appointment of director and Issue of Options
22 June 2010
Nostra Terra Oil and Gas Company plc (AIM: NTOG) is pleased to announce that Alden McCall has been appointed Chief Operating Officer and a director of the Company with effect from 22 June 2010.
As Chief Operating Officer, Mr. McCall's immediate focus will be to lead the Company's expansion in the Texas Austin Chalk and other established carbonate and sandstone trends within the US, where Nostra Terra is targeting horizontal drilling opportunities.
Alden Branine McCall (59) has approximately 25 years' experience of project management, business development, capital acquisition and consulting in oil and gas exploration and new production technologies. Prior to joining Nostra Terra, he was Principal and General Manager of Dallas-based AMX Consulting Services, LLC, delivering technical and commercial expertise to both public and private companies engaged in conventional and unconventional petroleum exploration and production. Mr. McCall is a Certified Petroleum Geologist and is a member of the American Association of Petroleum Geologists, the Society of Petroleum Engineers, the Oklahoma Geological Society, the Fort Worth Geological Society and the Houston Geological Society.
Mr McCall has previously held the position of exploration manager or chief geologist at a number of US-based independent oil and gas companies, leading or coordinating exploration programs in Texas, Oklahoma, Kansas, Alaska and California, and also in Denmark, France and Australia. He has a BSc in Biology from Texas Christian University, an MSc in Geology from University of Texas, and an MBA from Thunderbird School of Global Management in Phoenix, Arizona.
In connection with Mr. McCall's appointment, the Company agreed to grant him with options to subscribe for a total of 40,000,000 new ordinary 0.1p shares in the Company ("Options") in three tranches. Tranche 1 of the Options is exercisable at a price of 0.52 pence per ordinary share and tranches 2 and 3 are exercisable at a price of 0.75 pence per ordinary share.
The vesting of tranches 2 and 3 remains subject to the satisfaction of relevant performance criteria prior to the vesting dates set out below:
| Tranche | Number of Options
| Vesting Date | Expiry Date |
| Tranche 1 | 10,000,000
| 21 June 2011 | 21 June 2015 |
| Tranche 2 | 10,000,000
| Before 22 December 2010 | 21 June 2015 |
| Tranche 3 | 20,000,000
| Before 1 January 2012 | 31 December 2015 |
Other than the Options described above, Mr McCall has no interest in the share capital of the Company, nor in any other related financial products. No further information is required to be disclosed in respect of Mr McCall pursuant to paragraph (g) of Schedule 2 to the AIM Rules.
Matt Lofgran, CEO of Nostra Terra, said: "I am delighted to welcome Alden to the Nostra Terra board. His geological expertise, excellent relationships within the upstream oil and gas industry, and proven ability to drive projects from early-stage to successful completion will be invaluable as we continue to grow Nostra Terra's resource base and profitability through targeted acquisitions, operational efficiency and enhanced recovery technologies."
A copy of an investor presentation Nostra Terra will be making at the Oilbarrel conference in London on 23 June 2010 will shortly be available on Nostra Terra's website (www.ntog.co.uk).
For further information, visit www.ntog.co.uk or contact:
Nostra Terra Oil and Gas Company plc Telephone: +1 480 993 8933
Matt Lofgran, CEO
mlofgran@ntog.co.uk
Religare Capital Markets Telephone: +44 (0)20 7444 0800
Peter Trevelyan-Clark/Ben Jeynes
Alexander David Securities Ltd Telephone: +44 (0)20 7448 9820
David Scott/Bill Sharp/Nick Bealer
Announcements made by the Company are available automatically by email to those who register at www.ntog.co.uk.