Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksNostra Terra Regulatory News (NTOG)

Share Price Information for Nostra Terra (NTOG)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.09
Bid: 0.085
Ask: 0.095
Change: -0.0025 (-2.70%)
Spread: 0.01 (11.765%)
Open: 0.0925
High: 0.0925
Low: 0.09
Prev. Close: 0.0925
NTOG Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Hedging Facility Update

19 Oct 2017 07:00

RNS Number : 9966T
Nostra Terra Oil & Gas Company PLC
19 October 2017
 

19 October 2017

 

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

 

Hedging Facility Update

 

Nostra Terra (AIM:NTOG), the oil and gas exploration and production company with a portfolio of assets in the USA and Egypt, announces the following:

 

As previously announced on 26 September 2017, Nostra Terra has secured a hedging facility with BP Energy Company ("the hedging facility"). In response to queries from investors, the board of the Company (the "Board") can confirm that it intends to utilise the hedging facility primarily in conjunction with lending facilities to enable increased funds to be made available to the Company.

 

In addition, as Nostra Terra has been able to demonstrate a track record of stable and secure oil production, BP Energy Company has waived its margin requirement. As a result, the Company's working capital position can be improved because the Company will not be required to hold cash on margin.

 

The hedging facility includes an inter creditor agreement to work seamlessly with Nostra Terra's existing $25,000,000 senior lending facility with Texas Capital Bank ("the TCB Facility"). This could also be applied to any other potential new senior lending facility. Nostra Terra has gone to great lengths over recent years to maintain the TCB Facility in good standing, with this goal in mind.

 

However, having now secured the hedging facility with BP Energy Company, the Board believes the Company is in a better funding position than it anticipated to be able to deliver its growth strategy. Nostra Terra is currently in discussions with three banks, including Texas Capital Bank, to ensure it has the best facility in place not just for immediate growth plans but also those over the coming years.

 

Nostra Terra expects to provide an update concerning this in the coming weeks.

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

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

 

Nostra Terra Oil and Gas Company plc

Matt Lofgran, CEO

 

+1 480 993 8933

Strand Hanson Limited

(Nominated & Financial Adviser and Joint Broker)

+44 (0) 20 7409 3494

Rory Murphy / Ritchie Balmer / Jack Botros

Smaller Company Capital Limited (Joint Broker)

+44 (0) 20 3651 2910

Rupert Williams / Jeremy Woodgate

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCOKFDBPBDDQKD
Date   Source Headline
22nd Feb 20247:00 amRNSHolding(s) in Company
6th Feb 20249:23 amRNSHolding(s) in Company
30th Jan 20249:37 amRNSHolding(s) in Company
30th Jan 20249:34 amRNSHolding(s) in Company
29th Jan 20248:12 amRNSHolding(s) in Company
16th Jan 20247:00 amRNSNTOG enters a Strategic Partnership
11th Jan 20247:00 amRNSGrowth Plans and Fundraise, Issue of Equity & TVR
28th Sep 20237:00 amRNSHalf-year Report
30th Aug 20239:50 amRNSFavourable Ruling regarding Fouke Wells
30th Jun 20232:45 pmRNSResult of AGM
2nd Jun 20237:00 amRNSFinal Results
20th Apr 20237:00 amRNSQ4 Production and Operations Update
27th Mar 20235:00 pmRNSChange of Auditor
30th Dec 20227:00 amRNSQ3 Production and Operations Update
16th Dec 20227:00 amRNSSubstantial increase in Senior Facility
30th Sep 20227:00 amRNSInterim Results for the period ended 30 June 2022
1st Sep 20227:00 amRNSQ2 Production and Operations Update
1st Aug 20227:00 amRNSFouke #2 Payback in Under 3 Months
19th Jul 202211:05 amRNSSecond Price Monitoring Extn
19th Jul 202211:00 amRNSPrice Monitoring Extension
18th Jul 20227:00 amRNSHolding(s) in Company
30th Jun 202211:22 amRNSResult of AGM
8th Jun 20227:00 amRNSFinal Results
7th Jun 20221:07 pmRNSGrant East #1 Completion Results
1st Jun 20224:40 pmRNSSecond Price Monitoring Extn
1st Jun 20224:35 pmRNSPrice Monitoring Extension
1st Jun 20222:05 pmRNSSecond Price Monitoring Extn
1st Jun 20222:00 pmRNSPrice Monitoring Extension
1st Jun 20227:00 amRNSExercise of Warrants and TVR
26th May 20227:00 amRNSQ1 Production and Operations Update
16th May 20227:00 amRNSFouke 2 Production Rates Exceed Expectations
9th May 20227:00 amRNSGrant East #1 Well successfully drilled
3rd May 20227:00 amRNSPermian Basin – Grant East #1 Well Spud
14th Apr 20227:00 amRNSDrilling Start Up – Grant East Lease
8th Apr 20227:00 amRNSExtension to Exercise Period for Placing Warrants
1st Apr 20226:24 pmRNSExercise of Warrants and TVR
28th Mar 20227:00 amRNSSenior Facility Expansion and asset value increase
28th Feb 20227:00 amRNSPine Mills – Fouke 2 Well successful
23rd Feb 20227:00 amRNSQ4 Production and Operations Update
17th Feb 20227:00 amRNSPine Mills – New Well Spud – Fouke #2
4th Feb 20227:00 amRNSAppointment of Director
10th Jan 20227:00 amRNSPine Mills – Operations for New Well
5th Jan 20227:00 amRNS2022 Growth Plans
8th Nov 20217:00 amRNSOperations Update
2nd Nov 20213:01 pmRNSExercise of Warrants and TVR
20th Oct 20217:00 amRNSFurther Reserves Update
30th Sep 20217:00 amRNSInterim Results
29th Sep 20218:40 amRNS$10m Senior Facility and Reserves Upgrade
5th Jul 20211:41 pmRNSResult of AGM
14th Jun 20217:00 amRNSFinal Results and Notice of AGM

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.