Last checked at 27 Sep 2012 07:00
AIM: NTOG
27 September 2012
Nostra Terra Oil and Gas Company plc
("Nostra Terra" or the "Company")
Further Placing
Further to the announcement on 6 September, Nostra Terra, the AIM quoted oil and gas producer, with a growing portfolio of horizontal and vertical drilling with projects in the USA, has been approached by a number of institutional investors seeking to participate in a further placing.
The Company has considered these requests and is pleased to announce the completion of a further placing which has raised £200,000 by way of an issue of 55,555,556 new ordinary shares of 0.1 pence each at a placing price of 0.36 pence per share.
The 55,555,556 new Ordinary Shares to be issued pursuant to the placing will rank pari passu in all respects with the existing issued ordinary share capital of the Company. Application has been made for the new Ordinary Shares to be admitted for trading on AIM and trading is expected to commence on 3 October 2012.
Following the Placing, the issued share capital of the Company will increase to 2,456,165,314. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules (as applied to the Company by AIM Rule 17).
Matt Lofgran, Chief Executive Officer of Nostra Terra, commented:
"While the Company is fully funded for all current drilling commitments following the placing earlier this month, we have seen considerable demand which we decided to accommodate as the funds will provide us with additional flexibility to pursue other opportunities which are being presented to us."
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
Alexander David Securities Ltd
David Scott / Bill Sharp Telephone: +44 (0)20 7448 9812
Lothbury Financial Services Limited
Gary Middleton / Michael Padley Telephone: +44 (0)20 7868 2010