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Pin to quick picksNostra Terra Regulatory News (NTOG)

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Potential Portfolio Expansion

21 Apr 2021 07:00

RNS Number : 0899W
Nostra Terra Oil & Gas Company PLC
21 April 2021
 

21 April 2021

 

Nostra Terra Oil and Gas Company Plc

("Nostra Terra" or "the Company")

 

Potential Portfolio Expansion

 

 

Nostra Terra (AIM: NTOG), the oil & gas exploration and production company with a portfolio of development and production assets in Texas, USA, is pleased to announce progress with the planned strategic expansion of its portfolio into Tunisia. Exclusive negotiations and preparations have taken place for a large block with existing discoveries, offering both exploration and appraisal activity and new entities have been organised in anticipation of such expansion.

 

Completion of the initial transaction is not certain, however Nostra Terra has exclusivity, has negotiated terms and is waiting final approval. Further updates will be made in due course.

 

 

Matt Lofgran, Nostra Terra's Chief Executive Officer, said:

 

"Our core focus at Nostra Terra has been to first build a foundation of steady producing assets where cashflow covers overhead and can be reinvested in growth. We know investors like to see assets that have large potential upsides so that they can deliver substantial value. We said that we planned to add that aspect to the portfolio once we reached cashflow positive.

 

In anticipation of where we are now, we began working on certain opportunities in the Spring of 2020, when commodity prices were low, caused by the onslaught of the Covid pandemic, creating a great opportunity to invest. We are leveraging the board's extensive experience and network, and we look forward to adding a dynamic asset to the portfolio, with no near term external funding needs, and the ability to have a very positive impact."

 

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

 

 

For further information, contact:

Nostra Terra Oil and Gas Company plc

Matt Lofgran, CEO

 

Email:

+1 480 993 8933

Beaumont Cornish Limited

(Nominated Adviser)

James Biddle/ Roland Cornish

 

Tel:

+44 (0) 20 7628 3396

Novum Securities Limited (Broker)

Jon Belliss

 

Lionsgate Communications (Public Relations)

Jonathan Charles

Tel:

 

 

Tel:

+44 (0) 207 399 9425

 

 

+44 (0) 7791 892509

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
PFUPPUPACUPGGQU
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