Assignment of Promissory Note

Nostra Terra Oil and Gas Company plc
                                        (the 'Company')

                                  Assignment of Promissory Note

15 November 2007

The Company hereby announces that its wholly owned subsidiary, Nostra Terra (Overseas) Limited ("NTOL") has agreed to an
assignment by Nikea Nominees Limited and Nikea Trustees Limited (the "NTOL Vendors") of US$242,299 of the sum payable by
NTOL under a promissory note dated 25 May 2007 (the "Promissory Note") as described in the Company's admission document
dated 25 June 2007 between (1) Anglo Crimean Oil Company Limited, (2) the NTOL Vendors and (3) NTOL to Masterworks
(Overseas) Limited ("Masterworks").

The assignment of US$242,299 of the Promissory Note is in consideration of a debt owed by the NTOL Vendors to
Masterworks. The balance of the promissory note, being US$194,161, remains payable by NTOL to the NTOL Vendors and the
effect on the Company is neutral.

Masterworks, through 600086 Alberta Ltd, provides the Company with the consultancy services of Neville Desmond Smith, a
director of the Company. Mr Smith is a director and shareholder of 600086 Alberta Ltd.

For further information contact:

Nostra Terra Oil and Gas Company plc
Brain Courtney, Chief Executive Officer        [e-mail]
Stephen Oakes, Non-executive Director          Tel: [phone]


ARM Corporate Finance Limited                  Tel: [phone]
Alan MacKenzie
Nick Harriss