Requisition to Convene a General Meeting

RNS Number : 1782A

Nostra Terra Oil & Gas Company PLC

17 January 2020

 

17 January 2020

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

Requisition to Convene a General Meeting

The Board of Nostra Terra announces that yesterday it received a letter from Eridge Capital Limited, dated 15 January 2020, requisitioning a general meeting ("GM") of the Company's shareholders (the "Requisition"). The Requisition proposes that shareholders be asked to consider resolutions to remove Matt Lofgran from the Board; to appoint Andrew Morrison to the Board; and to remove any Directors that may be appointed in the period between the date of the Requisition and the proposed GM. The Company will comply with its obligations under the Companies Act 2006 and, subject to establishing the validity of the Requisition, will convene a GM.

Further announcements will be made in a due course. 

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	Tel:	[phone]
Strand Hanson Limited (Nominated & Financial Adviser and Joint Broker) Rory Murphy / Ritchie Balmer / Jack Botros	Tel:	[phone]
Shard Capital Stockbrokers (Joint Broker) Damon Heath / Erik Woolgar Lionsgate Communications (Public Relations) Jonathan Charles	Tel: Tel:	[phone] [phone]

About Nostra Terra

Nostra Terra is seeking to increase oil production and reserves through both organic growth and strategic acquisitions, utilising the latest drilling and completion techniques.

Nostra Terra's core asset is a 100% working interest in the Mesquite asset located in the prolific Permian Basin, West Texas. The Mesquite asset covers 1,984 net acres with estimated proven recoverable reserves of 2.4mmbbls.

In addition, Nostra Terra has a 100% working interest in the well-established East Texas region, and interests in three additional Permian Basin properties in close proximity to Mesquite and is currently producing from two wells. The first well reached pay-out in less than one year.

The Permian Basin, which covers 75,000 square miles over West Texas and southeast New Mexico, is the most prolific oil producing basin in the country. 

For further information, please visit our website: www.ntog.co.uk.

 

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