Sale of Chisholm Trail Prospect Update

RNS Number : 6782D

Nostra Terra Oil & Gas Company PLC

08 July 2016

 

8 July 2016

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

Sale of Chisholm Trail Prospect Assets Update

Further to Nostra Terra's announcement of 30 June 2016, regarding the sale of the Company's 20% stake in the Chisholm Trail Prospect for $2.1 million (net to NTOG), which is operated by Ward Petroleum Corporation, the Board is pleased to announce that the sale is progressing in line with expectations. The buyer's funds for the full purchase price have been verified, a non-refundable deposit is scheduled to be deposited at the beginning of next week, and the buyer is carrying out title due diligence in the ordinary course with the transaction expected to close no later than 17 August 2016 as previously announced.

This presents a material opportunity for the company to progress on other fronts and we look forward to updating the markets in due course.

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

Nostra Terra Oil and Gas Company plc Matt Lofgran, CEO		[phone]
Strand Hanson Limited (Nominated & Financial Adviser and Joint Broker)			[phone]
Rory Murphy / Ritchie Balmer
Cornhill Capital Ltd (Joint Broker)			[phone]
Nick Bealer / Colin Rowbury
Walbrook PR (Financial PR)			[phone]
Gary Middleton / Nick Rome

 

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