Transfer of Ukrainian Assets

NOSTRA TERRA OIL & GAS COMPANY PLC
                        ("Nostra Terra" or the "Company")

                          Transfer of Ukrainian Assets

18 February 2010

Nostra  Terra Oil & Gas plc (AIM: NTOG) is pleased to announce that its  wholly-
owned  subsidiary,  Nostra  Terra Overseas Ltd  ("NTOL"),  has  entered  into  a
contract with Crimea Nadra Invest (CNI) relating to its assets in Ukraine.

Under the terms of the contract, CNI will acquire all the rights and obligations
associated  with  the Joint Activity Agreement of 27 January  2001  (the  "JAA")
covering  NTOL's  operations in Ukraine and in particular the Oktyabrskoe  field
licence,  while NTOL will retain a right to payment of 25 per cent  of  any  net
profits generated by CNI from the JAA, which runs for a period of 25 years  from
27  January 2001. The consideration for the transaction is to be settled by  the
deferred  payment  from  future oil sale proceeds  of  360,000  Ukraine  hryvnia
(approximately £29,000), which will be applied towards general working capital.

During  the last nine months, Nostra Terra has successfully embarked  on  a  new
strategic  direction  focused initially on the mature,  low-cost  oil  producing
region  of  the  US  mid-continent, where it has already established  early  oil
production and continues to build its asset portfolio.

Matt Lofgran, CEO of Nostra Terra, said: "I believe this is a very positive deal
for  Nostra Terra and our shareholders, as it provides us with the right to  25%
of any future net profits from the currently non-productive JAA, with no further
cost exposure.

"Our  primary objective at this stage is to build a solid foundation within  the
US  mid-continent,  on  which to grow our oil and gas business  sustainably  and
selectively   on   an  international  scale.  With  its  local   expertise   and
relationships,  CNI  is  well positioned to unlock  additional  value  from  the
Oktyabrskoe  licence,  while  we can now devote  our  management  and  financial
resources to achieving that primary objective of profitable growth."

CNI is based in Evpatoria, Crimea, and has other oil and gas interests in the
region.

Nostra Terra will retain its small representative office in Ukraine for the time
being in order to assist and monitor the joint venture.

The  Company's 25 per cent interest in the Oktyabrskoe field licence was carried
at  £153,000  in its last audited consolidated accounts. For the year  ended  31
December  2008,  the Company reported a gross loss of £115,000  on  turnover  of
£88,000 from its Ukrainian operations following unsuccessful exploration on  the
Oktyabrskoe  #10,  #24  and #50 wells. Goodwill attributable  to  the  Company's
acquisition  of  NTOL,  stated at £3,268,000 as at 31  December  2008,  will  be
subject to impairment review in respect of the Company's 2009 financial year and
in light of NTOL's exit from the JAA.


For further information contact:

Nostra Terra Oil & Gas Company plc
Matt Lofgran, CEO                             Tel: [phone]
                                               [e-mail]

Blomfield Corporate Finance Ltd
Peter Trevelyan-Clark/Ben Jeynes          Tel: [phone]

Alexander David Securities Ltd
David Scott/Bill Sharp/Nick Bealer        Tel: [phone]


Announcements made by the Company are available automatically by email to  those
who register at www.ntog.co.uk.


Notes to Editors:

Nostra  Terra  Oil  &  Gas Company plc (AIM: NTOG) is an emerging  oil  and  gas
exploration and production company with assets in established producing  regions
within the US mid-continent. The Company's US properties are all located in  the
Central Kansas Uplift (CKU).

Hoffman
Nostra  Terra holds a 25 per cent working interest in five production wells  and
one  salt water disposal well on the Hoffman lease, located in Barton County and
Russell  County,  Kansas  and  has  a 50 per  cent  interest  in  an  additional
undeveloped 160 acres nearby in the Trapp field.

Bloom
Nostra  Terra holds a 50 per cent working interest in nine production wells  and
two  salt  water  disposal  wells on the Bloom lease, located  in  Rice  County,
Kansas.

Boxberger
Nostra Terra holds a 50 per cent working interest in eleven wells, including  at
least  two salt water disposal wells, on the Boxberger lease, located in Russell
County, Kansas.

Koelsch (option)
Nostra  Terra also has an option to purchase a 50 per cent working  interest  in
two  production  wells and one salt water disposal well in  the  Koelsch  lease,
located in Stafford County, Kansas.

Ukraine
Nostra  Terra  retains the right to a 25 per cent profit share  in  the  onshore
Oktyabrskoe oil field in the Ukraine.

For more information please visit: www.ntog.co.uk