Update - Record first half revenue

RNS Number : 0600Z

Nostra Terra Oil & Gas Company PLC

29 August 2018

 

29 August 2018

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

Record first half revenue

Nostra Terra (AIM:NTOG), the oil and gas exploration and production company with a portfolio of assets in the USA and Egypt, is pleased to report record revenue for the first half of 2018.

During the period Nostra Terra generated net revenue (after royalties) of approximately $1,150,000 (£850,000). This is a 55% increase over the first half of 2017. With continued strength in the oil price and increased production across the Company's US assets, Nostra Terra expects to improve on this performance in the second half of the year.

The Company is currently finalizing its Interim Report and expects to release this on or before Friday 28 September 2018.

Launch of new corporate website

Nostra Terra is also pleased to announce the launch of its new corporate website. Please visit www.ntog.co.uk for more details.

Matt Lofgran, Chief Executive Officer of Nostra Terra, commented:

"We are delighted with the revenues for the first 6 months of the financial year. This marks completion of the latest phase of our growth strategy. We have in a place a firm foundation of stable oil production and strong free cash flow generation. Our US$5million Senior Lending Facility with Washington Federal Bank provides us with additional working capital we need to develop our existing assets.

With this in mind, Nostra Terra is now well positioned to enter into the next strategic phase, as we seek to introduce larger assets to the business. As previously announced, we are currently reviewing a number of acquisition opportunities and I look forward to providing further updates to the market."

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

For further information, visit www.ntog.co.uk or 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]
Smaller  Company Capital Limited (Joint Broker) Rupert Williams / Jeremy Woodgate	Tel:	[phone]

 

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