East Ghazalat Update

RNS Number : 7529B

Nostra Terra Oil & Gas Company PLC

21 June 2016

 

 Nostra Terra Oil and Gas Company plc 

("Nostra Terra" or the "Company") 

EAST GHAZALAT UPDATE

Nostra Terra is pleased to announce that our 50 per cent. owned associate Independent Resources Egypt Limited ("IRE") has now received security clearance from the Egyptian authorities and is formally registered with the Egyptian General Petroleum Corporation (EGPC). 

IRE has put in place the paperwork for the next step which will be Commercial Registration and the receipt of an Egyptian Tax Card to formally allow IRE to receive accrued revenues from 1 July 2015, the effective date of the acquisition of East Ghazalat. The final step of the registration process should be completed shortly.

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

 "We are very pleased that our 50 per cent. owned subsidiary IRE has taken the next step forward in establishing its operations in Egypt. As a company we remain excited by the potential for oil & gas in Egypt and look forward to updating the market on further developments."

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

 

END

 

 

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