Initial response to MAGP's announcement re EGM

RNS Number : 7691I

Nostra Terra Oil & Gas Company PLC

21 June 2017

 

21 June 2017

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

Initial response to MAGP's announcement re EGM

Nostra Terra notes the announcement made yesterday by Magnolia Petroleum Plc ("Magnolia" or "MAGP") and the publication of a circular convening a General Meeting of Magnolia on 18 July 2017 ("Circular").

In the coming days Nostra Terra will release a full response to Magnolia's announcement, correcting what Nostra Terra believes to be factual inaccuracies in the MAGP announcement and Circular and addressing what Nostra Terra believes to be the fundamental challenges facing MAGP. Given its operational and commercial experience in the onshore oil and gas market in the United States, Nostra Terra believes that Magnolia is pursuing the wrong strategy and that it is well placed to assist Magnolia in restructuring its business model and delivering shareholder value.

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		[phone]
Strand Hanson Limited (Nominated & Financial Adviser and Joint Broker)			[phone]
Rory Murphy / Ritchie Balmer / Jack Botros
Smaller Company Capital Limited (Joint Broker)			[phone]

Rupert Williams / Jeremy Woodgate

 

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