Update re Requisition to Convene a General Meeting

RNS Number : 1373J

Nostra Terra Oil & Gas Company PLC

08 April 2020

 

8 April 2020

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

Update regarding Requisition to Convene a General Meeting

Further to the Company's announcement of 30 March 2020, the Board of Nostra Terra announces that the requisition from Eridge Capital Limited ("Eridge"), dated 24 March 2020, to convene a general meeting ("GM") of the Company's shareholders, is deemed to be valid. Accordingly, the Company will, no later than 16 April 2020, be posting a circular convening the GM to shareholders.

In addition, Eridge has informed the Company that a further requisition notice is in the process of being delivered to the Company that proposes a GM be convened in order for shareholders to consider and vote on a further resolution to appoint Robert Bensh as a director of the Company. Once the Company formally receives the further requisition notice it will make an announcement.

Further announcements will be made in a due course. 

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

For further information, 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]
Shard Capital Stockbrokers (Joint Broker) Damon Heath / Erik Woolgar Lionsgate Communications (Public Relations) Jonathan Charles	Tel: Tel:	[phone] [phone]

About Nostra Terra

Nostra Terra is seeking to increase oil production and reserves through both organic growth and strategic acquisitions, utilising the latest drilling and completion techniques.

Nostra Terra's core asset is a 100% working interest in the Mesquite asset located in the prolific Permian Basin, West Texas. The Mesquite asset covers 1,984 net acres with estimated proven recoverable reserves of 2.4mmbbls.

In addition, Nostra Terra has a 100% working interest in the well-established East Texas region, and interests in three additional Permian Basin properties in close proximity to Mesquite and is currently producing from two wells. The first well reached pay-out in less than one year.

The Permian Basin , which covers 75,000 square miles over West Texas and southeast New Mexico, is the most prolific oil producing basin in the country.  

For further information, please visit our website: www.ntog.co.uk.

 

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