Nostra Terrawww.ntog.co.uk/home/ TICKER: NTOG EXCHANGE: L
Nostra Terra Oil and Gas Company plc is an emerging oil and gas exploration and production company with recently acquired assets in established producing regions within the US mid-continent. As the current work programme progresses to bring these properties into production quickly and efficiently, the company will continue to evaluate and acquire additional assets in the US mid-continent and other proven hydrocarbon-bearing regions where operating costs and geological risk are relatively low, and where production can be enhanced using proven new recovery technologies. With its focus now on the US mid-continent, Nostra Terra has transferred its rights and obligations in the Oktyabrskoe field in Ukraine, but retains a right to 25% of any future net profits from the field, with no further cost exposure. This allows the company to focus all its resources on building a solid foundation within the US, on which to grow its oil and gas business steadily and selectively and thereby create significant and sustainable value for its shareholders.
Initially will develop 7 wells with 29 in the pipeline
Recent placing should fund Well 1, and company looks cash positive now
Fair value for first phase of investment is 1.665p / share vs current 1.2p