Nostra Terra Oil & Gas Company PLC Update - Record first half revenue (0600Z)
August 29 2018 - 2:00AM
UK Regulatory
TIDMNTOG
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 (GBP850,000). 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: +1 480 993 8933
Strand Hanson Limited
(Nominated & Financial Adviser
and Joint Broker)
Rory Murphy / Ritchie Balmer /
Jack Botros Tel: +44 (0) 20 7409 3494
Smaller Company Capital Limited
(Joint Broker)
Rupert Williams / Jeremy Woodgate Tel: +44 (0) 20 3651 2910
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END
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