Nostra Terra Oil & Gas Company PLC Update: Requisitions to Convene a General Meeting (9792B)
05 February 2020 - 6:00PM
UK Regulatory
TIDMNTOG
RNS Number : 9792B
Nostra Terra Oil & Gas Company PLC
05 February 2020
5 February 2020
Nostra Terra Oil and Gas Company plc
("Nostra Terra" or the "Company")
Update re: Requisitions to Convene a General Meeting
Further to the Company's announcements of 24 January 2020 and 3
February 2020, Nostra Terra announces that it intends to publish a
circular, with accompanying notice of general meeting, in relation
to the two requisitions, dated 15 January 2020 and 31 January 2020,
received from Eridge Capital Limited ("Eridge"), (the
"Requisitions") by no later than 12 February 2020.
The Board of Nostra Terra believes it is in the best interests
of the Company and its shareholders as whole to consider the
Requisitions at a single general meeting rather than to incur the
costs and expenses associated with publishing two separate
circulars.
In addition, the second Requisition was received along with a
statement from Eridge in relation to the Requisitions for inclusion
in the circular, notwithstanding that the second Requisition
contained an additional resolution regarding the removal of Ewen
Ainsworth from the Board. The Board believes that publishing a
single circular to shareholders by 5 February 2020 to consider the
Requisitions would not allow sufficient time for these additional
items to be responded to by the Board. The Company recognises that
this does not comply with the Companies Act 2006 and it will use
all reasonable endeavours to publish the circular as soon as
possible (in any event no later than 12 February).
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: +1 480 993 8933
Strand Hanson Limited
(Nominated & Financial Adviser and Joint
Broker) +44 (0) 20 7409
Rory Murphy / Ritchie Balmer / Jack Botros Tel: 3494
+44 (0) 207 186
Shard Capital Stockbrokers (Joint Broker) 9952
Damon Heath / Erik Woolgar Tel:
Lionsgate Communications (Public Relations) +44 (0) 203 697
Jonathan Charles Tel: 1209
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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