28th Mar 2022 18:18
Nostra Terra Oil & Gas Company PLC - London-based oil and gas company with operations focused in the US - Expands senior lending facility to USD3.4 million from USD2.4 million from September 1, 2021, while the interest rate remains at 4.4%.
Meanwhile, total proven reserves increase 10% to 2.15 gross barrels from September 1, giving future net income of USD32.4 million.
"This year has started very positively and we are pleased to have such a large increase in asset value and facility borrowing base, using very conservative oil prices. This was also achieved without adding any of our new wells to the base. This expansion provides the company with flexibility to execute its growth plans while accessing new opportunities," says Chief Executive Officer Matt Lofgran.
Current stock price: 0.49 pence
12-month change: up 2.1%
By Dayo Laniyan; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
Nostra Terra