14th Jul 2016 08:39
LONDON (Alliance News) - Nostra Terra Oil & Gas Co PLC on Thursday said it has raised funds to back a push to proactively seek out new acquisitions.
The oil and gas operator, which has assets in the US and Egypt, said it has issued 12.5 million shares at 2.00 pence each to raise GBP250,000. Shares in Nostra were down 17% to 1.97p Thursday.
Nostra Terra raised GBP25,000 of the funds via the PrimaryBid online platform, which provides investors access to placings by AIM-listed companies.
Nostra Terra said the funds will allow it to seek out more acquisitions as it awaits the proceeds from the sale of its Chisholm Trail interest in Oklahoma. Nostra Terra has sold its 20% interest in Chisholm Trail to Ward Petroleum Corp, a privately-held, Oklahoma-based oil and gas company, for USD2.1 million.
By Sam Unsted; [email protected]; @SamUAtAlliance
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