8th Jul 2016 10:09
LONDON (Alliance News) - Nostra Terra Oil & Gas Co PLC on Friday said the sale of its 20% interest in the Chisholm Trail prospect is progressing in line with expectations.
Nostra announced a USD2.1 million deal to sell its stake in the prospect, located in Oklahoma in the US, in late June. It is selling the stake to Ward Petroleum Corp, a privately-held, Oklahoma-based oil and gas company.
Nostra said the funds for the purchase price have been verified at Ward and a deposit for the deal is set to be paid next week.
The UK firm said it continues to anticipate the deal will close by August 17.
Shares in Nostra were down 4.4% to 2.51 pence on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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