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Nostra Terra Oil and Gas ( (GB:NTOG) ) has provided an update.
Nostra Terra Oil and Gas Company Plc has successfully raised £500,000 through a fundraise supported by institutional investors, directors, management, existing shareholders, and new investors. The proceeds will be used to complete the workover program at the Pine Mills license in East Texas, where production is expected to increase from 90 to approximately 110 barrels of oil per day. This fundraise is seen as a strategic move to unlock further value from Pine Mills, enhancing the company’s operational capabilities and market positioning. The participation of directors and substantial shareholders in the fundraise highlights confidence in the company’s growth prospects.
More about Nostra Terra Oil and Gas
Nostra Terra Oil and Gas Company Plc is an international oil and gas exploration and production company with development and production assets located in Texas, USA. The company focuses on maximizing value from its high-margin assets, such as the Pine Mills license in East Texas, which offers substantial organic growth potential.
YTD Price Performance: 3.33%
Average Trading Volume: 78,882,283
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £1.5M
For an in-depth examination of NTOG stock, go to TipRanks’ Stock Analysis page.