Source - Alliance News

Nostra Terra Oil & Gas Company PLC - London-based oil and gas company with operations focused in the US - Expands senior lending facility to $3.4 million from $2.4 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 $32.4 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%

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