Matt Lofgran CEO of Nostra Terra Oil & Gas has appeared recently with our friends at IGTV, as ever Lofgran has been candid in his account of the business vehemently defending the companies low valuation against its recent progress which was highlighted via RNS of late. On discussing the companies assets Matt reviews East Texas accompanied to highlighting the potential jewel in the crown at the West Texas “Permian basin”, by his own admission it’s extremely encouraging to expand Nostra’s footprint.
Jeremy Naylor proceeds to quiz Matt about the companies current valuation to which the CEO hits back “At 3.25p or £5m it’s kinda shocking quite frankly”, we’ve had a lack of newsflow but we’ve been busy in the background, yet our foundations are key to us and we believe these will be shown shortly. To close he was asked what can shareholders look forward to? Matt replied “lookout for acquisitions and new wells coming online.”
From the recent footnote in the RNS dated 29th August 2018
Matt Lofgran, Chief Executive Officer commented:
“We are delighted with the revenues for the first 6 months of the financial year. This marks completion of the latest phase of our growth strategy. We have in a place a firm foundation of stable oil production and strong free cash flow generation. Our US$5million Senior Lending Facility with Washington Federal Bank provides us with additional working capital we need to develop our existing assets.
With this in mind, Nostra Terra is now well positioned to enter into the next strategic phase, as we seek to introduce larger assets to the business. As previously announced, we are currently reviewing a number of acquisition opportunities and I look forward to providing further updates to the market.”
Below is a recent visual overview of the companies existing assets
