It’s a new dawn, it’s a new day, it’s a new life for Nostra Terra Oil and Gas and it’s feeling good!
Agitating shareholders, an oil price crash and Covid are not an issue for Nostra Terra Oil and Gas unlike its peers which have seen one or all of these distractions result in failure, foreclosure and folding.
All of the above could quite easily have dogged the business throughout 2020, but the disgruntled have departed, the company hedged the price of oil in a stroke of non-telepathic intuition and the pandemic have presented Nostra with production ready assets at ‘no brainer’ prices.
Nostra’s most recent acquisition is the 100% working interest and operatorship in the producing Caballos Creek oil field in South Texas in exchange for a total cash consideration of US$425,000.
The oil field covers approximately 745 acres; the acreage is held by production and includes five producing wells, two injectors, one shut-in producer and associated infrastructure, as well as additional development opportunities.
Chief Executive Matt Lofgran tells Sarah Lowther that what could have been the company’s annus horribilis is turning into a year defined by astute hedging, a revitalised board and the purchase of cash generative assets.
With the share price at a three year low at around 0.25p is this finally time for a treat from Texas…
Watch the company video to give you a visual on the company’s other prospects in West Texas.
The author was paid for this article but does not hold shares in the above mentioned company.