Business
Assignment of Promissory Note
Assignment of Promissory Note.
About this update from Buccaneer Energy Plc
[{"type":"text","content":"\n Nostra Terra Oil and Gas Company plc\n (the 'Company')\n\n Assignment of Promissory Note\n\n15 November 2007\n\nThe Company hereby announces that its wholly owned subsidiary, Nostra Terra (Overseas) Limited (\"NTOL\") has agreed to an\nassignment by Nikea Nominees Limited and Nikea Trustees Limited (the \"NTOL Vendors\") of US$242,299 of the sum payable by\nNTOL under a promissory note dated 25 May 2007 (the \"Promissory Note\") as described in the Company's admission document\ndated 25 June 2007 between (1) Anglo Crimean Oil Company Limited, (2) the NTOL Vendors and (3) NTOL to Masterworks\n(Overseas) Limited (\"Masterworks\").\n\nThe assignment of US$242,299 of the Promissory Note is in consideration of a debt owed by the NTOL Vendors to\nMasterworks. The balance of the promissory note, being US$194,161, remains payable by NTOL to the NTOL Vendors and the\neffect on the Company is neutral.\n\nMasterworks, through 600086 Alberta Ltd, provides the Company with the consultancy services of Neville Desmond Smith, a\ndirector of the Company. Mr Smith is a director and shareholder of 600086 Alberta Ltd.\n\nFor further information contact:\n\nNostra Terra Oil and Gas Company plc\nBrain Courtney, Chief Executive Officer [email protected]\nStephen Oakes, Non-executive Director Tel: +44 (0)207 877 8788\n\n\nARM Corporate Finance Limited Tel: +44 (0)20 7512 0191\nAlan MacKenzie\nNick Harriss \n ","length":1759,"tagName":"div"}]