Business
Final Results and Notice of AGM
Final Results and Notice of AGM.
About this update from Buccaneer Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7162B\n Nostra Terra Oil & Gas Company PLC\n 14 June 2021\n \n \n \n \n 14 June 2021\n \n \n \n \n \n \n Nostra Terra Oil and Gas Company Plc\n \n \n \n \n (\"Nostra Terra\" or \"the Company\")\n \n \n \n \n \n \n \n \n \n 2020 Audited Annual Results\n \n \n \n \n Notice of AGM\n \n \n \n \n \n \n \n \n \n Nostra Terra (AIM: NTOG), the oil & gas exploration and production company with a portfolio of development and production assets in Texas, USA,\n \n is pleased to announce its final results for the year ended 31 December 2020 (the \"Results\"). A copy of the Results, along with a Notice of AGM, is being posted to Shareholders and is available on the Company's website, \n \n www.ntog.co.uk\n \n . The AGM will be held at \n at the offices of Druces LLP at \n Salisbury House, London Wall, London EC2M 5PS\n at 11.00 a.m. on 5 July 2021.\n \n \n \n \n \n \n \n \n Highlights during the period:\n \n \n · \n Revenue for the period was $1,025,000 (2019: $1,795,000) \n \n \n \n \n \n · \n Cashflow positive achieved in December (prior to new well being put into production)\n \n \n \n \n \n · \n Gross loss from operations (before non-cash items of depreciation and amortization) for the period of $395,000 (2019: $290,000 profit) \n \n \n \n \n \n · \n Production for the period was 29,583 barrels of oil (2019: 33,179 boe)\n \n \n \n \n \n · \n Sr. Lending Facility remain in compliance throughout year\n \n \n \n \n \n · \n New Chairman appointed to the Board (3 Mar)\n \n \n \n \n \n · \n Placing & Subscription raised additional £818,055, cornerstoned by institutional investor\n \n \n \n \n \n · \n 60% reduction in monthly overheads, versus 2019 monthly average (in effect from 8 June) [44.5% YoY]\n \n \n \n \n \n · \n Discovery loan extended to April 2022 (8 June)\n \n \n \n \n \n · \n Three non-dilutive growth transactions completed during the year\n \n \n \n \n \n o \n Pine Mills farmout - 32.5% WI in well, NTOG carried for 25% in first well \n \n \n \n \n \n o \n Caballos Creek acquisition (2 Sep)\n \n \n \n \n \n o \n Permian Basin farm-in (21 Sep)\n \n \n \n \n \n \n \n \n Post year end highlights: \n \n \n \n \n \n · \n New well at Pine Mills...