News blog

Nostra Terra Oil and Gas Company

  • BY: Andrew Hore |
  • POSTED: 28/08/2017 |

Nostra Terra Oil & Gas Company says that the transfer of ownership of Magnolia Petroleum shares is still progressing.

The Magnolia share price is around three-fifths higher than the acquisition price of the shares.

The auction date of the remaining 12.5% of the Pine Mills oilfield will happen on 5 September. Nostra Terra can collect the proceeds from the highest bidder or to use the $450,000 court judgement against Hammerhead Management to bid for the stake. There is also $294,000 trade receivable owed by Hammerhead.

The Nostra Terra share price of 1.23p is near to its 12month low.

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