Statement re: Requisitions to Convene a GM

RNS Number : 0736C

Nostra Terra Oil & Gas Company PLC

05 February 2020

5 February 2020

Nostra Terra Oil and Gas Company plc

("Nostra Terra" or the "Company")

Statement re: Requisitions to Convene a General Meeting

Nostra Terra wishes to no fy shareholders that the loan agreement entered into between the Company's subsidiary, New Horizons Energy 1 LLC ("New Horizons"), and Washington Federal Bank ("WAFB") (the "Loan Agreement"), as announced on 8 January 2018, contains a number of customary nega ve covenants, one of which relates to the ongoing appointment of Matt Lofgran as President of New Horizons (the "key man clause").

The key man clause s pulates that New Horizons must obtain wri en consent from WAFB prior to Ma Lofgran ceasing to be President of New Horizons. Otherwise New Horizons will have 30 days to remedy the situa on or it will be in default of the Loan Agreement and the outstanding principal and interest will immediately become due.

In the event Matt Lofgran is voted off the Board at the Company's forthcoming General Meeting, there is no guarantee that Mr Lofgran would remain as an employee of the Nostra Terra group, and therefore as President of New Horizons. Accordingly, the Company's Board at such me would seek the wri en consent of WAFB to waive the key man clause, however there is a risk that this would not be given.

For further information, contact:
Nostra Terra Oil and Gas Company plc	Tel:	[phone]
Matt Lofgran, CEO
Strand Hanson Limited	Tel:	[phone]
(Nominated & Financial Adviser and Joint Broker)
Rory Murphy / Ritchie Balmer / Jack Botros
Shard Capital Stockbrokers (Joint Broker)	Tel:	[phone]
Damon Heath / Erik Woolgar
Lionsgate Communications (Public Relations)	Tel:	[phone]
Jonathan Charles

About Nostra Terra

Nostra Terra is seeking to increase oil produc on and reserves through both organic growth and strategic acquisi ons, utilising the latest drilling and completion techniques.

Nostra Terra's core asset is a 100% working interest in the Mesquite asset located in the prolific Permian Basin, West Texas. The Mesquite asset covers 1,984 net acres with estimated proven recoverable reserves of 2.4mmbbls.

In addi on, Nostra Terra has a 100% working interest in the well-established East Texas region, and interests in three addi onal Permian Basin proper es in close proximity to Mesquite and is currently producing from two wells. The first well reached pay-out in less than one year.

The Permian Basin, which covers 75,000 square miles over West Texas and southeast New Mexico, is the most prolific oil producing basin in the country.

For further information, please visit our website: www.ntog.co.uk.

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