REG - Nostra Terra O&G Co - Board Changes

Nostra Terra Oil and GasAnnouncement

20/05/2024 08:15

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RNS Number : 0670P  Nostra Terra Oil & Gas Company PLC  20 May 2024

20th May 2024

 

Nostra Terra Oil and Gas Company Plc

("Nostra Terra" or "the Company")

 

Board Changes

 

Nostra Terra (AIM: NTOG), the oil & gas exploration and production company
with a portfolio of development and production assets in Texas, USA, announces
changes to its board of directors with effect from today.

 

Matt Lofgran, Nostra Terra's long-serving CEO, has stepped down from the role
to concentrate on other interests. Matt has led the Company since 2009 and he
will continue to provide support to the Company as an advisor for a 6 month
transition period.

 

Paul Welch, currently a non-executive director of the Company, will move to
the role of CEO with immediate effect. Paul has extensive experience of
working in the Texas oil and gas industry. Overall, he has more than 30 years
of industry experience, having worked for Shell Oil Company for 15 years and
for several large independents, including Hunt Oil Company and Pioneer Natural
Resources. Paul was CEO of AIM-listed explorer Chariot Oil and Gas (2009-2012)
and subsequently of Sea Dragon Energy and SDX Energy, the latter until 2019.
He was appointed as CEO of Cosimo Holding Ltd in 2019. Paul was also appointed
Chairman of Main Market ACP Energy PLC in 2022. He graduated from the Colorado
School of Mines with bachelor's and master's degrees in petroleum engineering.
He also holds an MBA in Finance from Southern Methodist University (SMU) in
Dallas, Texas.

 

 

Steve Staley, Nostra Terra's Chairman, said:

 

 

"On behalf of the Board I would like to thank Matt for his long service to
Nostra Terra and am glad that he will continue to provide support to the
Company as we move forward.

 

I would also like to welcome Paul to the role of CEO and look forward to
working with him in that new capacity as we embark on the next phase of
growth."

 

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK Domestic
Law by virtue of the European Union (Withdrawal) Act 2018. Upon the
publication of this announcement, this inside information is now considered to
be in the public domain.

 

For further information, contact:

 Nostra Terra Oil and Gas Company plc  Email:  sstaley@ntog.co.uk

 Steve Staley, Chairman

 Beaumont Cornish Limited              Tel:    +44 (0) 20 7628 3396

 (Nominated Adviser)

 James Biddle/ Roland Cornish

 Novum Securities Limited (Broker)     Tel:    +44 (0) 207 399 9425

 Jon Belliss

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it

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