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
Steve Staley, Chairman
|
Email:
|
sstaley@ntog.co.uk
|
|
Beaumont Cornish Limited
(Nominated Adviser)
James Biddle/ Roland
Cornish
|
Tel:
|
+44 (0) 20 7628
3396
|
|
Novum Securities Limited
(Broker)
Jon Belliss
|
Tel:
|
+44 (0) 207 399 9425
|
|
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