Nostra Terra shelves placing plans
Responding to rumours on social media, USA- and Egypt-focused oil minnow Nostra Terra confirmed that it would not be raising new funds in the immediate future, though it had contemplated a fundraising.
FTSE AIM All-Share
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Nostra Terra Oil & Gas Co
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Oil & Gas Producers
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The AIM-listed company said in a short statement that a placing of new stock was "in contemplation" on 17 February but the board has since decided not to proceed.
Last month, the oil and gas exploration and production company tied up an additional 7.5% working interest in the Pine Mills oil field in Texas for $200,000, taking its total interest in Pine Mills to 87.5%.