Nostra Terra Oil and Gas Company PLC (AIM:NTOG) said its new board of directors is beginning various corporate and marketing initiatives to restore liquidity and interest in the company's shares as it fields calls from potential buyers of its non-core assets in Texas.
Non-core assets in South Texas assets returned to production last month, the company said, having been shut since December.
Selling these assets, along with others in West Texas, will enable Nostra Terra to focus on what it said would be a "significant production uplift" at its 100%-owned Pine Mills asset in East Texas.
It said "several" private buyers are expressing interest in the South Texas assets, which are expected to continue to produce at current levels until the sale process is complete of around eight barrels per day net to the company.
The company is convening a shareholder vote to propose a share reorganisation to improve liquidity, alongside other efforts, including media work.
CEO Paul Welch said: "We are committed to improving the company's operational and financial performance. Today's announcement is the start of this ongoing process, and I plan to keep all stakeholders thoroughly and regularly informed as we implement the changes we've recently outlined."