Nostra Terra Oil and Gas Company PLC (AIM:NTOG) said it has successfully raised £450,000 - cash that will be used to boost the production and cash flow from its primary asset, Pine Mills, in Texas.
The investment round was supported by institutional investors, directors, management and existing shareholders, as well as new NTOG backers.
"Today's fundraise is an important step in the rebuilding of NTOG as it enables us to put the proceeds to work into identified workover opportunities that should significantly increase production at Pine Mills," said chief executive Paul Welch.
"I would like to thank those shareholders and new institutional investors who supported the fundraise, and I look forward to updating everyone on our operational progress over the coming months."