Nostra Terra Oil and Gas Company PLC (AIM:NTOG, OTC:NTOGF) CEO Paul Welch talked with Proactive about the company's progress and future strategies at the first One2One Investor Forum of the year.
Welch highlighted a remarkable turnaround at the Pine Mills field in East Texas. Since mid-2024, production increased by 60%, operating costs dropped by 25%, and profit per barrel surged by 50%, he noted that “We are now cash flow positive at both the operating and corporate level.”
The Pine Mills asset, acquired in 2019, has untapped potential with opportunities for cost-effective production expansion. Welch detailed plans to double production, boosting cash flow fivefold within six months.
With net present value estimated at $10 million, the company aims to close the gap with its current market cap of $1.2 million. Despite capital constraints, he shared confidence in achieving targets, including scaling production to 5,000 barrels per day within five years.