Nostra Terra Oil and Gas Company plc (LON:NTOG) has raised £250,000 of new equity to help support the company as it seeks new acquisition opportunities.
The cash injection also helps put Nostra Terra in a stronger position of negotiation, it added.
Some 12.5mln new shares are being issued at a price of 2p each to raise the funds.
It comes as the company awaits funds from the US$2.1mln sale of its 20% stake in the Chisholm Trial assets, onshore USA, and as the company continues to evaluate new ventures.