The board of Nostra Terra Oil & Gas reported Aug. 18 that the US$2.1 million sale of its interest in the Chisholm Trail prospect in a portion of Oklahoma’s Anadarko Basin to Staghorn Petroleum LLC was completed. The sale’s commercial confidentiality was then lifted.
According to its website, in late 2012, London-based Nostra Terra acquired a 20% interest in the prospect.
Nostra Terra will use the net proceeds from the sale to support growth plans and general working capital purposes.
Nostra Terra is evaluating several opportunities in North America, Egypt and elsewhere.
The board also said that it has extended the suspension of quarterly operations reports.
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