Board Changes


Nostra Terra (AIM: NTOG), the oil & gas exploration and production company with a portfolio of development and production assets in Texas, USA, announces changes to its board of directors with effect from today.


Matt Lofgran, Nostra Terra's long-serving CEO, has stepped down from the role to concentrate on other interests. Matt has led the Company since 2009 and he will continue to provide support to the Company as an advisor for a 6 month transition period.


Paul Welch, currently a non-executive director of the Company, will move to the role of CEO with immediate effect. Paul has extensive experience of working in the Texas oil and gas industry. Overall, he has more than 30 years of industry experience, having worked for Shell Oil Company for 15 years and for several large independents, including Hunt Oil Company and Pioneer Natural Resources. Paul was CEO of AIM-listed explorer Chariot Oil and Gas (2009-2012) and subsequently of Sea Dragon Energy and SDX Energy, the latter until 2019. He was appointed as CEO of Cosimo Holding Ltd in 2019. Paul was also appointed Chairman of Main Market ACP Energy PLC in 2022. He graduated from the Colorado School of Mines with bachelor's and master's degrees in petroleum engineering. He also holds an MBA in Finance from Southern Methodist University (SMU) in Dallas, Texas.



Steve Staley, Nostra Terra's Chairman, said:



"On behalf of the Board I would like to thank Matt for his long service to Nostra Terra and am glad that he will continue to provide support to the Company as we move forward.


I would also like to welcome Paul to the role of CEO and look forward to working with him in that new capacity as we embark on the next phase of growth."



This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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