StockMarketWire.com - Nostra Terra Oil and Gas Co [LON:NTOG] says the sale of its 20% stake in the Chisholm Trail prospect for $2.1 million, which is operated by Ward Petroleum Corporation, is progressing in line with expectations.

The buyer's funds for the full purchase price have been verified, a non-refundable deposit is scheduled to be deposited at the beginning of next week, and the buyer is carrying out title due diligence in the ordinary course with the transaction expected to close no later than 17 August as previously announced.

NTOG said: "This presents a material opportunity for the company to progress on other fronts and we look forward to updating the markets in due course."

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Aminex [LON:AEX] is planning to raise £19.5m through a placing and open offer to finance the drilling of the Ntorya-2 appraisal well and the Ntorya-3 exploration well.

Approximately 983.1 million new ordinary shares will be issued through a cornerstone placing to raise gross proceeds of approximately £12.8m and approximately 318.9 million will be issued through an institutional placing by Shore Capital (bookrunner) and Davy to raise gross proceeds of approximately £4.1m

Aminex also intends to conduct a non-underwritten open offer to raise up to approximately £2.6m through the issue of up to approximately 197.6 million shares The cornerstone investor, Eclipse Investments LLC, is wholly-owned by members of the Al Zubair family, who in turn own 100% of The Zubair Corporation LLC Aminex chief executive Jay Bhattacherjee said: "We are very pleased to announce this agreement with the Zubair Corporation. Zubair is a long-established international group and one of Oman's most significant and reputable companies.

"It has existing interests throughout Middle East and Africa, including Tanzania, in a variety of industries. With such a cornerstone investor together with the anticipated proceeds from the fundraising and the cash flow from Kiliwani production, Aminex will be well placed to build on its drilling success in the Ruvuma Basin of Tanzania and to realise the potential from the exciting Ntorya-2 and Ntorya-3 wells."

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Pantheon Resources [LON:PANR] has been granted the permit to perform the fracture stimulation test on the VOS#1 well.

"As part of this we also now have the opportunity to gain valuable data from the independent Austin Chalk zone, above the discovered Eagleford sandstone section," said CEO Jay Cheatham.

"I am also pleased to note that the VOBM#2H well is proceeding in line with expectations, which is a great achievement given it is the first horizontal Eagleford sandstone well in the area.

"We couldn't pass up the opportunity to frack the Austin Chalk in this vertical well."

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The sector's biggest risers were Xtract Resources [LON:XTR] and Petrel Resources [LON:PET] - up by more than 13.1% and 9.8% respectivley in late trading.






At 4:09pm:

[LON:AEX] Aminex PLC share price was -0.08p at 1.28p

[LON:AUR] Aurum Mining PLC share price was 0p at 0.9p

[LON:BOR] Borders Southern Petroleum PLC share price was +0.01p at 1.88p

[LON:CHAR] Chariot Oil Gas Ltd share price was +0.1p at 5.63p

[LON:ENQ] EnQuest Plc share price was +0.38p at 29.88p

[LON:GKP] Gulf Keystone Petroleum share price was +0.28p at 4.38p

[LON:GPX] Gulfsands Petroleum PLC share price was 0p at 3.13p

[LON:INDI] Indus Gas Ltd share price was -4.87p at 217.63p

[LON:NTOG] Nostra Terra Oil Gas Company PLC share price was -0.25p at 2.38p

[LON:PANR] Pantheon Resources PLC share price was -1.62p at 132.63p

[LON:PET] Petrel Resources PLC share price was +0.63p at 7p

[LON:RKH] Rockhopper Exploration PLC share price was -0.75p at 32.75p

[LON:RPT] Regal Petroleum PLC share price was -0.01p at 3.87p

[LON:XEL] Xcite Energy Ltd share price was +0.19p at 8.81p

[LON:XTR] Xtract Resources Plc share price was +0.01p at 0.11p



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