Restructuring of Promissory Notes

9 MARCH 2009
NOSTRA TERRA OIL AND GAS COMPANY PLC ("NTOG" or the "Company")

RESTRUCTURING OF PROMISSORY NOTES

Further  to  the  announcement on 24 December 2008, Nostra  Terra  Oil  and  Gas
Company  plc, the AIM-listed oil and gas company, hereby announces that  it  has
agreed to the restructuring of certain of its liabilities as follows:

(1)  The  Company  has  agreed with its wholly owned  subsidiary,  Nostra  Terra
(Overseas)  Limited  ("NTOL"), and Nikea Nominees  Limited  and  Nikea  Trustees
Limited (together "Nikea") to an assignment and variation of the promissory note
dated  25  May 2007 in the sum of US$1,838,928 whereby the amount due  from  the
Company  to  Nikea  is reduced by 75% to US$459,732 (the "Nikea  Sum")  and  the
obligation to repay the Nikea Sum is assigned to NTOL. In addition interest will
no  longer  be  payable  on the Nikea Sum and the Nikea  Sum  will  be  due  for
repayment  on or before 30 November 2012 with no contingency based on  the  cash
flow  from  the Company's wells. A provision allowing the parties to assign  the
promissory note has also been inserted.

(2)  NTOL  has  agreed with Ucoco Energy, Inc ("Ucoco") to a  variation  of  the
promissory note dated 10 May 2006 as amended by deed of variation dated  25  May
2007  in  the sum of US$159,744.50 whereby the amount due from NTOL to Ucoco  is
reduced  by  75%  to US$39,936 (the "Ucoco Sum"). In addition interest  will  no
longer  be  payable on the Ucoco Sum and the Ucoco Sum will be due for repayment
on  or  before 30 November 2012 with no contingency based on the cash flow  from
the Company's wells.

(3)   NTOL   has   agreed   with  Nikea  and  Masterworks   (Overseas)   Limited
("Masterworks")  to  a variation of the promissory note dated  25  May  2007  as
partially assigned by deed of assignment dated 14 November 2007 in the total sum
of  US$436,460  whereby  the  amount due from NTOL  to  Nikea  is  reduced  from
US$194,161 by 75% to US$48,540.25 and the amount due from NTOL to Masterworks is
reduced  from US$242,299 by 75% to US$60,574.75 (together the "Nikea/Masterworks
Sum").  In  addition interest will no longer be payable on the Nikea/Masterworks
Sum  and  the  Nikea/Masterworks Sum will be due for repayment on or  before  30
November  2012  with  no contingency based on the cash flow from  the  Company's
wells.

Details  of the original promissory notes are set out in the Company's admission
document dated 25 June 2007.

For further information contact:

Nostra Terra Oil and Gas Company plc
Brian Courtney, Chief Executive Officer        [e-mail]
Stephen Oakes, Non-executive Director          Tel: [phone]


Blomfield Corporate Finance Limited            Tel: [phone]
Alan MacKenzie
Peter Trevelyan-Clark

END