STOCK WATCH

NOSTRA Terra Oil & Gas shot higher by as much as 38pc after it spent £318,000 buying an oil field in Texas that is already pumping out the black stuff – but the stock eventually fell back and closed flat at the end of trading.

Junior market-listed Nostra Terra will be producing 25pc more oil when the deal with Oro Resources and Oro East Texas completes.

It also issued new shares – but these will not dilute the value of its share price.

Shares remained at 0.23p.