AOGL.L Regulatory News (AOGL)

NORTHCOTE ENERGY LIMITED - Complete Infrastructure Upgrades at Shoats Creek

PR Newswire

London, February 1

Northcote Energy Ltd / Index: AIM / Epic: NCT / ISIN: VGG6622A1057 / Sector: Oil & Gas

2 February 2016

Northcote Energy Ltd (‘Northcote’ or ‘the Company’)

Completion of Infrastructure Upgrades at Shoats Creek Field

Northcote is pleased to announce the completion of the planned infrastructure upgrades at the Shoats Creek Field in Louisiana. Following the completion of the infrastructure upgrades, which have been inspected and approved by the State, the field is fully equipped to support production from the LM#20 well as well as production from future Frio wells up to an estimated capacity of 1,500 BOPD. The infrastructure work completed includes:

At the LM#20 well, production operations are now commencing and the production rate will be reported in due course after rates have stabilised.

Northcote Managing Director Randall J. Connally said, “This is an exciting time for Northcote and we expect this well to generate substantial cash flow at current prices. The economics of the Frio formation at Shoats Creek are fairly strong at US$40 and US$50 oil prices and thus preparation for drilling additional wells continues. Timing and other information regarding our 2016 plans will be released in due course, and we look forward to further developing what we believe is a great oilfield this year."

**ENDS**

For further information visit www.northcoteenergy.com or contact the following:

Notes:

Northcote Energy Limited is an entrepreneurial energy company with diverse interests. The Company combines a portfolio of US exploration and production assets in Louisiana and Oklahoma with the development of new business opportunities in the US and also in Mexico as well as Indonesia via a strategic relationship with Andalas Energy and Power Plc.