3 Apr 2013 15:15
NORTHCOTE ENERGY LIMITED - Completion of the OKE Acquisition and PlacingNORTHCOTE ENERGY LIMITED - Completion of the OKE Acquisition and Placing
PR Newswire
London, April 3
3 April 2013
Northcote Energy Ltd (`Northcote' or `the Company') Completion of the OKE Acquisition and PlacingNorthcote, an onshore US oil and gas exploration and production company, ispleased to announce that, further to the announcement by the Company on 25March 2013, the OKE Acquisition has now completed. As previously announced, theCompany has 120 days from completion of the OKE Acquisition to issue the OKEConsideration Shares to the Seller. The Company will make a furtherannouncement when the OKE Consideration Shares have been issued and will makean application for these shares to be admitted to trading on AIM.
The Company is also pleased to announce that the Placing Shares and the AdviserShares were admitted to trading on AIM at 8.00am today (`Admission'). FollowingAdmission, the Company's issued share capital consists of 991,412,716 OrdinaryShares, all with voting rights. The total number of current voting rights inthe Company is therefore 991,412,716. This figure (991,412,716 Ordinary Shares)may be used by shareholders as the denominator for the calculation by whichthey will determine if they are required to notify their interest in, or achange in their interest in, the Company
The Company will make further announcements upon completion of the acquisitionof the Eagle WI and the Horizon Acquisition.
Defined terms in this announcement not otherwise defined shall have the samemeaning as is ascribed to them in the announcement of 25 March 2013.
**ENDS**For further information and the full Admission document visitwww.northcoteenergy.com, see below or contact the following:
Randy Connally Northcote Energy Ltd +01 214 675 7579 Ross Warner Northcote Energy Ltd +44 7760 487 769 Dan Jorgensen Northcote Energy Ltd +44 (0) 20 7024 8395 Roland Cornish Beaumont Cornish Ltd +44 (0) 20 7628 3396 Jerry Keen Shore Capital Stockbrokers +44 (0) 20 7408 4090 Limited Bidhi Bhoma Shore Capital Stockbrokers +44 (0) 20 7408 4090 Limited Hugo de Salis St Brides Media and Finance +44 (0) 20 7236 1177 Ltd Elisabeth Cowell St Brides Media and Finance +44 (0) 20 7236 1177 Ltd Notes:Northcote Energy Ltd is a revenue generative US onshore oil and gas productioncompany focussed on the rapidly emerging Mississippi Lime formation inOklahoma. The Company participates with leading operators, including MidstatesPetroleum and Chesapeake Energy, in low risk development plays where advancedtechniques, such as horizontal drilling and fracing, are used to unlock knownoil accumulations and dramatically improve recovery rates. Northcote has abalanced mix of production and development projects with net proven reserves of665 Mbbl and 1,686 MMcf and a P1 PV10 of US$33.8m (as per CPR). Management isfocused on increasing production through a multi-well drilling and fracingcampaign in 2013.