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

29 June 2015

Northcote Energy Ltd ('Northcote' or 'the Company')

Divestment of Interest in East Blackwell

Northcote (AIM: NCT) is pleased to announce that, in line with its strategy to dispose of certain non-core assets in its portfolio, it has sold its 100% working interest ('WI') in the East Blackwell Skinner Sand Unit in Kay County, Oklahoma ('East Blackwell') to a private party for US$75,000 in cash. 

East Blackwell has historically contributed approximately 2 barrels of oil gross per day. Taken together with the cash flow received from the property during Northcote's ownership, the Company has approximately broken even on the investment. 

Northcote Managing Director Randall J Connally said, "The disposal of East Blackwell is the continuation of our strategy to generate capital from non-core assets to focus on those properties in our portfolio that have high-impact potential and are capable of delivering excellent returns for our shareholders."

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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, such as its participation agreement with MX Oil PLC and agreement with Gaia Ecologica as well as Indonesia via a strategic relationship with CEB Resources.