4 Sep 2015 07:00
NORTHCOTE ENERGY LIMITED - Participating in Mexican Onshore Field Bid RoundNORTHCOTE ENERGY LIMITED - Participating in Mexican Onshore Field Bid Round
PR Newswire
London, September 3
Northcote Energy Ltd / Index: AIM / Epic: NCT / ISIN: VGG6622A1057 / Sector: Oil & Gas
4 September 2015
Northcote Energy Ltd (‘Northcote’ or ‘the Company’)
Participating in Mexican Onshore Field Bid Round
Northcote (AIM: NCT) is pleased to announce that, further to its previously announced intention to secure and develop onshore conventional fields in Mexico, the Company has registered for, and been granted, access to the data room being administered by the National Hydrocarbons Commission ('CNH') in order to assess such development opportunities. This is part of the ongoing reopening of the vast Mexican energy sector to international companies.
Northcote is participating in Round 1 of Phase III of the CNH’s tender process. As part of Phase III, a total of 26 Land Contract Areas in the states of Chiapas, Nuevo Leon, Tabasco, Tamaulipas and Veracruz will be awarded to companies that satisfy the pre-qualification requirements and win the subsequent tender process. It is anticipated that concessions under Phase III will be awarded in December 2015. Northcote is preparing its prequalification package and will announce further information on its progress in due course.
Whilst the Company is participating in the CNH tender process independently of MX Oil PLC, it still expects to participate in development opportunities identified by MX Oil PLC, as and when those opportunities arise.
Northcote Vice President – Mexico, Abraham Achar, said, "We believe this is a natural next step to leverage the relationships and business activities in which we are already engaged in Mexico, such as the ongoing construction of our first scalable environmental waste remediation facility in the State of Tabasco. We are very excited to have this opportunity to potentially increase our activity in what we continue to believe will be the most exciting energy story for the next decade."
* * ENDS * *
For further information visit www.northcoteenergy.com or contact the following:
| Randy Connally | Northcote Energy Ltd | +1 214 550 5082 |
| Ross Warner | Northcote Energy Ltd | +44 7760 487 769 |
| Dan Jorgensen | Northcote Energy Ltd | +44 20 7236 1177 |
| Roland Cornish | Beaumont Cornish Ltd | +44 20 7628 3396 |
| James Biddle | Beaumont Cornish Ltd | +44 20 7628 3396 |
| Elliot Hance | Beaufort Securities Ltd | +44 20 7382 8300 |
| Nick Bealer | Cornhill Capital Limited | +44 20 7710 9612 |
| Elisabeth Cowell | St Brides Partners Limited | +44 20 7236 1177 |
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.