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Northcote Energy Ltd / Index: AIM / Epic: NCT / ISIN: VGG6622A1057 / Sector: Oil & Gas 16 December 2013 Northcote Energy Ltd (`Northcote' or `the Company') Fourth Fracture Stimulation of 2013 Work Programme and Planned Completion of Burkhart #1 well Northcote (AIM: NCT), an onshore US oil and gas exploration and productioncompany, is pleased to announce that it has commenced work on the Moursand A-2well, in the Little Drum Unit in Osage County, Oklahoma in which Northcote hasan 51.75% working interest and 75.1% net revenue interest. This project willcomplete the targeted four well fracture stimulation programme planned for 2013with fracture stimulation of up to six additional wells targeted for 2014. Highlights: * Fourth frac commenced at Moursand A-2 and expected to complete within 5-7 days * Burkhart #1 to be completed in the Mississippian * First new well expected to spud in January at Mathis Unit where sell down of interests is proceeding as planned Northcote CEO Randall Connally said, "We continue to make excellent progress inimplementing our stated portfolio development strategy, bringing more wellsinto production, acquiring additional acreage and securing developmentpartners. We are excited about the fracture stimulation of the Moursand well,following the success of the acid frac on the West Little Drum well, whichcontinues to produce at 40 gross barrels of oil per day. Our technical staffmade a compelling case for adding the well to the programme, given the oilynature of historical production, and the ability we now have to handle theadditional oil and salt water production resulting from completion of theLittle Drum pipeline project this summer." "We are pleased to be completing Burkhart #1 in the Mississippian and adding itto our inventory of producing wells. This will dovetail with our first operatedwell on Mathis, which is a high impact new drill well in a proven oil fieldthat has produced over 1 million barrels of oil. The 3-D seismic validates thelocation as being in the best reservoir rock in the formation." Details The intended work programme for the Moursand A-2 will include a recompletionand acid fracture stimulation of the well bore and is expected to be finishedin 5-7 working days. The well, which is a vertical well bore, has been shut-insince prior to its acquisition due to water disposal constraints at the LittleDrum Unit. These constraints have been alleviated following the completion ofthe Little Drum water disposal pipeline in summer 2013. The inclusion of thiswell in the frac programme is significant as it was not evaluated inNorthcote's reserve reports and represents potential reserve and productionadditions. The Company expects to complete the work prior to year-end 2013 withresults expected in mid-to-late January 2014. Additionally, Northcote and its working interest partners have agreed plans tocomplete the Burkhart #1 well in which Northcote has a 3.69% working interestand 2.77% net revenue interest. This well was previously deepened to test theArbuckle formation but water saturation prohibited completion in that zone.Subsequent analysis has suggested that the well may be completed economicallyand produce from the Mississippian formation. The first new well location the Mathis project has now been permitted and thesurface location prepared for commencement of drilling operations. Drilling isexpected to commence early in 2014 after Northcote has finalised agreementswith all of its working interest partners. As previously announced, Northcoteintends to sell down interests in the Mathis Unit and the Company expects tocomplete the targeted sell down in the near future. **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 8391 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. Management isfocused on increasing production through a multi-well drilling and frackingcampaign in 2013.