AOGL.L Regulatory News (AOGL)

Northcote Energy Ltd / Index: AIM / Epic: NCT / ISIN: VGG6622A1057 / Sector: Oil & Gas 2 February 2015 Northcote Energy Ltd (`Northcote' or the `Company') Sale of Non-Core Assets Northcote (AIM: NCT), an onshore US oil and gas exploration and productioncompany, is pleased to announce that, in line with its strategy to dispose ofcertain non-core assets in its portfolio, it has agreed to sell its over-ridingroyalty interests (`ORRI') on certain Oklahoma wells within the Company'sportfolio (`the Sale') for a cash consideration of US$142,000. The wells and associated ORRI interest for each are: Unit/Lease ORRI Zink Ranch wells 2.7% - 4.5% Mathis and Horizon wells 2.1% - 2.2% Burkhart #3 1.8% As at 31 December the package sold represents 3.9 BOEPD (48.8% Oil) net toNorthcote, therefore the adjusted production number announced 14 January 2015should be reduced for this disposal. The sale will complete once the assignmenttransfer has been approved by the Bureau of Indian Affairs or, if later, 27February 2015. Northcote Managing Director Randall Connally said, "This is the first of fourplanned asset packages that we plan to offer as part of our strategy to unlockcapital from non-core lower return assets. This sale frees up capital to focuson higher return and higher upside assets such as the producing Shoats Creekfield in Louisiana and the Zink Ranch Project in Oklahoma and the funds willhelp us in refinancing of our facility with Darwin." **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 7024 8391 Roland Cornish Beaumont Cornish Ltd +44 20 7628 3396 Jon Belliss Hume Capital Securities plc +44 20 3693 1470 Abigail Wayne Hume Capital Securities plc +44 20 3693 1470 Stefan Olivier Cornhill Capital Limited +44 20 7710 9618 Hugo de Salis St Brides Partners Limited +44 20 7236 1177 Elisabeth Cowell St Brides Partners Limited +44 20 7236 1177 Notes: Northcote Energy Ltd is a producing oil & gas company with a portfolio of USexploration and production assets in Oklahoma and Louisiana. The Company hassubstantial acreage in the US where its primary focus is on the Pennsylvanianand Mississippi Lime formations. Northcote is currently undertaking acontinuous 2014 work programme which includes recompletions, new wells, fracksand workover programmes in order to grow Northcote's production and reserves.