Northcote is pleased to announce test results for the Lutcher Moore #20 well (LM #20) at Shoats Creek Field, Beauregard Parish, Louisiana in which it owns a 93% working interest, of 260 barrels of oil and 500 mcf of natural gas per day (or 340 barrels of oil equivalent per day on the basis of 6 mcf of natural gas per barrel of equivalent).
Northcote Managing Director Randall J. Connally said,'We have been very pleased with this well during every step of drilling, completion and testing. The well has substantially exceeded our pre-drill expectations in multiple areas including thickness of pay-zone, oil cut and daily rates achieved during testing. We used the very best geological and engineering consultants as well as latest thinking in the techniques and equipment available for development of this formation. We believe this outcome validates that Shoats Creek has substantial development potential and underscores the original rationale for our acquisition of this company making oil and gas asset both initially from Aminex and then the acquisition more recently of NAP USA, Inc.