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Northcote Energy announce positive frack update


Published Oct 8, 2013
Northcote Energy

Northcote commences the fracture stimulation of a third horizontal well on its 51% owned Horizon Project, Oklahoma. This forms part of a four well 2013 frack programme and is in line with the Company's strategy to build production and prove up the reserves on its leases in the Mississippi Lime formation.

Key Highlights

◾ The fully funded fracture stimulation of West Little Drum will commence this week: ◾ The frack equipment is arriving on site and operations will commence on 9 October 2013 ◾ The surface location has been fully prepared and the necessary water volumes have been procured

◾ The on-going fracture stimulation programme is in line with the Company's strategy to reach its 250 BOEPD production target by 31 July 2014, with additional work underway including: ◾ Drilling of a high impact horizontal Mississippi Lime well at 100% owned Mathis Project with spudding anticipated by the end of 2013 ◾ Continuation of work programme at OKE Project (100% WI) to achieve production target at that property of 50 BOPD gross by the end of the year ◾ Lauren Blaire, the last of the four Little Drum wells to be brought back online following completion of the pipeline project, is being brought online this week ◾ Results from on-going well completions across the Company's portfolio

Tags: Northcote Energy




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