Northcote has been informed by Aminex USA Inc., the Operator of Shoats Creek, that it has signed a rig contract to drill a new conventional vertical well at Shoats Creek Field.
•The new well, the Lutcher Moore #20, has been prepared and permitted and the company has signed a drill contract with 3&1 Enterprises T&R, Inc and secured the drilling rig
•The new well will be drilled to c.5,500 feet targeting the conventional Frio Formation
•The Company is advancing its well engineering and completion options with consultants that are specialists in the local area to carefully plan the completion programme
•Success at the Frio will unlock significant field level cash flow, prove up reserves and open up further multiple development opportunities at Shoats Creek