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Northcote Energy to purchase additional interest in Shoats Creek


Published Oct 26, 2015
Northcote Energy

Northcote has entered into an agreement with Springer Oil & Gas, LLC, its partner in the acquisition of the Shoats Creek Field, whereby Northcote has agreed to purchase all right, title and interest in SOG's proportionate interest in the Wilcox Unit and all related assets for US$150,000 to be paid via the issuance of 65,681,445 ordinary shares (no par value) of Northcote Energy Limited.

The Company has made an application for the 65,681,445 Shares to be admitted to trading on AIM and it is expected that admission will occur at 8.00 a.m. on 29 October 2015. These shares will rank pari passu in all respects with the Company's existing Ordinary Shares.

Northcote Managing Director Randall J. Connally said,'Consolidating this additional interest in the Wilcox unit will allow us to more effectively work with our partner, Indigo Minerals, LLC, on future development activities in this deeper high impact formation at Shoats Creek.'

Tags: Northcote Energy




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