Northcote has registered for, and been granted, access to the data room being administered by the National Hydrocarbons Commission ('CNH') in order to assess such development opportunities. This is part of the ongoing reopening of the vast Mexican energy sector to international companies.
Northcote is participating in Round 1 of Phase III of the CNH's tender process. As part of Phase III, a total of 26 Land Contract Areas in the states of Chiapas, Nuevo Leon, Tabasco, Tamaulipas and Veracruz will be awarded to companies that satisfy the pre-qualification requirements and win the subsequent tender process. It is anticipated that concessions under Phase III will be awarded in December 2015. Northcote is preparing its prequalification package and will announce further information on its progress in due course.