Northcote Energy has entered into a number of transactions which will significantly increase its exposure to the proven and producing Mississippi Lime formation in Osage County, Oklahoma.

This will be achieved through an agreement to acquire 100 per cent. of the outstanding membership interests of Oklahoma Energy LLC ('OKE') ('the OKE Acquisition' or 'OKE Agreement') and through the exercise of the remaining Horizon option together with a further acquisition to increase the Company's working interest ('WI') in the producing Horizon Project ('the Horizon Project') from an average 37.5% to an average 50.15% (net revenue interest ('NRI') - 39.80%).

OKE is the operator and holder of a 100% WI in 1,040 acres in Oklahoma that are currently held by production and, in the Board's view, have significant potential to produce from the proven Mississippi Lime formation ('the OKE Project').

Tags: Northcote Energy