14th Oct 2013 08:06
LONDON (Alliance News) - Northcote Energy Limited said Monday that it had acquired a 78% working interest and a 54% net revenue interest in 1,520 mineral acres in Osage County from Northam Oil Company for USD1 million.
"This acquisition, facilitated by our recent GBP1.75 million fundraising, fits perfectly with our strategy of acquiring productive acreage with extensive low cost/high impact development opportunities," said Chief Executive Officer Randy Connally in a statement.
Shares in Northcote are down 2.2% to 1.1 pence in early trading Monday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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