28th May 2015 08:21
LONDON (Alliance News) - Northcote Energy Ltd on Thursday said drilling at its Shoats Creek property in Louisiana will start as soon as possible.
Work at the site has been delayed by a prolonged period of poor weather conditions in the region, the company said, and drilling will start once this passes.
"Our permitting and other regulatory requirements to drill a new well at Shoats Creek are all in place and our drilling contractor is on standby for a break in the historic series of thunderstorms and rainfall that have inundated parts of Louisiana, Texas and Oklahoma with flooding this year. Once the weather clears and the ground has had a chance to dry out, we will be commencing with the new drill immediately," said Northcote Managing Director Randall Connally.
Shares in Northcote were down 2.3% to 0.210 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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