Positive Drill Update, Shoats Creek, Louisiana

Northcote Energy Ltd / Index: AIM / Epic: NCT / ISIN: VGG6622A1057 / Sector: Oil & Gas

21 July 2015

Northcote Energy Ltd ('Northcote' or 'the Company')

Positive Drill Update, Shoats Creek Project, Louisiana

Northcote (AIM: NCT) is pleased to announce that the Lutcher Moore #20 well ('LM#20'), targeting the Frio Formation at the Shoats Creek Project in Louisiana, has encountered approximately a ten foot (10') pay section in the Frio 5030' Sand formation and has already initiated completion procedures by setting production casing. Further it is believed that the Company has successfully been able to get 2-3 feet structurally higher than the Lutcher Moore #16 well, which may increase the reserves recoverable by the new well. Perforation and testing of the well are planned for the week of 27 July 2015 with test rates to be announced to the market in due course.

The well was drilled as a twin to the Lutcher Moore #16 well, which produced over 100,000 barrels of oil prior to casing failure in 1984. Following the casing failure the well was unable to continue producing.

Northcote Managing Director Randall J Connally said, "We are very pleased with the pay we hit in the LM#20. All the signs from LM#20 point to success and therefore we feel as good about this well as we can at this point. Drilling, logging and casing operations have gone smoothly and we have seen oil shows both during drilling and while logging and casing the well. The two keys to making a solid well in this formation are a good cement job and good perforation of the pay zone to maximise oil and minimise water production. Our top team of engineering consultants asked for some extra time to analyse the logs and plan the final phases of completion to make the best well possible, both in terms of initial IP and maximising long term recovery from the well. We look forward to providing a further update after we have perforated and tested the well."

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All of the technical information contained in this announcement has been reviewed internally by the Company's Technical Director, Mr. Kevin Green, a Petroleum Geologist who is a suitably qualified person with over 30 years' experience in assessing hydrocarbon reserves. Mr Green has reviewed the release and consents to the inclusion of the technical information.

For further information visit www.northcoteenergy.com or contact the following:

Notes:

Northcote Energy Limited is an entrepreneurial energy company with diverse interests. The Company combines a portfolio of US exploration and production assets in Louisiana and Oklahoma with the development of new business opportunities in the US and also in Mexico, such as its participation agreement with MX Oil PLC and agreement with Gaia Ecologica as well as Indonesia via a strategic relationship with CEB Resources.