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Description of business:
The Company, will, on Admission, own interests in existing oil and gas production and reserves in Oklahoma in one of the conventional resource plays in the USA, referred to as the Mississippian Lime Resources Play. This is a well known oil play that has now been re-opened as a result of the introduction of horizontal drilling and new technologies. The producing properties and behind-pipe reserves are reported net to the Company in the Competent Persons’ Report as a total P1 PV10 (proved net present value at a 10% discount rate) of US$33.8 million. The Company has raised £1 million (gross), conditional on Admission, to complement existing funding and enable the development of its interests including new wells and a fraccing programme on existing horizontal wells.

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Northcote Energy Limited (the "Company")

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