Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Northcote Energy Ltd MD: Shoats Creek still attractive despite oil price

Randy Connally, managing director of Northcote Energy Ltd (LON:NCT) joins Proactive Investors to discuss the two transactions that will accelerate the development of the Shoats Creek project in Louisiana.

The firm has agreed to sell a 50% working interest in the most recently drilled well at the project - Lutcher Moore 20 - to Gulf Coast Western Inc, and Connally says “this deal will do a lot to get the field developed in a timely manner by bringing in a partner - not to mention the specific financial benefits that we have picked up.”

Northcote also announced it has acquired an additional 20% working interest in the project’s Cockfield play from partner and the operator Shoats Creek Development, and the MD says that Shoats Creek “remains attractive at current oil price levels.”

 
Meet Allergy Therapeutics plc, Cello Group plc, Sphere Medical Holding PLC and ValiRx Plc at our event, London, 06 October 2016. Register here »


Register here to be notified of future Mayan Energy articles
View full MYN profile

Mayan Energy Timeline

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.