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 October 6, 2015 - 10:09 AM EDT
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NORTHCOTE ENERGY LIMITED - Consulting and Directors Shares

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

6 October 2015

Northcote Energy Ltd (‘Northcote’ or ‘the Company’)

Consulting and Directors Shares; Issue of Equity; Total Voting Rights

Further to the announcement dated 12 February 2015, the Directors have received their second quarterly tranche of their 2015 contracted remuneration in Ordinary Shares, being 22,222,222 Ordinary Shares (£20,000) in respect of Randall Connally, 22,222,222 Ordinary Shares (£20,000) in respect of Ross Warner 13,333,333 Ordinary Shares (£12,000) in respect of Charles Wood, together the “Settlement Shares”.  Accordingly, following the issue of all the Settlement Shares, the holdings of these Directors will be as follows:

Director Number of Ordinary Shares to be issued Number of Ordinary Shares following the admission of the Settlement Shares Percentage Holding of Enlarged Share Capital
Randall Connally 22,222,222 248,947,167 4.09%
Ross Warner 22,222,222 162,663,763 2.67%
Charles Wood 13,333,333 49,480,391 0.81%
TOTAL 57,777,777

Further issue of equity

The Company is also making an application for 20,000,000 Ordinary Shares to be admitted to trading on AIM. These Ordinary Shares are being issued in respect of consulting fees (`Consulting Shares').  It is expected that admission will occur on the Settlement Shares and Consulting Shares at 8.00 a.m. on 9 October 2015. These shares will rank pari passu in all respects with the Company's existing Ordinary Shares.

Total voting rights

Following the issue of the new ordinary shares as described above, the issued share capital of the Company will consist of 6,082,860,104 Ordinary Shares.  No shares were held in treasury at the date of this announcement.  The total current voting rights in the Company is therefore 6,082,860,104.

* * ENDS * *

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

Randy Connally Northcote Energy Ltd +1 214 550 5082
Dan Jorgensen Northcote Energy Ltd +44 20 7236 1177
Roland Cornish Beaumont Cornish Ltd +44 20 7628 3396
James Biddle Beaumont Cornish Ltd +44 20 7628 3396
Elliot Hance Beaufort Securities Ltd +44 20 7382 8300
Nick Bealer Cornhill Capital Limited +44 20 7710 9612
Elisabeth Cowell St Brides Partners Limited +44 20 7236 1177

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.


Source: PR Newswire (October 6, 2015 - 10:09 AM EDT)

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