14 January 2013 Proforma Schedule 1 Pre-Admission Announcement

Issue of Equity

RNS Number : 6992E
Northcote Energy Limited
12 February 2015

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

12 February 2015

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

Issue of Equity


Northcote (AIM: NCT) has issued 75,164,610 fully paid ordinary shares in the Company ('the Conversion shares') to Darwin Strategic Limited ('Darwin' or 'the note holder') following the receipt of a conversion notice, dated 30 January 2015. 


Under the terms of the Loan Note, the number of conversion shares required to satisfy the £100,000 loan amount, totalling 75,164,610 ordinary shares (representing 5.32% of the share capital of the Company enlarged for this share issue), was calculated using the conversion price of 0.133p.  Following conversion the outstanding balance of the nil coupon convertible loan note is £950,000.


The Conversion shares will rank pari passu in all respects with the Company's existing ordinary shares.  Application has been made for the admission of the Conversion shares to be admitted to trading on AIM ("Admission"), and Admission is expected to occur, and dealings are expected to commence, at 08.00am on 13 February 2015.


The Company has no Ordinary Shares held in treasury.  The total number of voting rights in the Company following the issue will be 1,412,731,660.  This figure may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.




For further information visit or contact the following:


Randy Connally

Northcote Energy Ltd

+1 214 550 5082

Ross Warner

Northcote Energy Ltd

+44 7760 487 769

Dan Jorgensen

Northcote Energy Ltd

+44 20 7024 8391

Roland Cornish

Beaumont Cornish Ltd

+44 20 7628 3396

Jon Belliss

Hume Capital Securities Plc

+44 20 3693 1470

Abigail Wayne

Hume Capital Securities Plc

+44 20 3693 1470

Nick Bealer

Cornhill Capital Limited

+44 20 7710 9618

Hugo de Salis

St Brides Partners Limited

+44 20 7236 1177

Elisabeth Cowell

St Brides Partners Limited

+44 20 7236 1177



Northcote Energy Ltd is a producing oil & gas company with a portfolio of US exploration and production assets in Oklahoma and Louisiana.   The Company has substantial acreage in the US where its primary focus is on conventional oil and gas opportunities in Louisiana and Oklahoma.  Northcote plans to undertake a new drill work programme at Shoats Creek in order to grow Northcote's production and reserves.




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