Northcote announces the initial positive results from its successful fracture stimulation ('frac') of its Big Hill #1 well at the Horizon Project, Osage County, Oklahoma, in which Northcote has a 51.75% working interest (41% Net Revenue Interest) and an update on the testing of Big Hill #2.

Key Highlights

• Testing on the Big Hill #1 well, the first in the four to six well frac programme reported: ◦ Open flow rate of up to 1,210 Mcf/day of natural gas (215.5 boepd gross, 88.4 net to Northcote) representing a 1,200% increase on the 3 month average production prior to stimulation ◦ o Average since completion of the frac of 16 barrels (gross) of oil per day, where previously the well had not been an oil producer, providing further encouragement that the fracture stimulation has enabled the well bore to open up unexploited reservoir ◦ o At open flow, inclusive of the oil production, the well has demonstrated the potential to produce up to 231.5 boepd (net to Northcote 95boepd)

Tags: Northcote Energy