Hi there Please see todays comment from Shore Capital regarding Northcotes news that it plans to significantly increase production and reserves through the acquisition of a working interest in a new prospect and its decision to participate in the deepening of an existing well.

The stock is up 7.7% to 1.7p this morning. NORTHCOTE ENERGY+ (NCT, 1.55p, No Recommendation) - Operations update. Northcote Energy has released an update on its operations in Oklahoma, where the company produces from the proven Mississippi Lime and Layton formations.

Northcote reports that preparations for a fracture stimulation programme at the Horizon project are proceeding according to plan, with the first frac due to begin in late February/early March.

The company has acquired a 3.125% working interest in the Bird Creek prospect in Osage County, where the company will participate in two wells to be drilled in the first half of 2013.

Northcote also announces that it has elected to participate in the deepening of the Burkhart #1 well on its Horizon project and, finally, that two wells in Woods County are in the process of being tied into gas sales lines. This is a positive update, in our opinion, and comes very soon after Northcotes announcement of the exercise of its option to increase its working and royalty interests in the Horizon Project; this deal was highly incremental to Northcotes reserves position in this exciting play, and we continue to expect continued strong growth in both reserves and production. Shore Capital Stockbrokers Limited acts as Joint Broker to Northcote Energy. Best Lizzie [cid:image001.png@01CE0F48.9FEA7DD0]