To hear an audio interview with MD Randy Connally discussing this achievement, please follow this link: http://www.brrmedia.co.uk/event/113966/?popup=true Northcote Energy Ltd / Index: AIM / Epic: NCT / ISIN: VGG6622A1057 / Sector: Oil & Gas 7 August 2013 Northcote Energy Ltd (Northcote Energy or the Company) Production Exceeds Production Target Northcote Energy (AIM: NCT), an onshore US oil and gas exploration and production company, is delighted to announce that it has met its 31 December 2013 production target, 5 months ahead of schedule, by achieving net production in excess of 100 barrels of oil equivalent per day (BOEPD). Highlights
* Net production of over 100 BOEPD was achieved in July 2013 following completion of the Little Drum pipeline programme * Net production target reached five months ahead of schedule and represents a 250% increase on production levels at admission in January 2013 * Northcote now targeting net production of 250 BOEPD by 31 July 2014.

Fully funded initiatives expected to result in further production increases include: * Frack results from Big Hill #2; * September 2013 frack campaign to commence at the Horizon Project; * Completion of Burkhart #1 well and results at the Bird Creek Project * Further activity for the next 12 months currently being planned includes: * Continuation of the frack programme at Horizon - five wells remaining to frack after two planned to commence September 2013 * Additional Layton and Mississippi Lime drilling including: * Mississippian well programme at the 100% WI OKE project * Mississippian well programme at the 100% WI Mathis project * Further drilling at Woods County and Bird Creek projects Northcote Energy Managing Director Randall Connally said, "To achieve our 12 month production target of 100 BOEPD just under seven months from listing is a momentous milestone.

We have worked hard to identify and execute a number of opportunities to grow Northcote, including the completion of accretive acquisitions, which have been complementary to the oil and gas initiatives that we have undertaken, the frack programme at Horizon and the workover programme at Oklahoma Energy.

This has resulted in our P1 PV10 increasing to US$61.94m, based on just two of our assets, and a 250% increase in our production levels. "We are focussed on growing Northcote to become a well balanced, independent US E&P company in the longer term and in order to achieve this we will continue our rapid growth by pursuing our strategy of completing work programmes that are expected to have an immediate impact on revenues and reserves.

Over the coming 12 months as we execute this strategy we expect that our operational initiatives and forthcoming, fully funded, frack programme will result in Northcote hitting its 12 month 250 BOEPD target on or before 31 July 2014." **ENDS** For further information and the full Admission document visit www.northcoteenergy.com, see below or contact the following: Randy Connally Northcote Energy Ltd +01 214 675 7579 Ross Warner Northcote Energy Ltd +44 7760 487 769 Dan Jorgensen Northcote Energy Ltd +44 (0) 20 7024 8391 Roland Cornish Beaumont Cornish Ltd +44 (0) 20 7628 3396 Jerry Keen Shore Capital Stockbrokers Limited +44 (0) 20 7408 4090 Bidhi Bhoma Shore Capital Stockbrokers Limited +44 (0) 20 7408 4090 Hugo de Salis St Brides Media and Finance Ltd +44 (0) 20 7236 1177 Elisabeth Cowell St Brides Media and Finance Ltd +44 (0) 20 7236 1177
Notes: Northcote Energy Ltd is a revenue generative US onshore oil and gas production company focussed on the rapidly emerging Mississippi Lime formation in Oklahoma.

The Company participates with leading operators, including Midstates Petroleum and Chesapeake Energy, in low risk development plays where advanced techniques, such as horizontal drilling and fracing, are used to unlock known oil accumulations and dramatically improve recovery rates.

Management is focused on increasing production through a multi-well drilling and fracking campaign in 2013.
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