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

    6 January 2016

                                 Northcote Energy Ltd                              

                            ('Northcote' or 'the Company')                         

                                     Board Change                                  

    Northcote Energy Limited announces that Daniel Jorgensen has stepped down as
    Financial Director of the Company with immediate effect.  This is part of a
    planned restructuring of the Company's finance function which has seen the
    recruitment of a qualified, US based financial controller and will see the
    finance team located in the US.  Dan will continue to work with the Company to
    effect an orderly transition of his responsibilities whilst the Company
    considers additional appointments complementary to its current Board.

    Northcote CEO, Randall J. Connally said, "We would like to thank Dan for his
    dedication and service to the Company since our IPO and wish him all the best
    in his future endeavours.  We have built a strong finance team in Dallas so
    that reporting and accounting functions are close to operations.  We will be
    announcing additions to our Board of Directors in due course with an emphasis
    on increasing both US and oil industry presence."

                                       **ENDS**                                    

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

    Randy Connally            Northcote Energy Ltd           +1 214 550 5082       
                                                                                   
    Ross Warner               Northcote Energy Ltd           +44 7760 487 769      
                                                                                   
    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 as well as Indonesia via a strategic
    relationship with CEB Resources.