Northcote Energy finds hydrocarbons in Louisiana well

Northcote Energy's Luther Moore 20 well has reached its target depth of 5,500 feet and encountered hydrocarbons.

The Shoats Creek site in Louisiana fell in line with geological yield expectations, with casing and logging operations already scheduled for next week.

Data will be recovered from electric logs within the next few days, which will provide further insight into the well's commerciality.

As of 9:30 BST, Northcote was trading 1.6% lower at 0.18p.