A disconnect assembly connecting two portions of a downhole assembly having a downhole apparatus attached to a coiled tubing string. The disconnect assembly includes a first housing connected to one portion of the downhole assembly and a second housing connected to another portion of the downhole assembly. The housings are releasably connected by a release assembly. The release assembly is coupled to a drive train on a motor by a connection transferring rotational motion into translational motion. The release assembly includes locking members having a connected position engaging both housings and a released position wherein the housings can be separated. The motor is connected to the surface by conductors extending through the coiled tubing whereby the motor may be actuated from the surface to move the release assembly between the connected and disconnected positions.
