Northern Petroleum Share Discussion Threads

[bionicdog] 15/6/2011 18:41

Dear oh dear , at least I come from the mean street of South London. Innit?

[howard s] 15/6/2011 18:34

Update, cool = sick. eg dat musgrove dude is sick

[bionicdog] 15/6/2011 16:45

Not very well in your case LOL!

[parthus] 15/6/2011 16:43

Is we doin' rasto talk now bro's ?

[bionicdog] 15/6/2011 16:34

Aye , true , keep it real , word up Chaz my main man.

[charles clore] 15/6/2011 16:14

bio hi man thats cool, lol

[bionicdog] 15/6/2011 11:24

Val
Don't ruin it by asking him about sheds.
Charles
Nice use of the word "cool" yesterday. Makes you sound all streetwise and down with the kids. :o)

[bionicdog] 15/6/2011 08:07

Well said , we could do with more like you on here. I would also add that most companies increase their P2 reserves as times goes by , at the same time turning P2 into P1 reserves , not decrease them.

[johnweaver] 14/6/2011 23:55

What Tom fails to accept is that NOP is fairly valued.
The discount value of reserves between NOP and similar companies is the premium others have earned for quality of their management.
NOP will not get this.

[maxk] 14/6/2011 23:39

What Tom really means is that he doesent have a clue, but is hoping for the best..

[charles clore] 14/6/2011 22:22

What Tom really means is the city doesn't understand Derek. But that's cool.

[valhalla3] 14/6/2011 18:41

wohh tehre dog calm down me duk av a pint or 5 n relax derekz got it all unda control lol his just ordad a new buscut tin E=#

[bionicdog] 14/6/2011 17:35

The more I read it , the more annoyed I get. How dare they say that the city does not appear to understand. The arrogance is stunning in the face of past evidence. In fact , I'm going to have to get a pint just to calm myself down.
I challenge T1PS to a fight , to take place after the AGM. If Tiny Tom wants to bring his mate MW along as well , that's fine by me.

[soulsauce] 14/6/2011 13:11

It is because the word 'accelerate' and NOP just don't go together, as much as they use it, and similar words to describe their hopeful progress, they never achieve it so why would the City understand it.

2vdm was there any apology in there to his t1ps fans for telling them NOP was a buy literally days before it lost a third of it's value?

Any who bought on that at 123p+ must be hurting. Well worth the subscription for that sort of info ;-)

[sg31] 14/6/2011 13:04

I must look "accelerating" up in the dictionary.

[bionicdog] 14/6/2011 12:48

"The City does not appear to really understand Northern's focus on accelerating exploration activities in Italy whilst seeking to increase production in The Netherlands."

That is certainly true.

[2vdm] 14/6/2011 12:26

Here's the tail end of a T1Ps report today stating it views NOP as a strong BUY at 80p
".....The City does not appear to really understand Northern's focus on accelerating exploration activities in Italy whilst seeking to increase production in The Netherlands. The truth is that Northern has actually always traded at a big discount to the sector based both on EV/2P and EV/Sales ratio. To keep matters in perspective, the fall in 2P reserves represents 15% of the complete portfolio although it accounts for almost half of the Dutch 2P gas reserves. So the latest weakness in the share price has simply served to increase these discounts still further. Even assigning Northern a rating equivalent to 30-40% of EV/2011 figures for Europa Oil & Gas or Faroe Petroleum, would give the stock a target price of 120p and that is without including €23 million of net cash which is worth an additional 21p per share. Although it might take some time for the company to regain the confidence of investors it now looks as though compared to any valuation metric that the stock appears to have been dramatically oversold. Our stance is therefore upgraded from Buy to Strong Buy with a 120p target price. "

[valhalla3] 14/6/2011 07:20

no newz is gud newz lol S=#

[maxk] 13/6/2011 23:56

I begin to wonder about Italy....

[estseon] 13/6/2011 21:12

Look at slides 10 - 13


Some of the Sicilian licences are on the border with Tunisian waters.

[estseon] 13/6/2011 21:00

Don't think that anything has changed since last July:

Embargoed for release: 0700 on 2 July 2010

Northern Petroleum Plc

("Northern", "the Group" or "the Company")

Preliminary analysis of effects of new Italian environmental proposals

Preliminary examination by the directors of Northern Petroleum Plc (AIM:NOP)
suggests that proposals as detailed in a posting on the official Ministry of
the Environment web-site, attributed to Environment Minister Stefania
Prestigiacomo, do not affect Northern's reported reserves in Italy or the
exploration prospectivity of the Southern Adriatic, and has limited or no
effect upon most other areas including the West of Sicily Thrust Belt.

The reported initiative to change legislation covers oil activities within five
nautical miles of the coastline and hydrocarbon activities within twelve
nautical miles of a marine or coastal protected area. The majority of
Northern's permit areas are further offshore.

The specifics of the immediate preliminary review, covering the effects upon
the Group's activities offshore Italy are outlined below.

Southern Adriatic (2permits, 3 preliminary awardsand 4applications)

The effect is extremely minor in aerial extent and has no effect on established
reserves or exploration prospectivity.

West of SicilyThrust Belt (6 permits, 4 preliminary awards and 1 application)

For the six permit area there is a minor aerial effect upon only one of the six
blocks, being the eastern part of G.R20.NP. Further study is required before an
assurance can be given to shareholders that it has no effect on any prospects
being developed.

The proposals could have effect upon a significant part of two of four
applications in the area (d21G.R-.NP & d25G.R-.NP). A more detailed examination
is required.

Sicily Channel (2 permits,2 preliminaryawardsand 3 applications)

There would be no effect upon permit C.R146.NP and the adjacent application
d351C.R-.NP, which contain the very large Vesta prospect.

C.R147.NP, north of Pantelleria Island, would be affected but the initial
review concluded that two prospects remain unaffected and only a partial effect
applies to three further prospects.

Closer to the coast of Sicily, the Company has four applications. One,
d30G.R-.NP, would be entirely unaffected. For another, d358C.R-.EL, on
Northern's interpretation it would appear that the area of greatest interest
would not be materially affected and in d29G.R-.NP, it appears that sufficient
of the structural lead remains unaffected.

It is clear that d347C.R-.NP will require more detailed review before offering
comment.

Ionian Sea(3 preliminary awards and 2 applications)

The greatest effect would be to interests in this area. If introduced the new
proposals would rule out most of the area of two preliminary awards d59F.R-.NP
& d64F.R-.NP, whereas d77F.R-.NP is entirely unaffected and the effects upon
d63F.R-.NP and d75F.R-.NP are considered minor. It may be that upon further
consideration a reaction to an oil well blow-out and resultant spill should not
apply to gas in the same way.

The Directors advise that previous discussions with The Ministry of Industry
and Economic Development had mainly concerned an agreement for a 3 nautical
mile limitation, which was accommodated and had little or no effect on the
Company's operations. There has been no prior consultation with the Ministry of
Environment on this initiative.

"I believe we are not badly affected save in the Ionian Sea, not our most
significant core area. We have always conducted ourselves with due
consideration to marine parks, sensitive coastal areas and the environment in
general. It is not surprising that the Italian Government would have some
reaction to events in the Gulf of Mexico and now we can move forward with their
views having been expressed." commented Derek Musgrove, Managing Director of
Northern.

[maxk] 13/6/2011 20:21

Evening girls.

So, the news was in the price!

blimey, its a hard ol biz for us retail suckers! (val excepted)

[bionicdog] 13/6/2011 17:37

Don't worry Val , you have to look at the bigger picture. It's a bit like watching Hustle , you don't know what Charlie has been up to until the very end. Then you find out that he's Keyser Söze or something like that anyway.