Northern Petroleum Share Discussion Threads

[surfer2] 28/7/2011 10:35

hmmmmm

3 Billion bbls and a few TCF is one thing if the area is undrilled and the company are wildcatting like TRP , Des or DPL. its a bit more intruiging when theres a couple of proven oil fields a few km away from the prospects......

[sg31] 28/7/2011 10:32

It's an island near Italy.

Let me know if there's anything else I can help you with.

[soulsauce] 28/7/2011 10:22

I suppose having been awarded them on 16th Feb 2006 then over 5yrs later you would expect them to be some sort of priority.
Anyone anything on Sicily??

[soulsauce] 28/7/2011 09:12

Derek Musgrove, Managing Director of Northern, commented:

"Exploration of the Southern Adriatic area is a major priority for Northern"

LOL, how long they had these licences?

Seismic this year, look for drillable targets next year and other farm-ins, source rig the folowing year, drill late 2013.

Yawn!!

[maxk] 28/7/2011 09:04

lol, morning.

[bionicdog] 28/7/2011 08:14

I'd advise folk to get in while they can before they get killed in the rush.
Charles and his city mates are trying to keep a lid on it while he fills his boots , but they can't manage it for long.

[ed 123] 28/7/2011 08:12

Oh, you're too unkind. ;-/

Northern are going to,

... now intensify our planning of the next phase of work on these permits.

Nice phrase, that one. If ever I'm questioned about lack of progress ...

WINS bid for 10,000 shares at the opening. Filled and now trying to sell them at 81p. We'll see.

[bionicdog] 28/7/2011 07:40

Great news. MMs have been caught napping and are short of stock. The price is going to explode etc etc.

[valhalla3] 28/7/2011 07:07

zzzzzzzzz P=#

[valhalla3] 28/7/2011 07:05

newz! TIDMNOP

Embargoed for release: 0700 on 28 July 2011

Northern Petroleum Plc

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

Operations Update - Southern Adriatic

Northern (AIM:NOP) announces an update on its Southern Adriatic permits
containing theRovesti and Giove oil discoveries,which hold a combined 53.2
million barrels of 2P reserves.

Highlights:

* Approval of increase in work programme on each of Southern Adriatic permits
F.R39 .NPand F.R40.NPto include 3Dseismicof up to a maximum of 600 sqkm by
Ministry of Economic Development;

* Contract signed for a 2D seismic survey over permits F.R39.NP and F.R40.NP,
with survey scheduled to commence in late Q3 / early Q4 2011 to assist with
de-risking of significant exploration prospects; and

* Planning for two 3D seismic surveys scheduled for Q4 2011 will now
intensify, targeting the Rovesti and Giove oil discoveries and asignificant
exploration prospectwithin theF.R39.NP and F.R40.NPpermits.

Northern has been advised by the Ministry of Economic Development (the
"Ministry") that it has approved an increase in the work programmes for permits
F.R39.NP and F.R40.NP from 300km of 2D seismic to include in addition up to a
maximum of 600 sqkm of 3D seismic acquisition on each permit.

The first operation to be conducted under this enhanced work programme will be
the acquisition of 2D seismic, which Northern has just contracted CGG Veritas
Service SA ("CGG Veritas") to undertake. This survey is planned to enable the
de-risking of several exploration prospects within the two permits, and
compliment the planned 3D seismic acquisition focused on the Rovesti and Giove
oil discoveries. Subject to receipt of necessary approvals, the CGG Veritas 2D
survey is scheduled to commence in late Q3 / early Q4 2011.

The Ministry approval allows us to now intensify our planning of the next phase
of work on these permits. A 3D seismic survey is scheduled, subject to receipt
of necessary approvals, for Q4 2011 to cover the Rovesti and Giove oil
discoveries and is also aimed at the de-risking of one significant prospect
within the F.R39.NP and F.R40.NP permits. This 3D seismic acquisition, and the
processing of the resultant data, will be the first activity funded entirely by
Azimuth Limited ("Azimuth"), a specialist global E&P business, under the terms
of the agreement first announced on 25 March 2011.

The Giove and Rovesti oil fields have previously been independently assessed by
Blackwatch Petroleum Services to have 53.2 million barrels of 2P oil reserves.
In addition, as a result of work undertaken to date, Northern recognises the
potential both for oil prospects with a mean of over 3 billion barrels of oil
in place and gas prospects with a mean of over 2 Tcf of gas in place, which is
over 1 billion barrels oil equivalent of prospective resource in the two
permits, split approximately equally between oil and gas prospects.

Derek Musgrove, Managing Director of Northern, commented:

"Exploration of the Southern Adriatic area is a major priority for Northern, so
I am delighted to be able to report greater visibility on our forward plans as
a consequence of the approval of our enhanced work programmes for the F.R39.NP
and F.R40.NPpermits. CGG Veritas should be commencinga 2D surveyin late Q3 /
early Q4, and we look forward to also firming up the 3D surveys, the first
activities with our new partner, Azimuth, within our 2011 programme.

"I further note the recent offshore permit award announced by ADX Energy, which
after a twelve month hiatus I am hopeful is a positive sign of the start of the
award of new offshore permits to both Northern and other applicants."

Aaron D'Este, CEO of Azimuth, commented:

"Receiving Ministry approval for the enhanced work program is excellent
news. We already know that there is an active petroleum system in the Adriatic
basin and 3D seismic is the natural next step to highlight commercial
accumulations. Working closely with our partner, we will complete the planned
surveys as quickly and safely as possible, and then move on to defining
drillable targets early in the New Year."

Glossary

2P Proved and Probable

2D, 3D Two/three dimensional (in relation to seismic surveys)

Probable Probable reserves are those unproved reserves which analysis
of geological and engineering data suggests are more likely than not to be
recoverable in this context and when probabilistic methods are used, there
should be at least a 50 per cent probability that the quantities actually
recovered will equal or exceed the sum of estimated proved plus probable
reserves.

Proved Proved reserves are those quantities of petroleum which, by
analysis of geological and engineering data, can be estimated with reasonable
certainty to be commercially recoverable, from a given date forward, from known
reservoirs and under current economic conditions.

Tcf Trillion cubic feet

In accordance with the AIM Rules - Guidance for Mining and Oil & Gas Companies,
the information contained in this announcement has been reviewed and signed off
by the Exploration & Technical Director of Northern, Mr. Graham Heard CGeol.
FGS, who has over 35 years experience as a petroleum geologist.

- ENDS -

For further information please contact:

Northern Petroleum Plc Tel: [phone]

Derek Musgrove, Managing Director

Chris Foss, Director of Finance, Legal &
Corporate Affairs

Cenkos Securities (NOMAD and Joint Broker) Tel: [phone]

Jon Fitzpatrick

Jefferies International (Joint Broker) Tel: [phone]

Chris Snoxall

Financial Dynamics Tel: [phone]

Billy Clegg / Edward Westropp

Bishopsgate Communications Tel: [phone]

Nick Rome / Michael Kinirons

Notes to Editors:

About Northern

Comprehensive information on Northern and its oil and gas operations, including
all press releases, annual and interim reports and Company presentations are
available from Northern's website at www.northpet.com.

About Azimuth

Azimuth Ltd is a specialist E&P business backed by both Petroleum Geo-Services
and Seacrest.



END

[valhalla3] 27/7/2011 18:21

nyce 1 galloper cant beet a 20p pint me duk! Y=#

[bionicdog] 27/7/2011 17:38

Terrible day and it closed on the offer.

[gall0per] 27/7/2011 13:20

Val brewing some Muntons Traditional Bitter at the moment. Reckon be about 20p a pint.

[bionicdog] 26/7/2011 20:10

No , he's had me looking for bloody sheep in the garden.

[maxk] 26/7/2011 19:54

Evening all, I've started!


Anyone else??

[bionicdog] 26/7/2011 18:03

No sheep around here , there is a cat that comes into the garden.

[valhalla3] 26/7/2011 17:01

get on teh blak sheep me duk H=#

[bionicdog] 26/7/2011 16:17

48th actually , but thanks for the concern , I've had a hard life.

[valhalla3] 26/7/2011 15:39

I cant garanty owt me duk imyte be lol appy bday 4 tehn is this the 4menshuned 80th! well dun ole chap just rememba dont get 2 excited lol J=#

[bionicdog] 26/7/2011 14:03

Val
We are having a little birthday gathering in a few weeks time. Can I confirm that you will not be in the general area with your homebrew on Sunday the 28th August.

[valhalla3] 26/7/2011 13:29

wel sed gall u got owt on teh go atm? beetz payin 3qwid in teh lokal G=#

[gall0per] 26/7/2011 12:55

Skid get in the shed a get the home brew on.

[valhalla3] 26/7/2011 10:48

do it skid ull neva luk back lol literaly V=#