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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Nevada Organic Phosphate Inc | CSE:NOP | CSE | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.06 | 0.05 | 0.06 | 0 | 09:50:10 |
Embargoed: 0700hrs 22 December 2003 Northern Petroleum Plc ("Northern Petroleum" or the "Company") Acquisition of Interest in Horndean Oil Field and Extension of an Option over Licence PEDL 089 The Board of Northern Petroleum is delighted to announce that its wholly owned subsidiary, Northern Petroleum (GB) Limited, has acquired a 10% interest in Horndean Oil Field, licence PL211, from Edinburgh Oil and Gas plc for a total consideration of £200,000 cash. The field is situated in the Weald basin region of Hampshire, Southern England, and has been in production since 1988. The current level of production is approximately 230-240 barrels of oil per day. Derek Musgrove, Managing Director, commented, "We are obviously very pleased to have acquired an interest in this valuable field. Importantly this acquisition will further consolidate Northern Petroleum's position as a leading oil explorer in the South of England. Horndean is surrounded by our licence PEDL 126 and in close proximity to a number of our other licences. We look forward to working with Star Energy UK Onshore Limited, the Operator, to produce positive results for our shareholders and to reporting further developments in a region which we believe has great potential." The acquisition has received the requisite approval from the Secretary of State for Trade and Industry. The Company also announces that it has been granted, until 31 January 2004, an extension of its option announced on 23 September 2003 to acquire further interests in PEDL 089 in the Wessex basin from Wessex Exploration Limited. This is due to late availability of certain well and seismic data. -Ends- For further information please contact, Derek Musgrove, Managing Director Northern Petroleum Plc Tel. 020 7743 6080 Chris Roberts / Ben Simons Hansard Communications Tel. 020 7245 1100 END
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