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NOP Nevada Organic Phosphate Inc

0.06
0.00 (0.00%)
03 Jul 2024 - Closed
Delayed by 15 minutes
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
  0.00 0.00% 0.06 0.05 0.06 0 09:50:10

Acquisition(s)

22/12/2003 7:01am

UK Regulatory


    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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