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NOP Nevada Organic Phosphate Inc

0.05
-0.01 (-16.67%)
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
  -0.01 -16.67% 0.05 0.05 0.06 0.05 0.05 0.05 4,075 16:48:44

Commencement of Drilling

18/07/2003 8:00am

UK Regulatory


RNS Number:7003N
Northern Petroleum PLC
18 July 2003


Embargoed 0700hrs 18 July 2003


                             Northern Petroleum Plc
                                  ("Northern")

                            Commencement of Drilling


Northern Petroleum Plc ("Northern") announces the commencement of drilling of
Avington-2 near the Stockbridge oil field close to Winchester. The objective of
the well is to test the oil found in the Jurassic Great Oolite reservoir during
the drilling of Avington-1 in 1987.


The well will be drilled in two stages. Initially, a deviated hole will be
drilled to a target depth of about 1285 metres (4220 feet) below surface to
provide reservoir information in order that an election may be made to drill a
horizontal completion hole of some 610 metres, (2000 feet), to optimize
production from the well. The well is expected to take 25 to 30 days to
completion.


Northern Petroleum (GB) Limited has a 5% interest in the well subject to the
granting of approvals from the Secretary of State for Industry. Pentex Oil UK
Limited, the Operator, has a 50% interest and the other partners are Egdon
Resources (U.K.) Limited with a 20% interest, YCI Resources Limited with a
16.67% interest and Sterling Resources (UK) Limited with an 8.333%.


Northern also holds options from Sterling Resources (UK) Limited which expire on
31st August 2003 to acquire, at cost, 5% of the adjacent PEDL 069 and PEDL 110
licences.


                                     -Ends-


For further information please contact,


Derek Musgrove, Managing Director
Graham Heard, Exploration Manager
020 7743 6080


Chris Roberts / Ben Simons
Hansard Communications
020 7245 1100 / 0771 309 0135




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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