![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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 |
RNS Number:5748O Northern Petroleum PLC 12 August 2003 Immediate Release: 12th August 2003 Northern Petroleum Plc ('Northern' or the 'Company') An important oil discovery has been made at Avington in Hampshire in which Northern Petroleum Plc ("Northern") has a 5% interest The well, Avington-2, on licence PEDL 070 has proven the existence of recoverable oil through a drill string test conducted over the weekend. The test was conducted in the "pilot hole" and a horizontal well is now being drilled to penetrate more of the reservoir in the productive horizon in order to expand the drainage area for the well and increase flow rates. The Avington-2 well in which Northern's subsidiary Northern Petroleum (GB) Limited holds a 5% interest under a recently concluded farmout agreement, has established "proven" oil in a structure with mapped volumes of oil in place in excess of 100 million barrels. The well is operated by Pentex Oil UK Limited with Egdon Resources (U.K.) Limited, Sterling Resources (UK) Limited and YCI Resources Limited and Northern Petroleum (GB) Limited as partners. Northern Petroleum also holds an option to acquire a 5% interest in the licence PEDL 069 immediately North of PEDL 070and into which the Avington structure extends. Derek Musgrove, Managing Director stated: "We could not be more pleased! This discovery is of major importance to Northern Petroleum. It has, at the first opportunity, proved our recently developed techniques to re-evaluate results of past exploration in the Weald Basin which took place in the period 1982 to 1990 which we consider were unrecognised oil discoveries. Our farm-in to Avington -2 provided the opportunity to validate our work at only ten percent cost of the pilot hole. Avington is the first success in the Weal Basin since the discovery of the Lidsey Oil Field in 1987. Northern has much greater holdings in nearby areas of the Weald Basin and has another six similar prospects on the recently awarded adjacent PEDL 125 and PEDL 126 in Hampshire and West Sussex in which we hold a 50% interest and are Operator. These cover an area in excess of 800 square kilometres. As a result of the success at Avington, Northern will be advancing drilling plans for those licences. Sandhills-2 is the next similarly targeted well that Northern Petroleum plans to drill in 2004 as Operator holding a 40% interest in licence PEDL 113 on the Isle of Wight. The potential for Northern is considerable for a company of our size. If realised it will result in an extraordinary expansion of Northern Petroleum Plc. In summary, a great start but the real significance is that there could be so much more to come". A map can sent by e-mail upon request. For further information: Derek Musgrove Managing Director 020 7743 6080 Graham Heard Exploration Manager 020 7743 6080 Chris Roberts Hansard Communications 020 7245 1100 This information is provided by RNS The company news service from the London Stock Exchange END MSCUUOAROURWAAR
1 Year Nevada Organic Phosphate Chart |
1 Month Nevada Organic Phosphate Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions