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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.005 | 10.00% | 0.055 | 0.055 | 0.06 | 0.055 | 0.05 | 0.05 | 192,040 | 19:43:34 |
For immediate release 5 January 2004 Northern Petroleum Plc New Licences Awarded in Italy Northern Petroleum Plc is delighted to announce that its wholly owned subsidiary Northern Petroleum (UK) Limited ("Northern") has been awarded two further exploration licences in Italy by the Italian authorities. The licences are Nibbia, in the Po Valley and Cesera on the Adriatic Coast. Nibbia is situated in the central region of the Po Valley close to Villafortuna, the second largest onshore oil field in Europe. Northern believes that the Nibbia licence, adjacent to the Vercelli licence (50% owned by the BG Group), has the potential for a significant oil or gas condensate accumulation in addition to the normal Po Valley shallow gas plays. This is similar to our Savio Licence, in the Lower Po Valley, adjacent to the San Marco permit, where it is reported the Abaddesse Gas prospect is to be drilled during the first quarter of this year. On the northern Adriatic coast, the Cesara Licence covers three abandoned shallow gas fields which will now be studied for their gas storage potential. The awards are subject to presentation of a satisfactory environmental impact study. Derek Musgrove, Managing Director of Northern Petroleum Plc, commented, "This is great progress and brings Northern's total number of Italian licence awards to six, all of which are operated by Northern, with four applications outstanding. Two of our existing Italian licences and three of the applications cover an oil prone area offshore the south of Sicily with many old undeveloped oil discoveries. They are close to Libya, Tunisia and Malta but have, in our opinion, considerable advantages of being in EU territory and under a benign Italian hydrocarbon tax system. Northern Petroleum now holds a position of considerable strength in Italian oil and gas exploration. This has been achieved with patience and should now be recognized as a significant value to Northern Petroleum Plc." ITALIAN LICENCES AND APPLICATIONS OPERATED BY NORTHERN PETROLEUM (UK) LIMITED LICENCE PERCENTAGE OWNED PO VALLEY Savio 70% Nibbia 70% OFFSHORE SICILY d343C.R.-.NP (Canale di Sicilia) 70% d344C.R.-.NP (Canale di Sicilia) 70% ADRIATIC COAST Cesara 70% ROMA - LAZIO d92E.R.-.NP (Offshore near Rome) 33.34% APPLICATIONS d18G.R.-.NP (Canale di Sicilia) 70% d19G.R.-.NP (Canale di Sicilia) 70% d20G.R.-.NP (Canale di Sicilia) 70% Longastrino (Po Valley) 70% For further information please contact, Derek Musgrove, Managing Director, Northern Petroleum Plc - Tel. 020 7743 6080 Gillian Hunt, Director, Northern Petroleum (UK) Limited - Tel. 020 7743 6080 Chris Roberts / Ben Simons, Hansard Communications - Tel. 020 7245 1100 / 0771 309 0135 END
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