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Northern Petroleum completes partial Canadian divestment

Tue, 20th Dec 2016 09:05

(ShareCast News) - Northern Petroleum announced on Tuesday that, further to its announcement of 30 November, the divestment of 25% of its assets in Canada to High Power Petroleum has now completed.The AIM-traded company added that the remaining disposals in Italy and Australia, as set out in the circular sent to shareholders on 30 November, are subject to local regulatory approval and should complete in the new year.Following the admission to trading of 124,047,017 new ordinary shares on 19 December, the firm's board said the first tranche subscription had also now completed.The open offer, as described in the circular, remained open for acceptances until 1100 GMT on 9 January.As the board stated in the announcement on 1 December and in the circular, the size of the second tranche subscription is contingent on the size of the open offer.The company said the terms of the subscription agreement with H2P include the right to appoint a non-executive director to the company, and accordingly Campbell Airlie has now been appointed to that role."We are very pleased to have Campbell join us on the board," said Northern Petroleum chairman Jon Murphy."He has extensive experience and will bring a wealth of industry expertise, with a particular focus on petroleum engineering and production optimisation."We believe his skill set will complement the board well and we look forward to working with him on what will be an exciting programme for Northern Petroleum in 2017."
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3 Feb 2014 16:59

Northern Petroleum Chief makes modest investment

Northern Petroleum on Monday announced that its Chief Executive Officer, Keith Bush, had the same day purchased 85,000 ordinary shares. Costing 31.18p each, Bush spent a total of £26,503 on the shares. The purchase marks his only holding in the group. Meanwhile, fellow board member, Stewart Gibs

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3 Feb 2014 16:34

DIRECTOR DEALINGS: Northern Petroleum Non-Executive Buys 100,000 Shares

LONDON (Alliance News) - Northern Petroleum PLC Monday said non-executive director Stewart Gibson bought 100,000 shares at a price of 31 pence per share. The purchase represents Gibson's only holding in the company. Shares in the oil and gas company were up 8.6% at 31.35 pence Monday.

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3 Feb 2014 10:40

DIRECTOR DEALINGS: Northern Petroleum CEO Buys 85,000 Shares

LONDON (Alliance News) - Northern Petroleum PLC Monday said Chief Executive Officer Keith Bush bought 85,000 shares at a price of 31.18 pence per share. The purchase represents Bush's only holding in the company. Shares in the oil and gas company were trading up 6.0% at 30.60 pence M

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16 Jan 2014 16:19

UK shale gas firm IGas climbs as CEO indicates confidence

IGas Energy, a British onshore oil and gas explorer and developer, was one of the top risers on AIM on Thursday as Chief Executive Andrew Austin dipped into the market. Austin shelled out £0.4m on 300,000 shares at 135.38p, even though the shares are trading around all-time highs. The purchase in

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16 Jan 2014 15:36

DIRECTOR DEALINGS: Northern Petroleum Chairman Buys Shares

LONDON (Alliance News) - Northern Petroleum PLC Thursday said Chairman Jon Murphy bought 325,200 shares in the company at a price of 30.75 pence per share. This is the total shareholding that Murphy holds in the company, representing a 0.34% stake. Northern Petroleum was trading 1.2%

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18 Nov 2013 08:10

Monday broker round-up UPDATE

AGA Rangemaster: N+1 Singer raises its target price from 150p to 175p and keeps a buy recommendation. APR Energy: Jefferies cuts target price from 1300p to 1260p retaining a buy recommendation. Atkins (WS): LIberum Capital increases target price from 1300p to 1400p maintaining a buy recommendation

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13 Nov 2013 12:39

UK WINNERS & LOSERS: Sainsbury Leads FTSE 100 Winners, Several Oil Stocks Slip

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13 Nov 2013 09:49

STOCKS NEWS EUROPE-FTSE AIM index falls, Northern Petroleum weak

The junior-list AIM index falls 0.4 percent, in line with the FTSE Small Cap index, while outperforming the mid-caps, off 0.7 percent. Northern Petroleum drops 12 percent after it says the final well in the Guyane Maritime Permit offshore French Guiana will be plugged and abandoned. K

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16 Oct 2013 08:37

Wessex Exploration Loss Widens; Reduces Interest In Guyane Venture

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14 Oct 2013 08:46

Monday broker round-up UPDATE

Admiral Group: JP Morgan cuts target price from 1122p to 1022p maintaining an underweight rating. Balfour Beatty: Numis increases target price from 285p to 315p and stays with its add rating. Bankers Petroleum: Goldman Sachs takes target price from 365p to 379p and reiterates a buy recommendation.

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7 Oct 2013 16:45

Double director purchase at Northern Petroleum

Northern Petroleum, an oil and gas company, on Monday announced share purchases by two of its directors, one week after the agreement of the sale of its Netherland subsidiary, Northern Petroleum Nederland. Graham Heard, the company's Exploration & Technical Director, purchased 30,000 shares in the

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2 Oct 2013 10:29

BROKER RATING CHANGES: Citi Cuts Randgold And Fresnillo To Sell

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2 Oct 2013 08:02

Wednesday broker round-up UPDATE

Advanced Medical Solutions: N+1 Singer shifts target price from 84p to 90p and upgrades from sell to hold. Afren: Nomura lowers target price from 180p to 170p and retains a neutral rating. Aveva: Panmure Gordon raises target price from 2174p to 2374p and keeps a hold recommendation. Barclays: Soc

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2 Oct 2013 07:44

Wednesday tips round-up: Northern Petroleum, Unilever

Oil explorer Northern Petroleum seems to have turned the tables on the market. Given the company's inability to develop more fully its main assets ? onshore and offshore gasfields in the Netherlands ? its share price has virtually halved since the start of this year. As a result, it quickly became a

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1 Oct 2013 09:32

Northern Petroleum To Sell Netherlands Subsidiary For USD27.5M Cash

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