Cabot Energy Regulatory News (CAB)

Embargoed for release: 23 August 2013 at 07.00 Northern Petroleum Plc ("Northern" or "the Company") Canadian Operational Update Northern Petroleum Plc (AIM: NOP) provides the following update on thepreviously announced testing programme designed to evaluate the productionpotential of the leases acquired by the Company in northern Alberta, Canada, inthe first quarter of 2013. Since acquiring the acreage, the Company has purchased and interpreted 19square kilometres of 3D seismic data. This analysis has increased the numberand type of drilling opportunities available on the land. These opportunitiesinclude the identification of undrilled reef structures as well as reefs whichmay benefit from drilling up-structure from the previous entry point. As a result of this work, the Company is now sufficiently confident to extendthe proof of concept programme to include a possible side track and a new wellalongside the re-entries. Rig tenders are currently being evaluated for thisprogramme. While this work has been undertaken, the Company has been awaiting the formalassignment of the existing wellbores from previous operators to allow access tothe well re-entry candidates. These assignments are in process, however aretaking longer than usual. The drilling of a new well and a side track are notaffected by this and therefore the final proof of concept well sequence will beadapted to reflect this. The seismic analysis and the wait on the assignment of wellbores mean that arig is now expected to be on location in November this year to start thetesting programme. Upon encouraging results, operations will move immediatelyinto the development phase. Keith Bush, Chief Executive Officer of Northern, commented: "While the team is keen to get a rig on site and test the play, this change inapproach to the proof of concept phase will allow us to evaluate the differentdevelopment options from the start. This in turn should lead to a moreeconomically efficient development." - Ends - In accordance with AIM Rules - Guidance for Mining and Oil & Gas Companies, theinformation contained in this announcement has been reviewed and signed off bythe Exploration and Technical Director of Northern, Mr Graham Heard CGeol. FGS,who has over 35 years experience as a petroleum geologist. He has compiled,read and approved the technical disclosure in this regulatory announcement. Thetechnical disclosure in this announcement complies with the SPE/WPC standard. For further information please contact: Northern Petroleum Plc Tel: +44 (0)20 7469 2900 Keith Bush, Chief Executive Officer Nick Morgan, Finance Director Westhouse Securities (Nomad and Broker) Tel: +44 (0)20 7601 6100 Richard Baty - Corporate Finance Ian Napier - Corporate Broking FTI Consulting Tel: +44 (0)20 7831 3113 Billy Clegg, Edward Westropp Bishopsgate Communications Tel: +44 (0)20 7562 3350 Nick Rome, Anna Michniewicz Note to Editors: Northern is a full cycle oil and gas company currently holding numerouslicences in a number of low risk areas and is continuing with its strategy ofadding and securing value for shareholders as it engages with projects at allstages of the E&P value chain. Comprehensive information on Northern and its oil and gas operations, includingpress releases, annual reports and interim reports are available fromNorthern's website www.northpet.com