23 Apr 2013 07:00
NORTHERN PETROLEUM PLC - Completion of GM-ES-3 Exploration WellNORTHERN PETROLEUM PLC - Completion of GM-ES-3 Exploration Well
PR Newswire
London, April 22
Embargoed for Release: 0700 on 23rd April 2013
Northern Petroleum Plc ("Northern" or "the Company") Completion of GM-ES-3 Exploration WellFurther to the release on the 17th April 2013, Northern Petroleum Plc (AIM:NOP) announces the conclusion of drilling activities on GM-ES-3 (Priodontes) inFrench Guiana.
At 6,318 metres depth, drilling was terminated. The well had reached sufficientdepth to evaluate the deeper potential reservoir, encountering an estimated 65metres of target formation. With no indications of hydrocarbons the well is nowbeing plugged and abandoned.
The Stena ICEMax will now move on to the GM-ES-4 (Cebus) exploratory welldesigned to test a different fan system to the previous three wells drilled bythe Joint Venture.
GM-ES-4 is the third well of a four well exploration drilling campaign thatcommenced in 2012 to follow up the oil discovery at GM-ES-1 in 2011.
Keith Bush, Chief Operating Officer of Northern Petroleum stated:
"The extension of GM-ES-3 has proved a valuable exercise in gathering furtherdata for the wider exploration of the Guyane Maritime permit. With the StenaICEMax now moving to explore the potential of the Cebus prospect, we lookforward to participating in another significant exploration well and thepotential value that may bring."
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 hascomplied, read and approved the technical disclosure in this regulatoryannouncement. The technical disclosure in this announcement complies with theSPE/WPC standard.
For further information please contact:
Northern Petroleum Plc Tel: +44 (0)20 7469 2900Derek Musgrove, Managing DirectorKeith Bush, Chief Operating OfficerGraham Heard, Exploration and Technical DirectorWesthouse Securities (Nomad and Broker) Tel: +44 (0)20 7601 6100Richard Baty - Corporate Finance
FTI Consulting Tel: +44 (0)20 7831 3113Billy Clegg Bishopsgate Communications Tel: +44 (0)20 7562 3350Nick Rome 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, includingall press releases, annual reports and interim reports are available fromNorthern's website www.northpet.com