Cabot Energy Regulatory News (CAB)

11 Jul 2005 15:40

The following is to replace the earlier announcement disclosed at 16:23BST. The headline contained a spelling error and should have read Isle of Wight Planning Permission Extension, not Isle of White Planning Permission Extension, as issued inadvertently by PRN. This error was in no way due to the company or its advisors. 11 July 2005 Northern Petroleum Plc ("Northern" or the "Company") Isle of Wight Planning Permission Extension The Company announces that the Isle of Wight Council has granted an extensionto the existing permission, on the Sandhills-2 site, until 31 March 2006, inorder to allow for adequate long-term testing following the delayed start todrilling operations.The Isle of Wight Council has also granted permission for the drilling of anextra bore-hole, Sandhills-3, on the site. This is in anticipation of the needto follow up a successful Sandhills-2 appraisal well. -Ends- Contacts:Derek MusgroveNorthern Petroleum PlcTel. 0207 743 6080orChris Roberts / Ben SimonsHansard CommunicationsTel. 020 7245 1100Information for editorsThe Sandhills-2 joint venture partners are:Northern Petroleum (GB) Ltd 57.5% Magellan Petroleum (N.T.) Pty Ltd 22.5% Montrose Industries Ltd 5% Black Rock Resources (UK) Ltd 5% Oil Quest Resources Plc 7.5% Oil & Gas Investments Ltd 2.5% NORTHERN PETROLEUM PLC