Cabot Energy Regulatory News (CAB)

1 Apr 2010 17:56

01 April 2010 Northern Petroleum Plc ("Northern" or "the Company") Correction re Director's Dealing

This correction is being released as the previous version of the announcement (RNS 01606-B5CB) relating to the transfer of shares from Mr Derek Musgrove to his wife did not contain all the relevant information.

Northern was informed on 01 April 2010 of the transfer of 450,000 ordinary shares ("Ordinary Shares) in the Company by Mr Derek Musgrove, Managing Director, on 01 April 2010 to his wife Mrs A Musgrove for nil consideration.

Following the transfer, Mr. Musgrove's holding in the Company is 587,260 Ordinary Shares, representing 0.73% of the Company's total voting rights. Mrs. Musgrove has previously held no shares in the Company and as such her holding is now 450,000 Ordinary Shares, representing 0.56% of the Company's total voting rights.

In relation to Schedule 5 of the AIM rules, this is a related party transaction. As such, Mr Musgrove's aggregate beneficial holding in the Company remains unchanged at 1,037,260 Ordinary Shares, representing 1.3 % of the Company's total voting rights.

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For further information please contact:

Northern Petroleum Plc Tel: +44 (0) 20 7469 2900Derek Musgrove, Managing DirectorSophie Hull, Head of Corporate CommunicationsBrokers to the CompanyJefferies International Limited Tel: +44 (0) 20 7029 8000

Chris Snoxall / Schuyler Evans

Astaire Securities Tel: +44 (0) 20 7448 4400

Jerry Keen / Toby Gibbs

For further information on Northern visit www.northpet.com.