6 Oct 2010 11:00
Embargoed for release: 1100 on 6 October 2010
Northern Petroleum Plc ("Northern" or "the Company") Distribution of 2010 Interim Report
Northern Petroleum Plc (AIM:NOP), the independent oil and gas exploration, development and production company announces that the Company's Interim Report for the six months ended 30 June 2010 is now available online at the Company's website www.northpet.com, and will shortly be posted to registered shareholders.
The Interim Report includes the following three minor corrections to the interim results released on the 29th September 2010:
* The net commercial oil & gas reserve quantities on page 2 of the interim results announcement should have been 102.67 million barrels of oil equivalent as at 30 June 2010, not 102.78 as previously stated; and * In note 5 of the interim results announcement, the share capital and share premium table totals should have been 780 and 11,227 respectively, not 808 and 11,199 as previously stated. - Ends -
For further information please contact:
Northern Petroleum Plc Tel: +44 (0) 20 7469 2900 Chris Foss, Director of Finance, Legal & Corporate Affairs
Sophie Hull, Head of Corporate Communications
Cenkos Securities (NOMAD and Joint Broker)
Jon Fitzpatrick Tel: +44 (0) 20 7397 8900 Ken Fleming Tel: +44 (0) 131 220 6939
Jefferies International (Joint Broker) Tel: +44 (0) 20 7029 8000
Chris Snoxall Financial Dynamics Tel: +44 (0) 20 7831 3113
Billy Clegg / Edward Westropp
Bishopsgate Communications Tel: +44 (0) 20 7562 3350
Nick Rome / Michael Kinirons
Notes to Editors:
Northern Petroleum Plc (NOP) is an oil and gas company with exploration, development and production assets in the Netherlands, Italy, UK and Guyane. The Company's strategy is to acquire low entry cost exploration, production and development assets. Through undertaking geological, geophysical and engineering work, Northern adds value to shareholders from production and asset sales.
Northern has total P2 reserves of in excess of 102 million barrels of oil equivalent ("mboe"). In the Netherlands, where Northern has P2 reserves of 42.5 mboe, Northern has five gas fields in production. In Italy, where Northern has P2 reserves of 53.16 mboe, Northern is partnered with Shell and is pursuing a farm-out strategy. In the UK, Northern has 7.02 mboe. In Guyane, Northern is partnered with Tullow, Shell and Total.
Northern is well capitalised, has a track record of partnering with oil majors and is run by a senior and experienced management team.
Once Wijk en Aalburg is brought on production, Northern is forecasting a production rate in excess of 2,250 barrels of oil equivalent per day. This rate of production will increase as additional oil and gas fields in the Netherlands come on stream.
Northern is listed on the AIM market of the London Stock Exchange. www.northpet.com
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