20 Dec 2007 10:49
For immediate release: 20 December 2007
Northern Petroleum Plc ("Northern" or the "Company") Issue of Warrants
Northern announces that on 19 December the Board has approved the issue to a director of warrants to purchase 5p Ordinary Shares of the Company as follows:
Name Number of Warrants over Exercise Price Ordinary 5p Shares G.L Heard 100,000 138.50p
The above warrants are exercisable at a subscription price based upon the prevailing mid-market price at close of business on 18 December 2007. The new warrants are open to exercise until 31 December 2012 and have been issued as a continuation of the Board's policy of providing performance based incentives to Directors and staff.
-Ends- Contacts:Northern Petroleum Plc
Derek Musgrove, Managing Director
Chris Foss, Finance DirectorTel: +44(0)20 7469 2900InvestecMichael AnsellTel: +44(0)20 7597 5000Panmure Gordon & CoKatherine RoeTel: +44(0)20 7459 3600Bishopsgate CommunicationsNick Rome / Maxine BarnesTel. +44(0)20 7562 3350
Further information on Northern Petroleum Plc is available via our website, www.northpet.com
NORTHERN PETROLEUM PLC