Cabot Energy Regulatory News (CAB)

NORTHERN PETROLEUM PLC - Operational Update

PR Newswire

London, December 20

Embargoed for release: 0700 on 21 December 2012

Northern Petroleum Plc (AIM: NOP) provides the following update on its fullyfunded four well drilling programme that has been committed to after the 2011exploration success in the new oil province of French Guiana. The Zaedyus oildiscovery well, GM-ES-1, encountered 72 metres of net oil pay in two turbiditesand systems successfully proving that the Jubilee play is mirrored across theAtlantic from West Africa. The joint venture led by Shell decided to extend theexploration activities through committing to and funding a four well drillingprogramme and contracted the Stena IceMAX dynamically positioned drillship.

The recently completed GM-ES-2 was the first exploration well in this currentprogramme and the drillship will be moved onto the GM-ES-3 location to drillthe second well in the four well exploration programme.

As previously reported the GM-ES-3 well, will target the Priodontes turbiditefan exploration prospect, which is also within the larger main Cingulata fansystem that also contains the Zaedyus discovery fan. The well will be targetingseveral Cretaceous aged reservoir intervals. The objective of the well is toexplore for significant oil volumes in the fan, help determine the Cingulatasub surface model, possibly determine an oil water contact, assess thereservoir potential in the north-western part of the larger Cingulata fansystem and better understand the potential of the entire block.

GM-ES-3 is forecast to take approximately three to four months and operationalperformance should benefit from the learning experiences of the first twosuccessfully completed wells.

Northern through holding 50 per cent. of Northpet Investments Limited, owns anet 1.25 per cent interest in the offshore exploration licence `GuyaneMaritime'. Northern is in partnership with Shell (Operator, 45%), Total (25%),Tullow Oil (27.5%), and Wessex Exploration (also a 1.25 per cent holder throughowning the remaining 50 per cent interest in Northpet Investments Limited).

Derek Musgrove, Managing Director of Northern stated:

"The four well exploration programme has been designed to look at the bigpicture of this licence which covers an enormous area, equivalent toapproximately 100 UK North Sea blocks. Following a very successful first well,we and our senior partners committed significant resources to follow up thediscovery. The programme is intended to provide sufficient understanding of allaspects of the reservoir, oil generation, migration and entrapment to establishand provide the necessary information to unlock the massive potential of thisexciting new oil province. The focus is on this wider and greater objectiverather than individual prospect appraisal, hence the minimum four wellprogramme. I look forward to updating shareholders on progress."

In accordance with the AIM Rules - Guidance for Mining and Oil & Gas Companies,the information contained in this announcement has been reviewed and signed offby the Exploration and Technical Director of Northern, Mr. Graham Heard CGeol.FGS, who has over 35 years experience as a petroleum geologist. He hascompiled, 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:

Westhouse Securities (Nomad and Broker) Tel: +44 (0)20 7601 6100Richard Baty / Petre Norton - Corporate FinanceIan Napier - Corporate Broking

Bishopsgate Communications Tel: +44(0)20 7562 3350Nick Rome

Notes to Editors:

Northern is a full cycle oil and gas company currently holding over 40 licencesin a number of low risk areas and is continuing with its strategy of adding andsecuring value for shareholders as it engages with projects at all stages ofthe 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 at www.northpet.com.