Cabot Energy Regulatory News (CAB)

22 Feb 2005 11:11

22 February 2005 Northern Petroleum Plc ("Northern" or the "Company") Re. Rig Contract Signed Northern Petroleum announces that its subsidiary Northern Petroleum (GB)Limited has today signed a contract with British Drilling and Freezing Limited("BDF") for the deployment of Rig No. 28 to drill two wells on the Isle ofWight, with an option for a third well.The drilling programme will commence with the Sandhills-2 appraisal wellfollowed by the Bouldnor Copse-1 exploration well. The Company has agreed anoption with BDF to drill a third prospect in the South of England.Rig.28 will become available to Northern upon completion of its priorcontractual drilling commitments and an anticipated spud date will be announcedin due course.Rig.28 has carried out extensive work in the weald basin and is the same rigthat previously drilled Northern's Avington-2 oil discovery in Hampshire. -Ends- For further information please contact:Derek Musgrove, Managing DirectorNorthern PetroleumTel. 020 7743 6080Ben Simons/Chris RobertsHansard CommunicationsTel. 020 7245 1100END