28 Nov 2006 10:00
28 November 2006 Northern Petroleum Plc ("The Company" or "Northern") Seismic survey enhances offshore Sicily projects
Northern Petroleum Plc, the oil and gas production, development and exploration company with core interests under its management in The Netherlands, Italy and the United Kingdom, is pleased to announce the completion of a 1500km 2D seismic program across the offshore Sicily blocks C.R146.NP, C.R147.NP, G.R17.NP, G.R18.NP and G.R19.NP, operated by Northern. This program fulfils all seismic commitments on these permits.
This survey was acquired on behalf of Northern by Seabird Exploration ME FZ LLC ("Seabird Exploration"), a BVI registered company listed on the Norwegian Stock Exchange, using the `M/V Northern Explorer'.
Derek Musgrove, Managing Director of Northern, commented:
"We are very pleased to have completed this survey ahead of schedule and anticipate that it will come in under budget.
"We would like to thank Seabird Exploration and the crew of the `M/V Northern Explorer' for their professionalism, which has been a major factor in the success of this survey.
"Early results look very promising and appear to confirm the predicted potential of these licences. We will use these data to demonstrate the prospectivity of our permits at various UK and international industry prospect fairs in the next three months, with a view to farming out at an early date and with intent to drill in 2007 and 2008.
"The acquisition of these data now clearly demonstrates Northern's operational capabilities in Italy, and we would like to thank all the relevant government authorities for their co-operation and assistance in making this survey happen."
---ENDS---
Northern Petroleum Plc Tel +44 (0) 20 7743 6080
Derek Musgrove, Managing Director
Graham Heard, Exploration Manager
Bishopsgate Communications Limited Tel: +44(0) 20 7562 3350
Nick Rome / Maxine Barnes
Notes to Editors:
Northern Petroleum Plc is an oil and gas production, development and exploration company with core interests under its management in The Netherlands, Italy and the United Kingdom and other interests in Guyane and Spain. The Company has proven and probable reserves of 60.5 million barrels of oil equivalent and is currently working towards putting its six Netherlands development assets into production with the support of Standard Bank. Further information on Northern is available at www.northpet.com.
NORTHERN PETROLEUM PLC