20 Dec 2011 07:00
Embargoed for release: 07:00 on 20 December 2011
Northern Petroleum Plc ("Northern" or "the Company" (AIM: NOP)) Successful Oil Test Completed at Ottoland
Northern has completed an extended well test of the Ottoland oil discovery drilled in 2007 and hydraulically fractured in 2009. Permission was received to conduct the test utilising a "jet pump" to assist the flow of oil.
Northern's analysis of the test results will provide a determination ofpredictable oil and gas production rates. Production facilities can then bedesigned to meet the potential for both oil and associated gas. At the sametime, work will also be undertaken on an oil marketing plan. It is currentlyprojected that production could be achieved in 2012 or 2013, subject to therequired statutory approvals.
Derek Musgrove, Managing Director of Northern, stated:
"The long wait for permissions to conduct this test as we desired has been rewarded. Following the anticipated confirmation of commerciality, we look forward to bringing the field on stream as soon as possible to augment our existing production in The Netherlands."
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. - Ends -
For further information please contact:
Northern Petroleum Plc Tel: +44 (0) 20 7469 2900
Derek Musgrove, Managing Director Chris Foss, Director of Finance, Legal & Corporate
Affairs
Graham Heard, Exploration & Technical Director
Cenkos Securities (NOMAD and Joint Broker)
Jon Fitzpatrick Tel: +44 (0) 20 7397 8900 Ken Fleming / Beth McKiernan Tel: +44 (0) 131 220 6939 Westhouse Securities (Joint Broker) Tel: +44 (0) 20 7601 6100
Richard Baty / Petre Norton - Corporate Finance Sanjiv Pandya - Corporate Broking
FTI Consulting Tel: +44 (0) 20 7831 3113
Billy Clegg / Edward Westropp
Bishopsgate Communications Tel: +44 (0) 20 7562 3350 Nick Rome / Shabnam Bashir Notes to Editors:
Northern currently holds over 50 licences in a number of low risk areas and continues with its strategy of adding and securing value for shareholders as it engages with projects at all stages of the E&P value chain.
Comprehensive information on Northern and its oil and gas operations, including all press releases, annual reports and interim reports are available from Northern's website at www.northpet.com.
XLON