ATI Oil Plc

May 28, 2009 09:00 ET

Recommended Offer for ATI Oil ? Results of Court Meeting and General Meeting

                                                                                       28 May 2009
                                                                   ISIN: GB00B04BP253/GBP/PLUS-exn
                                            ATI Oil Plc
                                           Martin House
                                           5 Martin Lane
                                             EC4R 0DP
                                     Tel: +44 (0)20 7469 2940
                                     Fax: +44 (0)20 7469 2901

                                            ATI Oil Plc
                                      ("ATI" or "the Company")

           Recommended Offer for ATI Oil - Results of Court Meeting and General Meeting

Further to the announcement released by Northern on 29 April 2009 and the posting of the Circular,
the  Independent ATI Directors and the Independent Northern Directors are pleased to announce that
at today's Court Meeting, the required majority of Scheme Shareholders approved the Scheme without
modification.  At the subsequent General Meeting also held today, Scheme Shareholders  passed  the
proposed resolution, as set out in the notice of General Meeting dated 28 April 2009 (the "Special

The number of votes for and against the Scheme at the Court Meeting were as follows:

             Number of     Scheme Shares   Scheme Shares        Number of         Scheme           Scheme
           Scheme Shares   voted as % of   voted as % of         Scheme        Shareholders     Shareholders
               voted       total Scheme     total issued      Shareholders    who voted as %   voting as % of
                           Shares voting   Scheme Shares         voting          of total       total Scheme
                                                                                  Scheme        Shareholders
For         49,169,982          100            82.85               31               100             22.63
Against          0               0               0                  0                0                0

At the General Meeting, the Special Resolution was passed unanimously on a show of hands.

The  Scheme  and  the associated Capital Reduction will also require the subsequent  sanction  and
confirmation of the Court.

Expected Timetable of Principal Events

The  following times and dates are indicative only and will depend, amongst other things,  on  the
dates upon which the Court sanctions the Scheme and confirms the Capital Reduction and whether the
Conditions are either satisfied or, if capable of waiver, waived.

Last day of dealings in ATI Shares                22 June 2009
Scheme Record Time                                6:00 p.m. on 22 June 2009
Court hearing (to sanction the Scheme and         23 June 2009
confirm the Capital Reduction)
Effective Date                                    24 June 2009
Cancellation of trading of ATI Shares             8:00 a.m. on 24 June 2009
Latest date for dispatch of New Northern Share    8 July 2009
certificates and crediting of CREST accounts
under the Scheme

Terms and expressions used in this announcement shall have the same meanings given to them in  the
announcements released by Northern on 3 April 2009 and 29 April 2009.

The Directors of the Issuer accept responsibility for this announcement.

For further information please contact:

ATI Oil plc                                                            Tel: +44 (0) 20 7469 2940
Per Gunnar Loge, Chief Executive Officer                        
KBR (Financial adviser to ATI)                                         Tel: +44 (0) 20 3100 8300
Hugh Oram                                                       
Northern Petroleum Plc                                                 Tel: +44 (0) 20 7469 2900
Richard Latham, Chairman                                                                        
Graham Heard, Exploration & Technical Director                                                  
Investec (NOMAD and Financial Adviser)                                 Tel: +44 (0) 20 7597 5000
Michael Ansell / Patrick Robb / Avital Lobel                                                    

For further information on ATI's Italian assets please see our web site,

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