Northern Petroleum Plc

April 06, 2009 02:00 ET

Appointment of Joint Broker

Embargoed for release: 0700 on 6 April 2009
                                        Northern Petroleum Plc
                              ("Northern" or the "Group" or the "Company")
                                      Appointment of Joint Broker
Northern  is pleased to announce that Jefferies International Limited has been appointed Joint  Broker
to the Company with immediate effect.

For further information please contact:

Northern Petroleum Plc                                     Tel: +44 (0) 20 7469 2900
Derek Musgrove, Managing Director
Chris Foss, Finance Director
Graham Heard, Exploration & Technical Director

Investec                                                   Tel: +44 (0) 20 7597 5000
Michael Ansell / Patrick Robb

Blue Oar                                                   Tel: +44 (0) 20 7448 4400
Jerry Keen / Toby Gibbs

Jefferies International                                    Tel: +44 (0) 20 7029 8000
Chris Snoxall / Schuyler Evans

Bishopsgate Communications (Press)                         Tel: +44 (0) 20 7562 3350
Nick Rome / Michael Kinirons

Buchanan Communications (Analysts)                         Tel: +44 (0) 20 7466 5000
Tim Thompson / Ben Romney

Notes to Editors:

Northern has recoverable Proven and Probable reserves of 76.5 million barrels of oil equivalence.

Following a deal with the joint Shell and ExxonMobil subsidiary, NAM, Northern became The Netherland's
second  largest  onshore  oil  company  in  terms of oil and  gas  reserves,  with  45.5  million  boe
recoverable.  It  is  currently producing gas at Waalwijk and the offshore  P12  fields.  The  planned
development  of  six  onshore  oil  and  gas  fields  is  being  progressed  through  the  Netherlands
authorisation  and  planning processes. Partners in these projects include Dyas  B.V.,  EBN  and  NAM.
Northern recently sold its interest in the Waalwijk Underground Gas Storage project application for an
overall consideration of £10 million.

Northern  manages  the  largest  licensed exploration area in Italy, over  13,000  km²,  predominantly
offshore but includes seven licences in the Po Valley oil and gas province in the north of the country
where  the  drilling of the Savio 222 bcf gas prospect is being progressed. Through  its  holdings  in
licences  in the southern Adriatic covering the Rovesti and Giove oil discoveries it has net  Probable
oil reserves independently assessed at 26.6 million barrels recoverable. It has recently signed a deal
with  Shell  Italia refunding Northern's past costs and providing for Shell Italia to  fund  the  next
phases  of exploration of a potential new oil province in the extension of the Apennine thrust  system
offshore Sicily.

In  the UK the Group is also a significant holder of licences in the south of England where it  has  a
10%  interest  in  the production from the Horndean oil field and a 5% interest in  the  Avington  oil
field. In 2009 it is planning to drill an eastward extension of the Horndean oil field. Northern has a
50% interest in the venture.

Further information on Northern is available at

Contact Information

  • Northern Petroleum Plc