Northern Petroleum Plc

May 12, 2009 02:00 ET

Award of Permits Offshore Calabria ? Ionian Sea

Embargoed for release: 0700 on 12 May 2009
                                      Northern Petroleum Plc
                          Award of Permits Offshore Calabria - Ionian Sea

Northern Petroleum Plc announces that its wholly owned subsidiary, Northern Petroleum (UK) Limited
("Northern"),  has been advised of the preliminary award of two offshore Italian permits,  d63F.R-
.NP  and  d64F.R-.NP,  covering a total of 1470 km². Northern has  been  invited  to  prepare  the
required environmental impact study on which work will shortly commence.

The awards are adjacent to offshore preliminary award d59F.R-.NP, which is close to the gas fields
of  Luna,  Hera  Lacinia, Linda and Lavinia. These fields represent a significant portion  of  the
Italian  gas  reserves discovered to date. The applications cover the offshore  extension  of  the
Crotone and Rossano basins, where previous operators acquired high quality 3D seismic data.

Northern holds a 100% interest in the licences, but a subsidiary of ATI Oil Plc ("ATI"), in  which
Northern  holds a 37.04% equity interest, has a 50% pari passu commercial interest in the licences
(giving a current net beneficial interest to Northern of 68.52%). ATI is currently the subject  of
an Offer by Northern Petroleum Plc that was announced on 3 April 2009.

Graham Heard, Exploration & Technical Director, commented:
"We  are delighted to have received these two awards, which are adjacent to the highly prospective
d59F.R-.NP preliminary award, so quickly following our applications of last October."

In  accordance  with the AIM Rules - Guidance for Mining and Oil & Gas Companies, the  information
contained  in this announcement has been reviewed and signed off by the Exploration and  Technical
Director  of Northern, Mr Graham Heard CGeol FGS, who has over 35 years experience as a  petroleum

For further information please contact:

Northern Petroleum Plc                                         Tel: +44 (0) 20 7469 2900
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

Further information on Northern is available at

Contact Information

  • Northern Petroleum Plc