Northern Petroleum Plc
LSE : NOP

June 25, 2009 11:00 ET

Directors Shareholdings

Embargoed for release: 1600 on 25 June 2009
                                                   
                                                   
                                        Northern Petroleum Plc
                                                   
                                     ("Northern" or the "Company")
                                                   
                                       Directors' Shareholdings

Following  the  completion yesterday of the acquisition of ATI Oil Plc ("ATI"), and the  allotment  of
Northern  shares to ATI shareholders and warrantholders at 120p per share, being the mid market  price
at  close  of  business  on 23 June 2009, the Company has today been informed of  changes  in  certain
directors' shareholdings, which are summarised as follows:

Name                         Prior            Shares issued        New shareholding     Percentage of
                        shareholding in      pursuant to ATI          in Northern       issued share
                           Northern            acquisition                                 capital
                                                     
                                                                                       
Chris Foss                 20,988                  42,291              63,279               0.08%
Graham Heard              342,570                  42,041             384,611               0.49%
Richard Latham            740,087                  12,500             752,587               0.95%
Derek Musgrove            950,000                  41,666             991,666               1.26%

Included  in  the above newly issued shares are 625 and 375 shares held respectively by the  SIPPs  of
Chris Foss and Graham Heard.

The directors' total beneficial shareholdings are now 2,405,418 ordinary shares, which represents 3.05
per cent of the issued share capital of the Company.

In  addition, following their election to surrender ATI warrants for Northern warrants, the Board  has
approved  the  issue  of warrants to purchase ordinary shares of 5 pence each in the  capital  of  the
Company to directors as follows:

Name                          Number of Warrants over           Exercise Price          Expiry Date
                                Ordinary 5p Shares                     
                                                                                     
Chris Foss                               31,250                       80p               30/04/2013
Chris Foss                               31,250                      252p               16/06/2013
Derek Musgrove                           31,250                       80p               30/04/2013
Derek Musgrove                           31,250                      252p               16/06/2013


                                              ---ENDS---
                                                   
                                                   
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

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

Astaire Securities                                                Tel: +44 (0) 20 7448 4400
Jerry Keen / Toby Gibbs

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:

Further information on Northern is available at www.northpet.com.

Contact Information

  • Northern Petroleum Plc