Northern Petroleum Plc

April 07, 2009 02:00 ET

Netherlands Update

                                                                                             7th April 2009
                                          Northern Petroleum Plc
                                  Field Development and Drilling Progress

Northern  Petroleum Plc announces further progress towards bringing four gas fields and two oilfields  into
production as well as drilling two exploration wells in the Netherlands.

At  the  Ottoland  field,  the  side tracked well Ottoland-1ST2, drilled in  2008,  has  been  successfully
hydraulically fractured to enhance oil production flow rates. The well is currently flowing oil and testing
is in progress and is expected to continue for some time.

At  the  Grolloo gas field the well work-over of the existing well is in progress to prepare the  well  for
hydraulic  fracturing of the reservoir formation as was successfully accomplished at  Brakel  and  Wijk  en
Aalburg last year.

These  hydraulic  fracturing operations and flow tests will determine the final details of  the  production
facilities design for the initial production phase and will assist in the projection of reservoir  drainage
in order to potentially locate further wells which will achieve increases in production.

The  exploration well Niewendijk-1 which is located close to the Ottoland field will start drilling  within
the  next week utilising the newly fabricated Northern Dutch Drilling Company drill rig mobilised from  the
Czech Republic. The Nieuwendijk prospect has a mean estimated size of 56 million barrels of oil in place.

Licence interests:

        Northern Petroleum Nederland                     45%
        EBN                                              40%
        Dyas B.V.                                        15%

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 30 years experience as a petroleum geologist.

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 Petroleum ("Northern") has recoverable Proven and Probable reserves of 76.5 million barrels of oil
equivalence.  This  will  increase to over 103 million barrels of oil equivalence upon  completion  of  the
proposed acquisition of ATI Oil Plc announced on 3rd April 2009.

In  The  Netherlands, following a deal with the joint Shell and ExxonMobil subsidiary, NAM, Northern  holds
proven and probable oil and gas reserves of 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. In 2008 Northern recently sold its interest in the Waalwijk Underground Gas Storage
project application to a Petronas subsidiary for an overall consideration of £10 million.

In  Italy  Northern manages the largest licensed exploration area, 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 it  is
currently  drilling  the  Savio 222 bcf gas prospect. 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 which would increase to 53.2 million upon completion  of  the
scheme of arrangement agreed with the Board of Directors of ATI Oil.

In  late  2008 a deal was signed with Shell Italia refunding 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-
2010  it is planning to drill an eastward extension of the Horndean oil field and three other wells two  of
which will target old oil discoveries. Northern has 50% interests in these ventures.

Further information on Northern is available at

Contact Information

  • Northern Petroleum Plc