Northern Petroleum Plc
LSE : NOP

March 18, 2009 03:00 ET

Offshore Sicily Seismic Survey Completed

Embargoed for release: 0700 on 18 March 2009
                                                   
                                        Northern Petroleum Plc
                                                   
                                      ("Northern" or "the Group")
                                                   
                               Offshore Sicily Seismic Survey Completed
                                                   
Northern announces that its wholly owned subsidiary, Northern Petroleum (UK) Limited, completed on  16
March  its  2D seismic operations in six West Sicily offshore thrust belt licences G.R17.NP, G.R18.NP,
G.R19.NP, G.R20.NP, G.R21.NP and G.R22.NP. Seismic acquisition commenced on 13 February and  2463  kms
of  data  have  been acquired in these licences using the vessel 'BOS Angler' contracted  from  Bergen
Oilfield Services.

This  seismic  acquisition in the West Sicily licences was the first part of the work programme  being
funded by Shell Italia E&P S.p.A under the farm-in arrangement announced in December 2008. The aim  of
the  survey  was  to obtain a better definition of the substantial leads identified  in  the  previous
seismic campaign.

The  vessel  has now commenced operations on Northern's wholly owned permit C.R147.NP off  Pantelleria
Island  in  the Sicily channel. The planned 500 kms 2D seismic survey in this area is again  aimed  to
improve  delineation of several large prospects, each with potential for over 200mbls recoverable  oil
reserves. The survey is expected to finish later this month.

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.

                                              ---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

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

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

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

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.

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 www.northpet.com.

Contact Information

  • Northern Petroleum Plc