Northern Petroleum

Latest Northern Petroleum News

• The first well will appraise the discovery made by Zaedyus-1 and explore for deeper objectives, followed by an exploration wildcat well.

• 3D seismic is also planned to be acquired from midyear to further delineate leads on trend and similar to the Zaedyus discovery mapped on 2D seismic along the length of the deepwater margin.

• Northern announces plans to commence drilling in mid 2012 on the Guyane permit, to follow up on the Zaedyus oil discovery in late 2011 that demonstrated the prospectivity of this licence area off South America.

• The company recorded a loss due to administrative expenses and project costs at Centurion, partially offset by a gain in the value of the holding in Wessex Exploration PLC.

• Northern Petroleum has announced that in 2011 it produced at a daily production rate of 1582 boepd, up 31% upon 2010 and delivering upon the forecast of 1550-1650 boepd announced in the 2010 Annual Report.

• The part blocks 98/13 and 98/14 cover the offshore extension from PEDL 240 of a prospect that has been mapped using both seismic and well data and is located in the same petroleum basin as the Wytch Farm oil field.

• Northern has completed extended well test drilled in 2007 and hydraulically fractured in 2009.

• The Vinkega gas field was discovered when Vermilion Oil & Gas Netherlands drilled the Vinkega-1 well on its Gorredijk Licence.
• All the Drenthe III Licence interest holders agreed to the sale of their respective interests in the Vinkega field to Vermilion.

• Northern Petroleum Plc is an EU oil company that acquires low entry cost exploration, production and development assets.

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