Northern Petroleum announces that its subsidiary Northern Petroleum (GB) Limited has today signed a contract with British Drilling and Freezing Limited (“BDF”) for the deployment of Rig No. 28 to drill two wells on the Isle of Wight, with an option for a third well.

The drilling programme will commence with the Sandhills-2 appraisal well followed by the Bouldnor Copse-1 exploration well. The Company has agreed an option with BDF to drill a third prospect in the South of England.

Rig.28 will become available to Northern upon completion of its prior contractual drilling commitments and an anticipated spud date will be announced in due course.

Rig.28 has carried out extensive work in the weald basin and is the same rig that previously drilled Northern’s Avington-2 oil discovery in Hampshire.

For further information please contact,

Derek Musgrove, Managing Director
Northern Petroleum
Tel. 020 7743 6080

Ben Simons/Chris Roberts
Hansard Communications
Tel. 020 7245 1100