At the Annual General Meeting (“the meeting”) of the Company held today all resolutions as put to the meeting were passed.

Share Reorganisation

As a consequence of the passing of the resolutions pertaining to the share re-organisation, the Company wishes to update shareholders as follows.

Share Consolidation

Following the passing of Special Resolution 7 at the meeting, the issued share capital of the Company will be 53,854,180 ordinary shares of 5p each. These shares have been assigned an ISIN of GB00B0D47T64 and will be admitted to trading on the AIM market of The London Stock Exchange with effect from Monday 8 August.

Those shareholders on the register who hold their shares via Crest will have their holdings automatically updated, while those who hold share certificates will have new share certificates sent to them next week at their address as detailed on the register. Those whose holdings do not divide by five exactly will lose the rump of between one and four shares, and the aggregate of all those rumps will be sold in the market and the proceeds kept by the Company, to the benefit of all shareholders.

Extinction of Deferred Shares and Cancellation of Share Premium Account

Following the passing of Special Resolution 6 at the meeting, the extinction of the Deferred Shares in issue, which had a nominal value of £4,434,180, has now been approved by both the deferred and ordinary shareholders of the Company. In addition, the ordinary shareholders have approved the cancellation of the amount standing to the credit of the share premium account as at 31 December 2004, being £9,332,685. The effect of this proposed reorganisation on the capital structure of the Company was summarised in the Finance Report on page 17 of the 2004 Annual Report & Accounts.

These cancellations now require the confirmation of the High Court, and the final hearing date is set for 14 September 2005.

For further information, please contact:

Northern Petroleum Plc
Graham Heard, Exploration Manager
Chris Foss, Company Secretary
Tel: 020 7743 6080

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