Northern is delighted to announce the completion of a report commissioned by the Company to re-examine some of the Group’s Weald Basin assets to reflect a $40/bbl oil price.

The report was carried out by Exploration Consultants Limited (“ECL”), a leading independent reservoir engineering consultancy group, as a follow up to their review completed last year which was announced by the Company on 4 May 2005.

The following results were obtained:

Net Northern Reserves

* MMstb - millions of stock tank barrels of oil

The previously reported Weald Basin reserves were 1.27MMstb proved and 3.61MMstb proved plus probable.

Derek Musgrove, Managing Director of Northern commented:

“These further improvements in reserves are as a direct result of the increase in commodity prices, which improve the economics and therefore enable more reserves to be extracted profitably. I would add however that the report does not cover all the leads and prospects within the Weald Basin that Northern is working on.

The Avington-3 well, in which we have a 5% interest, is shortly to be tested and we are planning, as operator, the drilling of two further Weald Basin wells in which Northern holds a 50% interest.”

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 Manager of Northern, Mr Graham Heard BSc (Hons), who has over 30 years experience as a petroleum geologist. The reserve estimates reported are based on the joint reserve and resource definitions of the Society of Petroleum Engineers, the World Petroleum Congress and the American Association of Petroleum Geologists.

For further details please contact:

Northern Petroleum Plc
Derek Musgrove, Managing Director
Graham Heard, Exploration Manager
Tel: 020 7743 6080

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

Panmure Gordon & Co
Katherine Roe
Tel: +44(0)20 7459 3600

Hansard Communications
Chris Roberts
Ben Simons
020 7245 1100