The Company announces that pursuant to the authority granted on 26 July 2006 it has issued 20,772 ordinary shares of 5 pence to certain staff who have taken part of their salary entitlement in stock. The shares have been issued at a price of 104 pence per share being the closing mid market price at the close of business on 15 November 2006. Each new ordinary share will rank pari passu with existing ordinary shares. Application has been made for the shares to be admitted to trading on AIM and dealings are expected to commence on 23 November 2006. Following admission, the total number of ordinary shares in issue will be 70,219,851.

As a result of the above issue, Chris Foss, Finance Director, has increased his holding to 10,133 ordinary shares of 5 pence each, representing 0.01 per cent of the enlarged issued share capital of the Company.

The Company has been informed that 30,000 ordinary shares of the Company were purchased this morning by the SIPP of Richard Latham, a director of the Company, at a price of 105p per share. This purchase brings Mr Latham’s beneficial shareholding to 725,087 ordinary shares, representing 1.03 per cent of the issued share capital of the Company.

For further information please contact:

Northern Petroleum Plc
Chris Foss, Finance Director
Tel: +44(0) 20 7743 6080

Hansard Group
Chris Roberts
Ben Simons
Tel. +44(0) 20 7245 1100