The Company announces that, following the exercise of warrants at 12.5 pence per share to subscribe for ordinary shares after market close on 02 April by Graham Heard, Exploration and Technical Director, it has made an application pursuant to the authority granted on 27 June 2007 for the admission of 100,000 ordinary shares of 5 pence each to trading on AIM. Each new ordinary share will rank pari passu with existing ordinary shares. Following the admission, the total number of ordinary shares in issue will be 70,894,581.

It is expected that dealings in the said shares will commence on 10 April 2008.

Simultaneous to this exercise, Mr Heard has transferred these 100,000 ordinary shares to his SIPP at a price of 130p per share. Following this warrant exercise and transfer, Mr Heard’s total beneficial shareholding has increased to 115,523 ordinary shares, which represents 0.16 per cent of the issued share capital of the Company. These transactions do not however result in any change in Mr Heard's beneficial interest in the diluted share capital of Company.

The Company has also been informed that Richard Latham, Chairman of Northern, has this morning transferred 5,000 ordinary shares of the Company from his personal holdings to his SIPP at a price of 130p per share. This transfer does not alter Mr Latham’s total beneficial shareholding of 725,087 ordinary shares, which represents 1.02 per cent of the issued share capital of the Company.

The Company has additionally been informed that Jerry White, a Non Executive Director of Northern, has this morning transferred 20,000 ordinary shares of the Company from his personal holdings to his SIPP at a price of 130p per share. This transfer does not alter Mr White’s total beneficial shareholding of 123,275 ordinary shares, which represents 0.17 per cent of the issued share capital of the Company.

For further information please contact:

Northern Petroleum Plc
Tel: +44 (0) 20 7469 2900
Chris Foss, Finance Director

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

Bishopsgate Communications Limited
Tel: +44 (0) 20 7562 3350
Nick Rome / Maxine Barnes