
Northern Awarded New Licence with Gas Prospect
An exploration licence covering the Kerkwijk South gas prospect has been awarded to Northern Petroleum Nederland B.V. (“NPN”), a wholly owned Dutch subsidiary of Northern. The Engelen Exploration Licence (“Engelen”) covers 97km² in the West Netherlands Basin, an area where NPN already holds four other exploration and production licences (Andel III, Papekop, Utrecht and Waalwijk). The prospect has been mapped from existing seismic data and is on trend to the Kerkwijk gas discovery drilled in 1988.
The licence application, in which NPN has a 100% interest, will run for 4 years and was submitted in March 2009 in competition to the prior application of a third party. Engelen is adjacent to NPN’s Utrecht licence which contains two undeveloped discoveries of immediate interest with a total gas in place 242 bcf (P50) and exploration prospects which will be evaluated in conjunction with the Engelen licence.
Upon future conversion to a production licence NPN’s 100% interest is by law subject to the election by EBN B.V. (“EBN”) to acquire a 40% paying participating interest.
Derek Musgrove, Managing Director of Northern, stated: “This award is pleasing. It was processed within 7 months, it was gained in a competitive process and it contains a mapped structure near to a gas discovery in the main play fairway. It is our 9th licence in The Netherlands bringing the gross total area in which NPN holds a licence interest to 3497 km²”.
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 and Technical Director of Northern Petroleum Plc, Mr Graham Heard CGeol FGS, who has over 35 years experience as a petroleum geologist.
For further information please contact:
Northern Petroleum Plc
Tel: +44 (0) 20 7469 2900/61
Derek Musgrove, Managing Director
Chris Foss, Finance Director
Graham Heard, Exploration & Technical Director
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