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25 June 2009
Directors’ Shareholdings

Following the completion yesterday of the acquisition of ATI Oil Plc (“ATI”), and the allotment of Northern shares to ATI shareholders and warrantholders at 120p per share, being the mid market price at close of business on 23 June 2009, the Company has today been informed of changes in certain directors’ shareholdings, which are summarised as follows:

Name

Prior shareholding in Northern

Shares issued pursuant to ATI acquisition

New shareholding in Northern

Percentage of issued share capital

Chris Foss

20,988

42,291

63,279

0.08%

Graham Heard

342,570

42,041

384,611

0.49%

Richard Latham

740,087

12,500

752,587

0.95%

Derek Musgrove

950,000

41,666

991,666

1.26%

Included in the above newly issued shares are 625 and 375 shares held respectively by the SIPPs of Chris Foss and Graham Heard.

The directors’ total beneficial shareholdings are now 2,405,418 ordinary shares, which represents 3.05 per cent of the issued share capital of the Company.

In addition, following their election to surrender ATI warrants for Northern warrants, the Board has approved the issue of warrants to purchase ordinary shares of 5 pence each in the capital of the Company to directors as follows:

Name

Number of Warrants over Ordinary 5p Shares

Exercise Price

Expiry Date

Chris Foss

31,250

80p

30/04/2013

Chris Foss

31,250

252p

16/06/2013

Derek Musgrove

31,250

80p

30/04/2013

Derek Musgrove

31,250

252p

16/06/2013

For further information please contact:

Northern Petroleum Plc
Tel: +44 (0) 20 7469 2900
Derek Musgrove, Managing Director
Chris Foss, Finance Director
Graham Heard, Exploration & Technical Director

Jefferies International
Tel: +44 (0) 20 7029 8000
Chris Snoxall / Schuyler Evans

Astaire Securities
Tel: +44 (0) 20 7448 4400
Jerry Keen / Toby Gibbs

Bishopsgate Communications (Press)
Tel: +44 (0) 20 7562 3350
Nick Rome / Michael Kinirons

Buchanan Communications (Analysts)
Tel: +44 (0) 20 7466 5000
Tim Thompson / Ben Romney

     

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