Your Oil & Gas News
3 August 2009
Northern expands Italian Thrust Belt licence area by 897 km²
Full article
T1ps.com (Subscribed)
1 August 2009
Northern Petroleum - New Italian Permits
Northern Petroleum (NOP) has announced that it is to add to what is the largest licensed exploration acreage in Italy – with the preliminary award of two new offshore permits, covering a total of 897 km². The awards are adjacent to the company’s existing six permits offshore Sicily, where it is working with Shell, and to another Northern preliminary award and will add to the offshore Italian acreage which offers “some of the greatest medium and long term growth potential for the Company”.
MD Derek Musgrove also noted “we have already mapped several prospects of a billion barrels plus” and this sort of potential offered by the Italian acreage together with the company’s developments in the Netherlands and significant balance sheet backing remain far from discounted in the share price. At 124.5p, these shares have the potential to more than treble. The stance remains "buy".
Oil Voice
31 July 2009
Northern Petroleum Awarded Two New Italian Offshore Permits
Full article
Energy Current
31 July 2009
Northern Petroleum picks up two more Italian permits
Full article
Proactive Investors
31 July 2009
Northern Petroleum picks up two more offshore permits adjacent to Shell Joint Venture
Full article
Reuters
9 July 2009
Northern Petroleum's results at Dutch well encouraging
Northern Petroleum Plc said on Thursday flow test at its Grolloo gas field in the Netherlands was 'encouraging' and that it measured a maximum gas flow rate of 16 million standard cubic feet per day (mmscfd).
The European Union-focused oil and gas explorer confirmed that the field was scheduled to be put on-stream in the fourth quarter.
'If we were to assume a flow rate of 10 mmscfd that would, based on a forecast gas price of 0.20 euros per normal cubic metre, generate an annual revenue for Grolloo of approximately 8 million euros ($11.12 million) net to Northern,' the company said in a statement.
The well at the Geesbrug field is being prepared for hydraulic fracturing of the reservoir, while at the Ottoland field, equipment and permissions are being procured to conduct a longer production flow test of both oil and gas, it said.
Northern Petroleum shares were unchanged at 101 pence at 0712 GMT on the London Stock Exchange.
Proactive Investors
9 July 2009
Northern Petroleum reports encouraging flow test from Grolloo gas field
Full article
Proactive Investors
22 June 2009
Majedie Asset Management raises Northern Petroleum stake to 5.19 pct
Full article
Proactive Investors
19 June 2009
Northern Petroleum sees Grolloo gas field on-stream in fourth quarter 2009
Full article
Oilbarrel.com
8 June 2009
Northern Petroleum Has An Exploration Well Hiccup But Ploughs On With Developing Its Dutch Assets
Full article
OilVoice
6 June 2009
Northern Petroleum Announces Netherlands Drilling Update
Full article
Reuters
4 June 2009
UPDATE 1-Northern Petroleum says insufficent oil at Dutch well
Full article
Proactive Investors
4 June 2009
Northern Petroleum in talks over alternative use of Nieuwendijk after disappointing drilling
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T1ps.com
4 June 2009
Northern Petroleum - Netherlands Update
Northern Petroleum (NOP) has announced that evaluation following drilling of its Nieuwendijk well has indicated that insufficient oil remains to warrant costs of exploitation. As a result, the company is now in discussions with a third party as to a possible geothermal energy application for the site and well and Northern’s activities in the Netherlands will concentrate on the programme for the development of its six onshore fields.
The Nieuwendijk news is obviously a disappointment but needs to be viewed in the context of a 2-3 million Euroruble net cost to the company and the geothermal talks – with Northern MD Derek Musgrove adding, "it (geothermal energy) has a potential to provide a significant salvage value to unsuccessful drilling efforts in populated areas where the reservoir temperatures are around 90º - 100ºC”.
With the main Netherlands activity very much remaining the development of production from the six onshore fields, I believe that the market has again over-reacted in sending the shares down 8% at the time of writing. Sentiment is fickle, underlying value will out in due course. At 116p, I believe the shares quite easily retain the potential to more than treble and my stance remains "buy".
Investers Chronicle
19 May 2009
Northern Petroleum gets active
Full article
Proactive Investors
18 May 2009
Northern Petroleum upbeat on operations coming on-stream
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T1ps.com
12 May 2009
Northern Petroleum - Award of Permits Offshore Calabria, Ionian Sea
Tom Winnifrith
(Subscribed only)
Northern Petroleum (NOP) has announced that its subsidiary Northern Petroleum UK, has been advised of the preliminary award of two offshore Italian permits, d63F.R-NP. and d64F.R-.NP, which covers a total of 1470 km². The company will shortly commence the required environmental impact study.
The awards are adjacent to offshore preliminary award d59F.R-.NP, which is close to the gas fields of Luna, Hera Lacinia, Linda and Lavinia. These fields represent a large portion of the Italian gas reserves discovered to date. The applications cover the offshore extension of the Crotone and Rossano basins, previous operators have been able to acquire high quality seismic data. Post the ATI deal, the company holds a 100% interest in the licences.
Northern made application for these licences October 2008 and it is good news that the group were able to receive these awards so quickly in the highly prospective area. Work will commence on these sites and will extend the company's acreage once again in the area.
With the deal for ATI nearing completion and these further awards of prospective licences the company continues to move forward at pace. Northern remains in excellent shape with significant cash and ever increasing oil reserves, at 126p the stance remains "buy" at up to 175p with a target of 392p.
Proactive Investors
12 May 2009
Fox-Davies Capital Tuesday Energy and Mining News Wrap
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Energy Business Review
12 May 2009
Northern Petroleum Wins Two Offshore Italian Permits
Full article
Proactive Investors
6 May 2009
"Northern Petroleum successfully uses new technology for speedier well completion"
Full article
Proactive Investors
30 April 2009
"Northern Petroleum wins further exploration block in South England’s Weald Basin"
Full article
Proactive Investors
21 April 2009
"Northern Petroleum starts 2 wells Netherlands drilling programme"
Full article
Investors Chronicle
17 April 2009
Friday's news and tips
“…Last year's strong energy prices boosted revenue from Northern Petroleum's Waalwijk and P12 gas fields by 11%, the oil and gas group said today…”
Full article
CityAM
17 April 2009
London close: Lloyds and RBS lead the advance
“…Last year's strong energy prices boosted revenue from Northern Petroleum's Waalwijk and P12 gas fields by 11%, the high-flying oil and gas group said today…”
Full article
Reuters
17 April 2009
Northern Petroleum says higher prices boost '08 revenue
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Upstreamonline.com
17 April 2009
Price surge pays off for Northern
Full article
SmallCapNews
17 April 2009
Oil & Gas Round-Up: 17 April
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ShareCast
17 April 2009
Higher prices lift revenue at Northern Petroleum
Full article
Proactive Investors
17 April 2009
“Northern Petroleum 2008 revenues up as lower production offset by higher prices”
Full article
Oilbarrel.com
16 April 2009
Northern Buys Out Cash-Strapped ATI Oil As It Makes Progress In Italy And The Netherlands
Full article
CityAM
16 April 2009
Spotlight in Small Caps
“… Northern Petroleum shares jumped almost 15 per cent to 111.5p after its fully-owned subsidiary was awarded a preliminary licence to drill off the Sicilian coast…”
T1ps.com
15 April 2009
Northern Petroleum - Award of Licence
Northern Petroleum (NOP) has announced that its subsidiary, Northern Petroleum (UK), has been advised of the preliminary award of the offshore Italian licence d351C.R-.NP, covering 100km². The company has been invited to prepare the required environmental impact study on which work will now commence. The licence is adjacent to the C.R146.NP, close to the Maltese maritime boundary and also includes an extension to an existing mapped prospect within C.R146.NP. The company holds a 100% interest in the licence but a subsidiary of ATI Oil, in which Northern holds a 37.04% stake in, has a 50% pari passu commercial interest in the licence. But as you know ATI is in the process of being bought out totally by Northern.
In addition Northern has made a charitable donation to a relief fund for the victims of the recent earthquake in Italy.
As the award is adjacent to C.R146.NP it extends the possible exploration area and adds to the company's well established position in the area. This news is hardly earth shattering and I had no idea that it was on the way. frankly it does not alter my valuation a jot. You may have noted that earlier today the t1ps Fund added to its Northern holding. I cannot rule out further purchases as this stock is very cheap. At 111.5p, the company has a market cap of £85 million which is less than the proven ( via trade sales) value of its Dutch operations alone. The stance remains buy at up to 175p with a target price still 400p.
T1ps.com
15 April 2009
2 New Investments by the SF t1ps Growth Fund
We have made two material investments this week. The first is that we took part in a placing of shares by Golden Prospect Precious Metals (GPM) investing £100,000 at 40p which is what NAV is today. This is the company spun out of Ambrian which is essentially doing what Golden Prospect did so well before it became Ambrian. RSH's chairman Malcolm Burne is involved in this vehicle too. Golden will hold a portfolio of producing and near producing gold plays so WHEN the gold price storms ahead this will be a geared play on that.
Today we have added materially to our holding in Northern Petroleum (NOP). We need more exposure to oil and Northern is a de-risked investment by nature of its large cash position. I cannot see how the shares are worth less than 400p on a sum-of-the-parts basis. Oil juniors are unloved but that will change WHEN the oil price moves higher - I still expect a $60 average for 2009. As such now is a good time to add to our holding.
Forbes
15 April 2009
BRIEF-Northern Petroleum award of licence offshore Sicily
Full story
Proactive Investors
15 April 2009
Northern Petroleum wins licence offshore Sicily
Full article
ShareCast
15 April 2009
Northern Petroleum awarded licence offshore Sicily
Full article
Energy Current
15 April 2009
Italy awards Northern Petroleum Sicilian license
Full article
Proactive Investors
15 April 2009
"Northern Petroleum wins licence offshore Sicily"
Full article
Proactive Investors
7 April 2009
"Northern Petroleum making progress in the Netherlands"
Full article
Proactive Investors
3 April 2009
"Northern Petroleum to acquire ATI Oil in all share deal"
Full article
Investors Chronicle
30 March 2009
LOWDOWN: Investing in junior oil and gas
...Companies can further de-risk projects by ‘farming-out’ interests to other firms in return for these firms carrying out work on the licence, for example acquiring seismic surveys or drilling. Faroe Petroleum, Aurelian Oil & Gas and Northern Petroleum have added substantial value to their portfolios through adroit use of their ‘hydrocarbon wealth’ in this manner...
Full article
Proactive Investors
27 March 2009
"Northern Petroleum completes seismic work offshore Pantelleria, Italy"
Full article
Energy Current
18 March 2009
"Northern Petroleum finishes first part of Sicilian survey"
Full article
Energy Business Review
18 March 2009
"Northern Petroleum UK commences drilling operations in Italy"
Full article
Proactive Investors UK
18 March 2009
"Northern Petroleum completes 2D seismic offshore Sicily under Shell farm-in deal"
Full article
Offshore
18 March 2009
"Northern Petroleum completes West Sicily 2D seismic acquisition"
Full article
Proactive Investors UK
13 March 2009
"Northern Petroleum starts drilling on gas prospect in Italy’s Po Valley"
Full article
Proactive Investors UK
12 March 2009
"Northern Petroleum gets planning permission to drill Havant-1 well in Hampshire"
Full article
Proactive Investors UK
17 February 2009
"Northern Petroleum and Shell commence seismic program in Sicily"
Full article
Proactive Investors UK
27 January 2009
“Northern Petroleum says Avington oil field in Hampshire starts production”
Full article
Proactive Investors UK
26 January 2009
“Northern Petroleum says preparation for Savio-1X well continuing”
Full article
“Northern Petroleum and Shell complete Sicily Channel licence deal”
Full article
Proactive Investors UK
21 January 2009
“Northern Petroleum says Dutch gas field production may be double the initial forecast"
Full article
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