Completion of Offshore Sicily Seismic 3D Survey
Northern announces that on 20th March 2010 it completed the seismic operations in offshore West Sicily thrust belt covering four licences - G.R17.NP, G.R20.NP, G.R21.NP and G.R22.NP. Seismic acquisition commenced on 14 January 2010 and a total of 1520 km² of 3D seismic data has been acquired using the vessel ‘M/V Atlantic Explorer’ contracted from Petroleum Geo-Services Asia Pacific-Pte Limited.
The seismic acquisition is part of the work programme being funded by Shell Italia E&P S.p.A. (“Shell”) as part of the farm-in arrangement announced in December 2008. The aim of the survey is to obtain a better quality, and more complete, definition of the encouraging structures identified by the two previous 2D seismic campaigns, and firm up prospects for drilling.
Under the terms of the farm-in agreement Shell holds 55% in G.R17.NP, and 70% in G.R20.NP, G.R21.NP and G.R22.NP.
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
Sophie Hull, Head of Corporate Communications
Brokers to the Company
Jefferies International
Tel: +44 (0) 20 7029 8000
Chris Snoxall / Schuyler Evans
Astaire Securities
Tel: +44 (0) 20 7448 4400
Jerry Keen / Toby Gibbs
Reserves Summary
At 30 Jun 2011
- Oil Million bbl: 70.80
- Gas bcf: 103.77
- Petroleum Million boe: 88.69