Production Starts at the Avington Oil Field
The Company announces that it has been advised by Star Energy Group Plc that the Avington Field, the 6th oil field in Hampshire, came into production on the 23rd January 2009 and is flowing at approximately 300 barrels of oil per day. The decision to switch to jet pump assisted lifting to increase output will be made only after a suitable period of production.
The Partners in Licence PEDL 070 containing the Avington Oil Field are:
| Star Energy Oil UK Ltd (Operator) | 50% |
| Egdon Resources Plc | 20% |
| YCI Resources Ltd | 16.667% |
| Sterling Resources UK Ltd | 8.333% |
| Northern Petroleum GB Ltd | 5% |
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, Mr Graham Heard CGeol FGS, who has over 30 years experience as a petroleum geologist.
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
Investec
Tel: +44 (0) 20 7597 5000
Michael Ansell / Patrick Robb
Blue Oar
Tel: +44 (0) 20 7448 4400
Jerry Keen / Toby Gibbs
Bishopsgate Communications (Press)
Tel: +44 (0) 20 7562 3350
Nick Rome / Maxine Barnes
Buchanan Communications (Analysts)
Tel: +44 (0) 20 7466 5000
Tim Thompson / Ben Romney
Reserves Summary
At 30 Jun 2011
- Oil Million bbl: 70.80
- Gas bcf: 103.77
- Petroleum Million boe: 88.69