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Northern Petroleum Plc

Northern Petroleum Plc is an EU oil company that acquires low entry cost exploration, production and development assets and is committed to adding high value to shareholders from production and asset sales.

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Reserves Summary

Unaudited Statement of Net Commercial Oil and Gas Reserve Quantities

Licenses: United Kingdom

Oil Gas Petroleum
At 30 June 2011
Proven Reserves 0.77 - 0.77
Probable Reserves 6.24 - 6.24
7.01 - 7.01

Oil Gas Petroleum
At 31 December 2010
Proven Reserves 0.77 - 0.77
Probable Reserves 6.24 - 6.24
7.01 - 7.01

Notes

  1. The Reserve estimates shown in this report are based upon the joint reserve and resource definitions of the Society of Petroleum Engineers, the World Petroleum Congress, and the American Association of Petroleum Geologists.

  2. Proven and probable reserves in the UK represent the Group’s reserves as determined during 2010 by RPS Energy in an independent valuation of some of the Group’s oil and gas assets in the Weald Basin, adjusted for subsequent production where applicable. Further information is given in note 11 to the 2010 Report & Accounts.

  3. Quantities of oil equivalent are calculated using a gas-to-oil conversion factor of 5,800 scf of gas per boe.