Embargoed for release: 3rd January 2013 at 0700 Northern Petroleum Plc ("Northern" or "the Company" (AIM: NOP)) Guyane GM-ES-3 Well Spudded Northern Petroleum Plc is pleased to announce that GM-ES-3 the second well of the current four-well programme in the Guyane Maritime Permit (French Guiana), was spudded by Shell as Operator on 29th December 2012. This well has been located to test the Priodontes Prospect and provide further geological data critical to gaining a better understanding of the potential of this area as a new offshore oil province. Northern through holding 50 per cent of Northpet Investments Limited, owns a net 1.25 per cent interest in the offshore exploration licence `Guyane Maritime'. Northern is in partnership with Shell (Operator, 45%), Total (25%), Tullow Oil (27.5%), and Wessex Exploration (also a 1.25 per cent holder through owning the remaining 50 per cent interest in Northpet Investments Limited). Derek Musgrove, Managing Director of Northern stated: "The joint venture with Shell, Total, Tullow and Wessex is continuing upon its vigorous follow up of the successful GM-ES-1 discovery in late 2011. This is the second well in the four well programme to assess the potential of the offshore of Guyane as a new oil province. I look forward to updating shareholders on progress in the coming months". 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 35 years experience as a petroleum geologist. He has compiled, read and approved the technical disclosure in this regulatory announcement. The technical disclosure in this announcement complies with the SPE/WPC standard. For further information please contact: Northern Petroleum Plc Tel: +44 (0)20 7469 2900 Derek Musgrove, Managing Director Graham Heard, Exploration and Technical Director Westhouse Securities (Nomad and Broker) Tel: +44 (0)20 7601 6100 Richard Baty / Petre Norton - Corporate Finance Ian Napier - Corporate Broking FTI Consulting Tel: +44 (0)20 7831 3113 Billy Clegg / Victoria Huxster Bishopsgate Communications Tel: +44(0)20 7562 3350 Nick Rome Notes to Editors: Northern is a full cycle oil and gas company currently holding over 40 licences in a number of low risk areas and is continuing with its strategy of adding and securing value for shareholders as it engages with projects at all stages of the E&P value chain. Comprehensive information on Northern and its oil and gas operations, including all press releases,annual reports and interim reports are available from Northern's website at www.northpet.com. END -0- Jan/03/2013 07:00 GMT
NORTHERN PETROLEUM PLC: Guyane GM-ES-3 Well Spudded
Press spacebar to pause and continue. Press esc to stop.