Embargoed for release: 17th April 2013 at 1140 Northern Petroleum Plc ("Northern" or "the Company") Offshore French Guiana GM-ES-3 Exploration Well Operations Extended Northern Petroleum Plc (AIM:NOP) announces the joint venture decision to extend current drilling operations on the Guyane Maritime permit in French Guiana. The GM-ES-3 exploration well is the second well of a four well exploration drilling campaign that commenced in 2012 to follow up the oil discovery at GM-ES-1 in 2011. The GM-ES-2 well had exploration objectives in the major Cingulata fan system within which the original oil discovery was made in two ages of formation. GM-ES-3 has been planned to deliver exploration information in the subsidiary Priodontes fan system to the north west of the Zaedyus oil discovery. The GM-ES-3 well intersected a 50 metres gross section of oil stained sands in the lower part of the Bradypus fan which was not a target formation at this location although it is also within the main Cingulata fan system. A 325 metres gross interval of sandstones was encountered in the targeted Priodontes fan, but these were logged with no significant hydrocarbon shows. It has been decided by the Shell, Total, Tullow Oil and Northpet Investments Limited joint venture that this well provides a suitable location to drill deeper in a plan to penetrate the full post Atlantic rift sequence. The duration of this additional drilling will depend upon results from the formations encountered. This information may prove crucial to a fuller understanding of the exploration potential of this very large licensed area. Although this extension may cause a small delay to the further wells in this exploration programme, the earlier the deeper formations are examined, the better the advantages to be gained from its use in the second part of the drilling programme and aid efforts towards discovering more oil. The well is now targeted to reach a final depth of 6438 meters subject to operational factors. Derek Musgrove, Managing Director of Northern stated: "Following the oil discoveries of GM-ES-1 in 2011, the task before us was to explore the licence to ascertain its wider potential. Whilst the sand package in the primary target proved not to have significant hydrocarbons at this location, the oil staining encountered in the Bradypus fan is encouraging of the broader active hydrocarbon systems and potential. "Northern supports this fuller exploration approach to this well. It is likely to provide Partners with further geological data imperative to gaining further understanding of the complex geology in this area" In accordance with 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 complied, 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 - Corporate Finance FTI Consulting Tel: +44 (0)20 7831 3113 Billy Clegg Bishopsgate Communications Tel: +44 (0)20 7562 3350 Nick Rome Note to Editors: Northern is a full cycle oil and gas company currently holding numerous 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 www.northpet.com END -0- Apr/17/2013 10:45 GMT
NORTHERN PETROLEUM PLC: Guyane Update
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