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
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
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
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
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
Bishopsgate Communications Tel: +44 (0)20 7562 3350
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
-0- Apr/17/2013 10:45 GMT
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