Embargoed for release: 0700 on 23rd July 2013
Northern Petroleum Plc
("Northern" or "the Company")
Completion of GM-ES-4 Exploration Well
Further to the release on the 8th May 2013, Northern Petroleum Plc (AIM: NOP)
announces the conclusion of drilling activities on the GM-ES-4 well in French
Guiana. The well penetrated the primary and secondary reservoir objectives
before drilling operations were concluded at a total depth of 6,292m. The
results of the wireline logging programme have confirmed the presence of
reservoir, however no evidence of hydrocarbons is seen from the drilling or
wireline log data. The well is now being plugged and abandoned.
The Stena ICEMax will now drill the GM-ES-5 exploration well which will be
located on the Cingulata fan in which the Zaedyus discovery was made in 2011.
The well is designed to explore deeper targets within the Cingulata fan complex
and will also test the potential downdip extension of the GM-ES-1 discovery.
GM-ES-5 is the last in a four well exploration drilling campaign that commenced
in mid 2012 to follow up the Zaedyus oil discovery made in 2011.
Northern, through holding 50 per cent of Northpet Investment Limited, owns a
net 1.25 per cent interest in the offshore exploration licence `Guyane
Maritime'. Northern is in partnership with Shell (Operator, holding 45 per
cent), Total (25 per cent), Tullow Oil (27.5 per cent) and Wessex Exploration
(also holding 1.25 percent through owning the remaining 50 per cent interest in
Northpet Investment Limited).
Keith Bush, Chief Executive Officer of Northern, stated:
"Whilst the GM-ES-4 well has not encountered hydrocarbons, the data from this
well and the previous wells drilled to date will be integrated with the new
`Central Slope' 3D seismic volume covering in excess of 4,300 square
kilometres. This additional information will allow the partnership to further
de-risk the prospect portfolio held under licence in the Guyane Maritime
permit. I now look forward to the drilling of the GM-ES-5 well and the
opportunity that it presents the Company and Shareholders."
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
Keith Bush, Chief Executive Officer
Graham Heard, Exploration & Technical Director
Westhouse Securities (Nomad and Broker) Tel: +44 (0)20 7601 6100
Richard Baty - Corporate Finance
Ian Napier - Corporate Broking
FTI Consulting Tel: +44 (0) 20 7831 3113
Bishopsgate Communications Tel: +44(0)20 7562 3350
Notes 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 at www.northpet.com.
-0- Jul/23/2013 06:00 GMT
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