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 SPE/WPC standard. 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 Edward Westropp Bishopsgate Communications Tel: +44(0)20 7562 3350 Nick Rome 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. END -0- Jul/23/2013 06:00 GMT
NORTHERN PETROLEUM PLC: Completion of GM-ES-4 Exploration Well
Press spacebar to pause and continue. Press esc to stop.