Canadian acquisition consideration paid

Northern Petroleum Plc

("Northern Petroleum" or "the Company")

Canadian acquisition consideration paid

Northern Petroleum (AIM: NOP) confirms that the cash consideration for the acquisition of Canadian production and reserves (the "Rainbow Assets") announced on 12 November 2015 has now been paid to the vendor and final completion of the acquisition is subject to the assignment of the leases to the Company by the Alberta Energy Regulator ("AER"), which is expect to occur shortly.

The assignment of the leases by the AER is itself subject to the deposit with the AER of any net abandonment liability, when calculated against the deemed value of the assets. This deposit is expected to be approximately US$450,000 and will be returned to the Company by the AER once production, and therefore asset value, increases, which is expected to occur after the winter work programme mid next year.

-Ends-

For further information please contact:

Northern Petroleum Plc Tel: +44 (0)20 7469 2900

Keith Bush, Chief Executive Officer

Nick Morgan, Finance Director

Westhouse Securities Limited (Nomad and Joint Broker) Tel: +44 (0)20 7601 6100

Alastair Stratton

Robert Finlay

FirstEnergy Capital LLP (Joint Broker) Tel: +44 (0)20 7448 0200

Jonathan Wright

Note to Editors:

Northern Petroleum is an oil and gas company focused on production led growth. The Company is undertaking a redevelopment and production project in north west Alberta and has a broader portfolio of exploration and appraisal opportunities in countries of relatively low political risk, primarily Italy. Comprehensive information on Northern Petroleum and its oil and gas operations, including press releases, annual reports and interim reports are available from Northern Petroleum's website: www.northernpetroleum.com