Extension of Warrants

29th Nov 2005 15:38

Immediate release: 29 November 2005 Northern Petroleum Plc ("Northern" or the "Company") Extension of Warrants Northern announces that the warrants due to lapse on 30 November 2005 and 31December 2005, held by directors and staff, have all had their terms extended.The Remuneration Committee, and subsequently the Board of Directors ofNorthern, has resolved to extend the exercise period of the warrants held byDirectors and staff until 28 July 2006. The Company received notification on 29November 2005 from all class warrant holders agreeing to the variation.The warrants held by directors and staff which have been subject to thisextension are: Name Number of Warrants over Exercise Price Ordinary 5p Shares D.R Musgrove 660,000 11.250p 250,000 15.625p R.H.R Latham 280,000 11.25p 120,000 15.625p J.M White 280,000 11.25p 120,000 15.625p D.A Roberts 100,000 11.25p 80,000 15.625p C.J Foss 200,000 12.50p Employees 400,000 11.25p 450,000 12.50p -Ends- Contacts:Chris Foss, Finance DirectorNorthern Petroleum PlcTel: 020 7743 6080Chris Roberts / Ben SimonsHansard CommunicationsTel. 020 7245 1100ENDNORTHERN PETROLEUM PLC

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