15th Jun 2012 10:30
Northern Petroleum Plc ("Northern" (AIM: NOP)) Guyane Press Reports
There is current speculation in the Press regarding the status of the Guyane Maritime exploration licence in French Guyane and comments made by the French Minister of Ecology.
The below statement has been made by the operator, Shell:
"We are aware of the view of the Ministers of Ecology and Industry and Shell, on behalf of the partners, will be discussing this situation further. As an investor in the French Guiana Exploration project, we are obviously concerned but we anticipate a satisfactory solution."
The partner interests in offshore Guyane are:
Shell 45.0%Tullow 27.5%Total 25.0%Northpet Investments 2.5% (Northern owns a 50% equity interestin Northpet) Ends
For further information please contact:
Northern Petroleum Plc
Derek Musgrove, Managing Director Chris Foss, Director of Finance, Legal & Corporate Affairs Tel: +44 (0)20 7469 2900
Cenkos Securities (NOMAD and Joint Broker)Jon FitzpatrickTel: +44(0) 20 7397 8900Ken Fleming / Beth McKiernan Tel:+44 (0) 131 220 6939 Westhouse Securities (Joint Broker) Richard Baty / Petre Norton - Corporate FinanceSanjiv Pandya - Corporate BrokingTel: +44(0) 20 7601 6100FTI ConsultingBilly Clegg / Edward WestroppTel: +44(0) 20 7831 3113Bishopsgate Communications Nick Rome / Shabnam BashirTel: +44(0) 20 7562 3350Notes to Editors:
Northern is a full cycle oil and gas company currently holding over 50 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.
XLONRelated Shares:
Cabot Energy