7th Sep 2011 07:00
07 September 2011 OIL TESTING ("Northern" or the "Company")
Northern Petroleum plc is pleased to announce that it has started operations for an extended well test of the Markwells Wood oil discovery in West Sussex. The test will enable Northern Petroleum and its joint venture partners - Magellan Petroleum (UK) Limited and Egdon Resources U.K. Limited - to evaluate the potential and scheme for future development of the Markwells Wood oil accumulation.
The Workover rig arrived on site on Tuesday 06 September 2011. The production string is being installed prior to the installation of testing facilities to enable testing operations to begin in early October 2011.
Production testing may take 40 days and will utilise a Linear Reciprocal Pump that has a lower height profile, lower noise emission and a smaller footprint than the more traditional `Nodding Donkey' pump.
Depending on the results of those initial tests, acid stimulation may be applied to the reservoir formation.
Interests in Licence 126 are as follows:
Northern Petroleum (GB) Limited 50%
Magellan Petroleum (UK) Limited 40%
Egdon Resources U.K. Limited 10%
Derek Musgrove, the Managing Director of Northern Petroleum stated:
"Oil was encountered during the drilling of Markwells Wood towards the end of 2010. A core sample in the Great Oolite reservoir formation was successfully recovered and subsequently subjected to many laboratory tests. These established petrophysical characteristics of the formation and preferred stimulation treatments if required. Following completion of this work, the current programme was designed and contracts issued."
In accordance with the AIM Rules - Guidance for Mining and Oil & Gas Companies, the information contained in this announcement has been reviewed and signed off by the Exploration & Technical Director of Northern, Mr. Graham Heard CGeol. FGS, who has over 35 years experience as a petroleum geologist.
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For further information please contact:
Northern Petroleum Plc Tel: +44 (0) 20 7469 2900 Derek Musgrove, Managing Director Chris Foss, Director of Finance, Legal & CorporateAffairs Graham Heard, Exploration & Technical Director Cenkos Securities (NOMAD and Joint Broker) Jon Fitzpatrick Tel: +44 (0) 20 7397 8900 Ken Fleming / Beth McKiernan Tel: +44 (0) 131 220 6939 Jefferies International (Joint Broker) Tel: +44 (0) 20 7029 8000 Chris Snoxall / Marco Baruzzi Financial Dynamics Tel: +44 (0) 20 7831 3113 Billy Clegg / Edward Westropp Bishopsgate Communications Tel: +44 (0) 20 7562 3350 Nick Rome/Shabnam Bashir Notes to Editors:
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