10th Jul 2006 07:00
Embargoed for release: 0700 on 10 July 2006 Northern Petroleum Plc ("Northern" or the "Company") TRANSFER OF ANDEL LICENCE Northern announces that the Ministerie van Economische Zaken ("the Ministry")in the Netherlands has formally consented to the subdivision of the Andel IIlicence held by Nederlandse Aardolie Maatschappij B.V. ("NAM"). The Ministryhas also consented to the transfers of the new Andel III licence between NAMand Northern's wholly owned Netherlands subsidiary NP Netherlands B.V. ("NPN").Preparation of the subsequent documentation is underway.The new Andel III licence contains the Andel, Brakel and Ottoland discoveriesthat Northern has secured under the terms of its agreements with NAM. NPN alsohas a commitment to NAM to drill one exploration well on the Andel III licencewithin the next two years.Derek Musgrove, Managing Director of Northern, stated:"Northern is delighted to have received the approval for this transferfollowing the award of the 25 year Papekop Production Licence last month. Wenow look forward to bringing Ottoland and Papekop, our two oil developmentprojects, into production as soon as possible. With these transfers soon to bein place we are reviewing the possibility of significantly increasing oilproduction levels at an earlier stage than originally planned."For further information please contact:Northern Petroleum PlcDerek Musgrove, Managing DirectorGraham Heard, Exploration ManagerTel: +44(0)20 7743 6080InvestecMichael AnsellTel: +44(0)20 7597 5000Panmure Gordon & CoKatherine RoeTel: +44(0)20 7459 3600Hansard CommunicationsChris RobertsBen SimonsTel. +44(0)20 7245 1100Further information on Northern Petroleum Plc is available via our website,www.northpet.comENDNORTHERN PETROLEUM PLCRelated Shares:
Cabot Energy