looks like its hit oil, don't know whats gonna happen, any idea's ???

Amities /What with rotary rig count at current levels(acc. to Baker-Hughes up 16.2% in the Americas and 10.1% in the rest of the world) there is a chronic shortage of avaialable rigs. Hence delays globally.. The statement from NOP can only be viewed with optimism and prudence should they make a strike.As if operating from strenth and with foresight.Prerequisite geologies supported by more than impressive seismic data more than suggests the presence of hydrocarbons ; and subsequently i have quite a few with a basket price of 4.25 and 6.25 and 8.25 ( the last buy being a little impetous) respectively.They seem to have a army of support at 9.5 ; but that illusive "price tag" of 10p+ is encountering strong resistance . l fully anticipate a drilling update reg. drilling inception to be the very impetus to take it convincingly through the 10p s/p ,and then wait some more for results The waiting game . ,,,,et...Alors !! qui sait ?. a'bientot @+ J

Amities/ What with todays RNS announcing NOP's succesful procurement of drill No. 28 with inception commencing a.s.a.p after April 21st which is the date pencilled in for the rigs arrival, i am both rather bemused, yet totally confused by todays selling.lt utterly defies basic logic. Why hold a stock to only sell when it is radidly approaching the exiting culmination of many years hard work ? This "back to back " twin project at Sandhills has the potential to be a real company maker. Even if but 50% of estimates prove realistic the price of low sulphur sweet crude sitting a tad in excess of $55 and Henry Hub gas prices riding high all makes for a hefty addition to NOPs coffers.What is more the oil is unhedged.Furthermore the basket price being attained by producers from refiners stands at $40 22c( sour crude from Middle East and Venezula) to $41-89c (for Brent) to $43-26c for WTI.Even more for the likes of "Lousianna sweet" At such prices NOP appears totally underated And what with other irons in the fire a re-rating is surely inevitable. As for today -l simply dont understand. Even the mms attempted to make a market today as opposed to holding this one in check. ,,,,Bonne nuit Bonne chance ...a/b ,,@+ J

TFC, Agreed

The selling over the last few weeks has been horrific. Unbelievable. Perhaps we could do with a warning of some sort to take us to 20p/share

Funny to see that both Hereward and Northern are "allowing" the drilling to be postponed. They should learn from JR Ewing!

It's the usual shit from NOP, anything but drill seems to be the word.





Prolly going to need it in the morning.

Do they know how to drill for oil,not water.

NORTHERN PETROLEUM PLC

INDEPENDENT SOUTH OF ENGLAND ASSET VALUATION

VALUATION ATTRIBUTES 51.6 MILLION TO NORTHERN PETROLEUM PROVEN AND PROBABLE
RESERVES IN ISLE OF WIGHT, HAMPSHIRE AND WEST SUSSEX

Northern Petroleum Plc ('Northern') announces that it has received an
independent evaluation of oil and gas properties in the Isle of Wight,
Hampshire and West Sussex, held under licence by the Northern Group of
companies, from Exploration Consultants Limited ('ECL').

The ECL report makes the judgement that previous drilling and testing of wells
in the area has proven the existence of three oilfields to which reserves, net
to Northern, have been attributed in the proven category as defined by The
Society of Petroleum Engineers and compliant with the UK Listing Authority
guidelines. A further seven discovered oilfields have been attributed reserves
in the probable and possible categories. All fields have undergone a full
reserves evaluation using standard industry techniques in the proven, probable
and possible categories as defined by The Society of Petroleum Engineers and
are summarised below.

Net Northern Reserves (Million barrels)

Reserve Category Wessex Channel Weald Total

Proven 0 1.27 1.27

Proven + Probable 6.64 3.6 10.24

Proven + Probable + Possible 28.7 26.5 55.2


Net Northern NPV10* ( Millions)

Reserve Category Wessex Channel Weald Total

Proven 0 4.65 4.65

Proven + Probable 35.7 15.9 51.6

Proven + Probable + Possible 151.2 122.2 273.4

*calculated using a discount rate of 10%

In addition, ECL has evaluated the prospective reserves (i.e. for defined
exploration prospects) and the contingent reserves applicable in the event of
higher recovery factors in oolite reservoirs, to be achieved mainly from the
successful implementation of multi-lateral drilling techniques. In part this
may be dependent on application of new technology.

Net Northern Additional Reserves (Million barrels)

Reserve Category Wessex Channel Weald Total

Contingent 9.7 5.5 15.2

Prospective 53.3 2.9 56.2

The value attributed to the combined contingent reserves on an unrisked basis
at NPV10 is 83million. On a risked and full cost development scenario basis
the prospective resources have been assigned a significant value.

The report does not cover all the leads and prospects that Northern is working
on, nor does its scope encompass Licences PEDL 151, PEDL 152, PEDL 089 (B),
P1153 (Blocks 98/7b & 98/8a) in the Wessex Channel Basin, PEDL 154 in the Weald
Basin and two licences held in Kent as work is currently in progress.

Derek Musgrove, Managing Director of Northern, stated, 'I believe that this is
the first time that we have been able to demonstrate the value resulting from
our extensive work and holdings in these two basins in the South of England. I
am delighted that an independent report so clearly demonstrates the under
appreciation of our assets in this region. Furthermore, this should not
distract from Northern's other assets in Italy, Spain, and Guyane.

Our drilling programme is shortly to commence with two wells on the Isle of
Wight in the Wessex-Channel Basin and we will move to obtain drilling locations
and planning consents in the Weald Basin once the May 5th 2005 election
activities have passed.'

Contacts:

Derek Musgrove, Managing Director

Northern Petroleum Plc

Tel. 020 7743 6080

Chris Roberts/Ben Simons

Hansard Communications

I shall wear my new Stetson with pride!

any idea of target price it was 0.31 a few months ago.

Dont know where you got the 31p from but Evolution, the house broker set a target price of 20p by end of 2005.

20p will doo nicely!

Does anyone know if rig 28 is on route yet?

Believe its still at Mattersey.

Now I'm told the rig is at Grimethorpe for about two weeks, what a waste of time! I decided to get out last week. Not complaining nice profit but would have been nice if the management had kept shareholders informed.

Now said by NOP Management to be going to arrive at IOW in late June - see RNS today.

No new news but at least there is some media coverage.

OIL HUNT TO BEGIN BY END OF MONTH
02 June 2005
The hunt for black gold at a site on the Island is stepping up a gear.

Northern Petroleum, the company behind the explorations, has announced that preparatory work using a small rig will begin next week at Porchfield, with a view to starting drilling by the end of June. The firm hopes it will confirm the presence of at least 6 million barrels of recoverable oil at both the sites it has planning permission to work at, the other being Bouldnor Copse. The rig heading to Porchfield was originally due to start drilling here in April but was diverted to another site on the mainland.

From solent.tv

Here's a small item from the local paper:

http://www.iwcp.co.uk/ViewArticle2.aspx?SectionID=1252&ArticleID=1048451

Niels thanks for that little snippet of positive news. It's good to hear a confirmed sighting of work starting.

You are welcome :) Actually I live within a mile of the site and will report on future developments.

Surprised that no one has posted this from yesterday. I have held these from 4p and will continue to hold as long term NOP will reward me many many times over.
Di

For immediate release: 14 June 2005

Northern Petroleum Plc

('Northern' or 'the Company')

Agreements with Nederlandse Aardolie Maatschappij B.V. to acquire up to
eight oil & gas discoveries in the Netherlands

Northern Petroleum Plc's wholly owned Netherlands subsidiary, NP Netherlands
B.V. ('NPN'), and Nederlandse Aardolie Maatschappij B.V. ('NAM'), a company
jointly owned by Shell and ExxonMobil, have entered agreements (the
'Agreements') involving cooperation onshore Netherlands concerning eight
discoveries and seven exploration prospects.

Under the Agreements, an initial package of up to eight undeveloped oil and gas
discoveries will, following NPN's exercise of an option ('the Option'), be
transferred to NPN who will immediately assume operating responsibility after
receipt of government approvals. NPN will develop the discoveries and receive
100% pay-back of its cost plus an uplift of 30%, thereafter splitting all
future profits equally with NAM.

Six of the discoveries have suspended wells that were successfully tested. The
gross in-place volumes are currently estimated at 170 billion cubic feet of gas
(53 bcf net to NPN) and 41 million barrels of oil (12.4million barrels net to
NPN)

The Agreements further provide for NPN to acquire 50% of NAM's interests in a
number of additional onshore exploration areas where NAM has identified gas
prospects. Gross in-place volumes of gas have been estimated at between 0.8 and
1.2 trillion cubic feet, in a total area equivalent to seven UK North Sea
Blocks. This is 340bcf to 520bcf net to NPN, allowing for partners, other than
NAM, where applicable. NPN will have the right to earn these interests by
drilling and covering the combined NAM and NPN expenses of up to seven
exploration wells, of which NPN has already committed to one, and will be
obligated to an additional two upon exercise of the Option. The Agreement
provides for NPN to recover all dry hole costs out of the pre-tax revenues from
future discoveries and share the profits from the jointly held stakes with NAM
on an equal basis.

Northern welcomes the opportunity to gain a valuable portfolio of discoveries
which we would intend to develop quickly together with access to significant
exploration potential in what would represent a major new core area for
Northern in another EU nation.

The Agreements are subject to normal Government consents save for the already
committed exploration well scheduled for 2006.

Derek Musgrove, Managing Director of Northern stated, 'Northern has moved to
add a major new core area to its business as a low-cost operator and explorer.
The fact that these NAM discoveries are potentially ready for development, with
wells in place is of great importance to us. Northern's proven and probable
reserves will then increase and the recognised need for production cash-flow
may be achieved earlier and with significant cost savings.

We have an outline plan in place for the development of these assets and
greatly look forward to working with the Netherlands authorities and people to
develop our joint venture projects with NAM over the coming years. Like other
Northern areas of operation, the onshore of the Netherlands is environmentally
sensitive with special local concerns. We will be working together with all
stakeholders to build both a profitable and environmentally friendly oil and
gas business, not always at the smaller end of the industry.'

For further information please contact:

Derek Musgrove, Managing Director
Northern Petroleum
Tel. 020 7743 6080

Ben Simons/Chris Roberts
Hansard Communications
Tel. 020 7245 1100