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

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

A post from the other side from Skidaddle and typical of the sorts of things being said on there:
#
'Correct me if I am wrong, but I seem to recall that 6000cuft of gas is equivalent to 1 barrel of oil.

That would mean that 53billion cuft would be equivalent to 9million barrels of oil(near as damn it).

12.4 +9= 21.4 million barrels of oil, net to NOP.

If you only valued each barrel at 1.5 that would come to virtually the current total value of the company as it now stands(circa 12.75p mid).

Forget about UK, Spain, Italy and cash in the bank............oh and Guyanne.'

Embargoed: 12.00hrs 16 June 2005

NORTHERN PETROLEUM PLC

('The Company')

Northern Petroleum Plc announce that the augering operation was completed at
the Sandhills-2 appraisal site as planned. The 14-inch conductor casing was run
to 67.5 feet below ground level in anticipation of the arrival of the BDF #28
drilling rig.

Once the drilling operations have begun it is planned that progress reports
will be issued at 09.30 hours each Wednesday. Should anything significant and
material occur a release will be made in accordance with AIM Regulations.

Joint venture partners are:

Northern Petroleum (GB) Ltd 57.5 %

Magellan Petroleum (N.T.) Pty Ltd 22.5%

Montrose Industries Ltd 5 %

Black Rock Resources (UK) Ltd 5%

Oil Quest Resources Plc 7.5%

Oil and Gas Investments Ltd 2.5%

If you require any further information please contact:

Chris Roberts

Hansard Communications

020 7245 1100

Derek Musgrove

Northern Petroleum Plc

020 7743 6080

Yep, that's true. I visited the site, all neat and ready for the rig.

http://82.109.68.220/Sandhills 2.jpg

Sandhills 2 site

http://82.109.68.220/Rock and Roll.jpg

This is for real.

http://82.109.68.220/Conductor Casing.jpg

Conductor casing in place.

Thanks for the pictures Niels....NOP is another share that my patience is beginning to show great profit. I have been in NOP since 4p. I really don't think 1 plus is impossible.
:-)