LEEWINK
- 12 Aug 2003 11:59
looks like its hit oil, don't know whats gonna happen, any idea's ???
NielsJensen
- 04 May 2005 10:24
- 117 of 567
I shall wear my new Stetson with pride!
kiaant
- 04 May 2005 10:46
- 118 of 567
any idea of target price it was 0.31 a few months ago.
Janus
- 04 May 2005 19:16
- 119 of 567
Dont know where you got the 31p from but Evolution, the house broker set a target price of 20p by end of 2005.
MaxK
- 04 May 2005 19:30
- 120 of 567
20p will doo nicely!
Oily Jim
- 05 May 2005 09:36
- 121 of 567
Does anyone know if rig 28 is on route yet?
Janus
- 05 May 2005 11:21
- 122 of 567
Believe its still at Mattersey.
Janus
- 23 May 2005 16:47
- 123 of 567
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.
PeterGoddard
- 27 May 2005 18:33
- 124 of 567
Now said by NOP Management to be going to arrive at IOW in late June - see RNS today.
Oily Jim
- 07 Jun 2005 17:10
- 125 of 567
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
NielsJensen
- 09 Jun 2005 21:53
- 126 of 567
Here's a small item from the local paper:
http://www.iwcp.co.uk/ViewArticle2.aspx?SectionID=1252&ArticleID=1048451
Oily Jim
- 10 Jun 2005 08:29
- 127 of 567
Niels thanks for that little snippet of positive news. It's good to hear a confirmed sighting of work starting.
NielsJensen
- 10 Jun 2005 20:49
- 128 of 567
You are welcome :) Actually I live within a mile of the site and will report on future developments.
Dynamite
- 15 Jun 2005 08:56
- 129 of 567
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
NielsJensen
- 16 Jun 2005 12:13
- 132 of 567
Yep, that's true. I visited the site, all neat and ready for the rig.
NielsJensen
- 21 Jun 2005 11:44
- 133 of 567
NielsJensen
- 21 Jun 2005 11:47
- 134 of 567
paulmasterson1
- 21 Jun 2005 13:34
- 136 of 567
Niels Hi,
Thanks for the pics :)
Can I ask what your part is in all this ?
You can send me a private message if you like, or e-mail me via my website
http://www.stanelco.devisland.net
Cheers,
PM