Star Energy is currently testing the Avington well in Southern England.
This will take about 4 weeks an RNS news feed said, it started on 25/06/06.

I hope it proves positive so we get a good share price rise!
We are 5% holders but i'm not sure how much in pence potential this is worth for the company.

Another good reason to hold on to this share.

oops! indeed - take xel last upgrade rns and it tanked - nop have reduced! however see some opportunities for an interesting day ahead here unless you are unfortunate to be in already before this not good at all rns

gl

exit doors already spinning

70p on the line

As I predicted, 74p now and looking gloomy.

Looks like NOP has been mining more water than oil from the rns.

What on earth have they done ?.....bad news this.....TW will not be pleased....

The fall is overdone imo.

At Wijk en Aalburg, which came into commercial production in December 2010,
Northern has experienced the production of increasing quantities of oil,
followed by increasing quantities of water, which has now affected production
levels.

There are several possible explanations for such behaviour. A possibility could
be a near borehole build up of asphaltenes inhibiting flow. The well also has a
geological fault intersecting the base of the reservoir sequence which may be
acting as a conduit for the influx of liquids. It could also be a delay to
influx of lower permeability reservoir matrix gas, as at Grolloo. The issues
are being addressed and instruments were placed in the well on 25th May as a
first step in the determination of possible interventions. The carrying value
of the Wijk en Aalburg field as at 31st December 2010 is approximately 8
million. If the well interventions are ultimately unsuccessful, then Northern
would expect to see significant non cash depletion and impairment charges to
the income statement within the results for the year ending 31st December 2011,
the exact quantum of which would depend on, inter alia, future field
performance and gas prices.

It should be called Southern Petroleum.

Reserve estimates for Geesbrug, Grolloo and Wijk en Aalburg, the Company now expects to report a loss after tax for the year ended 31st December 2010 as a consequence of the resulting additional non cash depletion and impairment charges to the income statement.

Average production for 2010 was approximately 1,200 barrels oil equivalence per
day. The Company expects to report 2010 revenue of approximately 15 million,
broadly in line with market expectations.

Average production for the first four months of 2011 has been just over 1,900
barrels oil equivalence per day.

On average Dutch gas prices have increased by approximately 13% over the first
four months of 2011.

At Grolloo, which started commercial production in late 2009, the initial plan
had been to install compression and or other surface equipment to aid and
increase production once the pressure had stabilised and there was an
observable influx of supplementary gas flow from the lower permeability
reservoir matrix, allowing for the basis of design for the equipment. Until now
no such stabilisation has been observed.

Northern considers that it is not feasible to add compression in time to make a
material impact to 2011 gas production. In conjunction with preparation of the
Annual Report and Accounts for 2010 and for the purposes of production
projection and reserve assessment for the Grolloo gas field, Northern has taken
the decision to adopt what is considered to be the more conservative view that
pressure support from lower permeability reservoir matrix will not occur.

At Wijk en Aalburg, which came into commercial production in December 2010,
Northern has experienced the production of increasing quantities of oil,
followed by increasing quantities of water, which has now affected production
levels.

There are several possible explanations for such behaviour. A possibility could
be a near borehole build up of asphaltenes inhibiting flow. The well also has a
geological fault intersecting the base of the reservoir sequence which may be
acting as a conduit for the influx of liquids. It could also be a delay to
influx of lower permeability reservoir matrix gas, as at Grolloo. The issues
are being addressed and instruments were placed in the well on 25th May as a
first step in the determination of possible interventions. The carrying value
of the Wijk en Aalburg field as at 31st December 2010 is approximately 8
million. If the well interventions are ultimately unsuccessful, then Northern
would expect to see significant non cash depletion and impairment charges to
the income statement within the results for the year ending 31st December 2011,
the exact quantum of which would depend on, inter alia, future field
performance and gas prices.

At Geesbrug, a far larger gas field which was placed on-stream in December
2009, the production performance has been analysed in conjunction with the
disappointing results of the Tiendeveen-1 well five kilometres away. An updated
static reservoir model has been constructed that forms the current basis of the
revised reserves assessment prior to updating the dynamic model.

will be watching for an opportunity here - i like challenges! after 3pm today & tuesday of most interest - yeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaa

No, gibby... the fun was early this morning.

i know i was there lol - it is possible for some more end of day / early tues imo - i meant post this morning
gl

There will be more downward trend when NOP announces its reserves which is expected to be much reduced from previous estimation.

Buy Northern Petroleum (NOP) at 133.75p
Argues Tom Winnifrith of t1ps.com

Tom Winnifrith originally tipped Northern Petroleum (NOP) on t1ps.com way back in 2001 at 13.75p. Since then the shares have risen by 873%! But Tom believes there is still much further to go for the share price and that is why this red hot penny share is todays free share tip on UK-Analyst.com.

On t1ps.com, Tom publishes 20 hot tips like this each year with frequent updates on their progress. And while past performance is no guarantee of future success and some have gone down in value, we believe the overall t1ps record is pretty impressive. Since the foundation of the site in the summer of 2000 to 21st January 2011 across 221 tips, the average gain per tip was 59.64% with an average holding period of 31.7 months.*

And heres why Northern Petroleum is still a buy

Anyone without oil exposure at present needs their head examined. But that does not mean you should buy just any old oil stock. You want one with production not a wildcat explorer. You want one that is cheap at $70 oil but which will go through the roof if the Middle East crisis really kicks off. And you want one with exploration upside as a bonus. The stock you want to own is Northern Petroleum.

Now a few declarations before I go on. This company is a corporate client of Rivington Street Holdings, the owner of UK-Analyst.com. Funds I manage own a shed load of Northern shares (and are well up!) and also I first tipped this on t1ps at 13.75p so my readers are already almost 900% ahead. But that does not mean that you should not be buying more. Our fund has done so in recent months as this stock is just phenomenally cheap even in the unlikely event that the Mid East becomes some sort of multi-party democracy using an electoral system devised by Nick Clegg with women only shortlists and oil goes back to $70.

At 132.75p Northern is valued at 122 million. I value this on a sum of the parts basis. And here goes:

Net cash 20 million.

Holland Its producing assets will at current gas prices generate EBITDA of c20 million a year starting this year. There is exploration upside I value at nothing (but that is harsh) and so on a multiple of 5, which is less than a DCF valuation would arrive at, Holland is worth 100 million. That is very much a base case scenario.

The UK Northern is a producer from stakes in 2 fields (Avington and Horndean) with a 3rd (Markwells Wood) due onstream at some stage. It has exploration upside but I shall ignore that totally. Its assets will produce an average of 1.25 million free cashflow (on an $80 price) for 20 years. I shall be mean as this is onshore UK and value them at 10 million.

Guyane Northern has a 1.25% stake in a potentially giant field where Tullow will be actively driving forward a seismic and drilling campaign over the next two years. Wessex ( which also has a 1.25% stake) says that its stake is, on a risk weighted basis, worth 20 million and there is broker research to support this claim. Heck, if Tullow finds something 20 million will be conservative. But it has not yet. So I value this asset at 5 million but note the upside.

Italy Northern has vast exploration acreage which we already know contains at least 50 million barrels but the size of fields in the region where it operates offshore Italy means the real number could be much much more. Northern is exploiting this via a series of farm out deals the biggest of which is with Shell which has already undertaken a lot of seismic work on its acreage with Northern. Clearly Italy has potential but what will trigger the market realising this? Two things: Further big name farmouts as Northern still has stacks of acreage it is not working on actively. And secondly a commitment from Shell to start drilling. My sense is that there will be other farm out deals over the next six months and I expect a decision from Shell by the end of May. Frankly it could come at any time. Right now Id value the Italian assets at an extraordinarily mean 1 a barrel (so call it 50 million) but if Shell says it is drilling the valuation would have to double or quadruple or more. And another big farmout would have a material effect too.

Conclusion

So already we have a valuation on a sum of the parts basis of our incredibly mean Italian valuation of 185 million or 200p per share. But that Italian number is just wrong. If we get the right news from Shell or another farmout you could easily be valuing Italy at 200 million and as such 200p becomes 362p.

The point about this is that you cannot finesse a trade. Nobody knows when mighty Shell will pronounce. No-one knows at what pace Northern will sign other farm out deals but I am certain that it will. By the time you read a release the price will have zoomed ahead. So you just have to ask yourself: what is the downside to buying now?

I am pretty sure that the UK assets could be sold quickly if Northern accepted 10 million. So that would leave net cash at 30 million and Holland chucking off 20 million a year that is net cash 33p and Holland chucking off 22p per annum. That more than underpins the current share price on its own which leaves more or less zero downside risk. So the smart investor just takes the plunge, buys now and waits on Italy. It should not be long. The shares should be trading at 200p right now with the right news from the land of Berlusconi then 362p is not unrealistic. That means that, even if you are already 900% ahead, Northern is a slam dunk buy.

For more hot tips like this from Tom, join t1ps.com now.

I will buy next week.

having held both EO and XEL when they dumped, i'm amazed i have never ever held this one - must be a lot of very sore heads

euhhh....yes...

Did you buy any mitzy. I held this stock until January. Never seemed to move for me.
So low now must move up. Good luck if you purchased.

KeywordCompanyEPIC/TIDMSEDOL/ISIN Print Wednesday 08 June, 2011Northern Petroleum PLC
Annual Report and Notice of Annual General Meeting

Embargoed for release: 1730 on 8 June 2011

Northern Petroleum Plc

("Northern" or the "Company")

Annual Report and Notice of Annual General Meeting

Northern is pleased to announce that the 2010 Annual Report, incorporating the
Notice of Annual General Meeting ("AGM"), is now available on the Company's
website (www.northpet.com) and will shortly be posted to shareholders.

The text of the AGM Notice is reproduced in full below:

NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Company will be
held at Stationers' Hall, Ave Maria Lane, London, EC4M 7DD on 29 June 2011 at
10.30am for the following purposes:

To consider and, if thought fit, pass the following resolutions to be proposed
as Ordinary Resolutions:

1. To receive the report of the Directors and the audited accounts for the year
ended 31 December 2010.

2. To re-appoint KPMG Audit Plc as auditors and to authorise the Directors to
fix their remuneration.

3. To re-elect A N Brewer (who retires from office in accordance with Article
108 of the Company's Articles) as a Director of the Company.

4. To authorise the Directors, pursuant to and in accordance with section 551
of the Companies Act 2006 (the "Act") to exercise all powers of the Company to
allot ordinary shares in the capital of the Company and grant rights to
subscribe for or convert any security into ordinary shares up to a maximum
aggregate nominal value of 1,162,500 (being approximately 25% of the Company's
issued share capital as at the date of this notice), provided that such
authority shall expire at the conclusion of the next Annual General Meeting of
the Company, except that the Directors may, before such expiry, make offers or
agreements which would or might require ordinary shares to be allotted or
rights to be granted after such expiry and allot ordinary shares or grant
rights in pursuance of such offers or agreements.

To consider and, if thought fit, pass the following resolutions to be proposed
as Special Resolutions:

5. To authorise the Directors, pursuant to and in accordance with section 570
and 573 of the Act, to allot equity securities (as defined in section 560 of
the Act) for cash as if sub-section 561 of the Act did not apply to the
allotment of equity securities pursuant to the authority conferred on them
under section 551 of the Act up to the aggregate nominal value of 465,000
(being approximately 10% of the Company's issued share capital as at the date
of this notice), such power to expire on the earlier of the conclusion of the
next Annual General Meeting of the Company and 15 months after the date of the
resolution (but so as to enable the Company, before the expiry of such power,
to make offers or agreements which would or might require equity securities to
be allotted after such expiry and to enable them to allot equity securities for
cash pursuant to such offers or agreements as if the power conferred thereby
had not expired).

6. To authorise the Company, generally and unconditionally, to make market
purchases (within the meaning of section 693(4) of the Act) pursuant to and in
accordance with section 701 of the Act of fully paid ordinary shares in the
capital of the Company upon and subject to the following conditions but
otherwise unconditionally:

a. the maximum number of ordinary shares hereby authorised to be purchased is
4,650,000, which is approximately 5% of the ordinary share capital of the
Company as at the date of this notice;

b. the maximum price which may be paid for each such ordinary share shall be
an amount no more than 105% of the average of the middle market quotations
for an ordinary share as derived from the Alternative Investment Market of
the London Stock Exchange for the five business days immediately preceding
the day on which such ordinary share is contracted to be purchased
(excluding expenses) and the minimum price which may be paid for such
ordinary share shall be the nominal value of such ordinary share at the
time of such purchase (excluding expenses); and

c. unless previously varied, revoked or renewed, the authority conferred by
this resolution shall expire on the earlier of the date 15 months after the
passing of this resolution and at the conclusion of the next Annual General
Meeting of the Company after the date on which this resolution is passed,
provided that the Company may before such expiry date enter into a contract
to purchase ordinary shares under this authority which will or may be
completed or executed wholly or partly after the expiration of such
authority and may make a purchase of ordinary shares in pursuance of such
contract.

By order of the Board

C J Foss

Secretary

Registered Office:

2nd Floor, Martin House

5 Martin Lane

London

EC4R 0DP

Dated 7 June 2011

Notes:

1. A member of the Company entitled to attend and vote at the meeting convened
by this Notice may appoint a proxy to attend and vote on a poll in his stead. A
proxy need not be a member of the Company. A member may appoint more than one
proxy provided that such appointment is in respect of voting rights attaching
to different shares.

2. To be valid, the enclosed Form of Proxy must be completed and lodged
together with the Power of Attorney or any other authority (if any) under which
it is signed, or a notarially certified copy thereof, at the offices of the
Company's Registrars, Neville Registrars Limited, Neville House, 18 Laurel
Lane, Halesowen, West Midlands B63 3DA not less than forty eight hours before
the time appointed for holding the meeting.

3. Completion of the proxy does not preclude a member from attending and voting
at the meeting if they so wish.

4. The Company, pursuant to Regulation 41 of the Uncertificated Securities
Regulations 2001, hereby specifies that only those shareholders registered on
the Register of Members of the Company at 10.30am on 27 June 2011 shall be
entitled to attend or vote at the meeting in respect of shares registered in
their name at the time. Changes to entries on the relevant Register of Members
after this time shall be disregarded in determining the rights of any person to
attend or vote at the meeting, notwithstanding any provisions in any enactment,
the articles of association of the Company or other instrument to the contrary.

- Ends -

For further information please contact:

Northern Petroleum Plc Tel: +44 (0) 20 7469 2900

Chris Foss, Company Secretary

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

Financial Dynamics Tel: +44 (0) 20 7831 3113

Billy Clegg / Edward Westropp

Bishopsgate Communications Tel: +44 (0) 20 7562 3350

Nick Rome / Michael Kinirons

Notes to Editors:

Further information on Northern is available at www.northpet.com