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NORTHERN PETROL ???? (NOP)     

LEEWINK - 12 Aug 2003 11:59

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

NielsJensen - 30 Aug 2005 09:31 - 276 of 567

Paul, no I don't work for the press.

paulmasterson1 - 30 Aug 2005 15:03 - 277 of 567


Niels Hi,

Well, good pics anyway :)

Cheers,
PM

NielsJensen - 06 Sep 2005 10:35 - 278 of 567

Thanks Paul. The fact that the oil/water separation layer was found deeper than anticipated could be good news; it could mean that there might be more recoverable oil than calculated. 2Z should be done by today. Tomorrows drilling update may prove interesting. Note that Evolution still has a target of 141p for this baby.

TheMaster - 07 Sep 2005 09:20 - 279 of 567

Weekly Drill report released, target depth reached and now coring, since not plugged then assume oil found?

mpls - 07 Sep 2005 19:39 - 280 of 567

The RNS today was only disappointing in as much that we'll have to wait a few more days until we know the length of column of the oil and the % saturation etc together with the completion of the well so that a test programme can begin while the rig moves to Boulder. Note that I believe the well is more likely to be completed due to the length of time coring has been going on. If the well was to be abandoned then I think that would've happended before now rather than going through with coring.

The Depth last Wednesday was some 4300ft and they were going a circa 300ft per day so the current TD of some 4750ft would've been reached sometime last Thursday evening. So, this means Coring must've got underway Friday. So the coring operations had been going on about 5 days until this Morning. Coring is slow but I recall someone saying it would take about 5 days. So it looks like logging etc could start before the end of the week. I think Logging could only take a day or so, so there's an outside chance of an RNS before the end of Friday. Again, Monday is the most likely day.

The RNS today is actually mildy positive in my view, the fact that they have been coring for my estimated 5 days means that unlike Sandhills-2 where the curvature was too great NOP have been able to core at Sandhills-2Z.

paulmasterson1 - 08 Sep 2005 13:04 - 281 of 567


Hi All,

NOP looks like news is coming, started moving up again earlier ....

Pretty much ALL buys since 11am ....

Cheers,
PM

NielsJensen - 09 Sep 2005 18:47 - 282 of 567

I considered selling my Stetson but have decided to keep it. Here's why: The Holland assets are there, they just need to be taken out of the ground, and, they alone, justify a price of 1. Then there's Bouldnor which now looks much better than the previous calculated chance of 20% because the oil has seeped so far west (and it must come from somewhere). Finally there's Italy etc..

Also note that Northern DID find oil, unfortunately bacteria had lunched on it, making it worthless.

The market has clearly panicked, but observe the current price drop happened on a miniscule volume relative to the market cap.

Time to buy a gallon hat.

paulmasterson1 - 10 Sep 2005 01:04 - 283 of 567


Niels Hi,

I think there will be another drop on monday, as the blue sky is further away now, and money to be made elsewhere by those still with an option to sell, which they may not have been able to do today, due to being at work, and their first chance to sell will therefore be monday morning.

The chart suggests there are still people in here, with a cost price of between 45p and 55p, and that is where I think the price is heading next week.

Cheers,
PM

NielsJensen - 10 Sep 2005 08:49 - 284 of 567

If one intends to top up then that's OK. The blue sky is there, it's just that people can't see it for irrelevant clouds.

paulmasterson1 - 10 Sep 2005 10:03 - 285 of 567


Niels Hi,

Topping up at 45p to 55p suits me fine :)

Cheers,
PM

NielsJensen - 15 Sep 2005 11:45 - 286 of 567

Press clip from the "Oil" of Wight: Buggers

NielsJensen - 18 Sep 2005 17:30 - 287 of 567

If there's oil at Bouldnor, share price may go to 17. I don't really believe this, but read the Evolution update here: http://www.research.evosecurities.com/

Select Company and then find Northern Petroleum.

Did you top-up Paul?


doughboy66 - 18 Sep 2005 19:09 - 288 of 567

Thanks Niels ,have just read Evolution report and read the part about 17 a share,hang on a minute i`ve just seen a flying pig.
Back to reality ! the report does seem very optimistic about the future SP even if finds are at the lower levels.
DB66

paulmasterson1 - 18 Sep 2005 19:14 - 289 of 567

Niels Hi,

Missed the 54p low as a chance to top up, as I was hoping for a lower price, but it could still drop back down there before news arrives.

You have to register with EVO to get the note, I am already registered, so if you have trouble registering(they don't accept free email addresses like hotmail !), send me an e-mail to ME and I will send you the note.

Cheers,
PM

paulmasterson1 - 18 Sep 2005 19:16 - 290 of 567


Not so sure about bouldnor either now ....

"But as the rig moves over to drill another trial borehole in Forestry Commission land at Bouldnor Copse 1, there was cautious optimism for that site, even though it has always been a higher-risk prospect than the Sandhills 2 well at Porchfield."

paulmasterson1 - 18 Sep 2005 19:28 - 291 of 567


Part of the EVO note ....

Impact on valuation independent experts ECL recent report attributed 6.64m
barrels of 2P reserves to NOP for the Sandhills Great Oolite structure, on the
basis that this was an appraisal of an existing discovery. Removal of these
reserves cuts ECLs Southern England 2P number from 10.24m to 3.6m barrels
.

Our value of NOPs core value based on 2P reserves from Southern England and
the Netherlands and cash on the balance sheet drops from 144p to 90p/share.

Our core value does not include almost 10m barrels of reserves in the Papekop
field in the Netherlands, which is subject to licence approval.

Of course this core value does not include any risked EMV for the Bouldnor
Copse
well, which is to be drilled once the rig has moved from Sandhills.
Bouldnor Copse has large potential but is inherently more risky as the structure
has not been drilled before
. NOP indicate up to 300m barrels potential with a
70% interest which could be worth a staggering 17/share unrisked. Partner Oil
Quest suggests a more modest 55m barrels
of P10 reserves for the Sherwood
Prospect at Bouldnor Copse, but even this level of reserve could be worth over
3/share unrisked net to NOP.


I guess the risk is very very high, unless they find oil worth pumping, they will stay at 60p or less, until Netherlands oil is sorted, then they could move to over 1.

Niels, any idea when drilling is going to start at Bouldnor ?

Cheers,
PM

NielsJensen - 18 Sep 2005 20:05 - 292 of 567

A wild guess would be that they have begun ,or will in a few days. They've had ample time to prepare the site and I cannot see the rig anymore.

Note that the chance of finding oil at Bouldnor is now better than it was before. Also, they were right; there was oil at Sandhills, this indicates that the source is very likely to intersect with the Bouldnor site. Here the oil would be too deep for microbes to eat it. So, maybe there's a better than 50% chance the shares soar. Not bad in my book.

paulmasterson1 - 18 Sep 2005 21:55 - 293 of 567

Niels Hi,

Quite agree, and with the NAV of the oil in Holland, the price should not be any lower when that comes online anyway, so that makes it a nil-risk ????

Any idea how long it will take to drill Bouldnor, as it is deeper than Sandhills ?

Cheers,
PM

paulmasterson1 - 19 Sep 2005 11:48 - 294 of 567


Here we go, back to 1 before we know it !!

Just topped up, with buys of 3399 and 3622




Immediate Release: 19 September 2005

Northern Petroleum Plc

('Northern')

Bouldnor Copse-1 commences drilling

Northern Petroleum Plc announces that drilling commenced at the Bouldnor
Copse-1 well on the Isle of Wight on 17 September 2005. The well is located in
PEDL 089(A) at co-ordinates 438537E 090179N and has a planned total measured
depth of 5000 feet. The primary target is the Sherwood Sandstone where Northern
is targeting an oil prospect independently evaluated by ECL as being of the
size of up to 300 million barrels in place with the Great Oolite as a potential
secondary objective.

The rig has been erected at the Bouldnor Copse-1 drill site following the
completion of operations at Sandhills-2 where Northern confirmed that oil has
moved into the migration range of Bouldnor Copse-1.

Northern has a 70% interest in PEDL 089(A).

Derek Musgrove, Managing Director, commented,

'The Bouldnor Copse-1 prospect is both deeper and potentially larger than that
of the previously drilled Sandhills-2. It should be noted that our primary
target is considered to be beyond the depth for the potential for
biodegradation as encountered at Sandhills-2.

As with the Sandhills-2 well the Company intends to provide at least one
drilling report per week on Wednesdays during operations.

PEDL 089(A) partners are

Northern Petroleum (GB) Limited 70%

Wessex Exploration Limited 20%

Oil Quest Resources Plc 10%

-Ends-

For further information contact:

Derek Musgrove

Northern Petroleum

Tel. 020 7743 6080

Chris Roberts/Ben Simons

Hansard Communications

Tel. 020 7245 1100

ateeq180 - 19 Sep 2005 11:56 - 295 of 567

I think its top up time,and hope for a quick rise.
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