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

Wednesday 5 October 2005

Northern Petroleum Plc

Weekly Drilling Report

Bouldnor Copse-1- Isle of Wight

The Bouldnor Copse-1 exploratory well in PEDL 089(A) on the Isle of Wight has
reached a measured depth of 4773 feet at 0700 hours today and is drilling
ahead.

PEDL 089(A) partners are

Northern Petroleum (GB) Limited 70%

Wessex Exploration Limited 20%

Oil Quest Resources Plc 10%

For further information please contact

Northern Petroleum Plc

Derek Musgrove

Tel: 020 7743 6080

or

Hansard Communications

Chris Roberts/Ben Simons

Tel: 020 7245 1100

Niels Hi,

OILQ and BLR amongst others were tipped as buys, NOP was not.

Cheers,
PM

Niels Hi,

Here is part of one of the tips from 5th October ....

The Wessex-Channel Basin: The Sandhills Well on PEDL 098 on the Isle of Wight was pronounced non-commercial in early September 2005. The operator of that well, AIM listed Northern Petroleum subsequently moved its rig onto PEDL 089 (A) where Oil Quest has a 10% stake. Drilling of the Bouldnor Copse-2 well started on 17th September and will cost Oil Quest around 500,000 pounds. The target depth for an oil prospect in the Sherwood sandstone is 5,000 feet and the well is likely to hit target depth around October 10th with initial results due shortly thereafter. Independent consultants ECL believes that this prospect could contain 300 million barrels of oil of which 40% might be recoverable. In theory this would leave Oil Quest with a net reserve of 12 million barrels which - valued at 3 pounds per barrel in the ground - would be worth 36 million pounds or 82p per share to Oil Quest. But it is vital to stress that this is a high risk (perhaps 1 in 10) prospect. As such we value it at 8p on a risk weighted basis. If Bouldnor Copse-2 comes good, Oil Quest shares will rocket. If it does not, which is the far more likely outcome, then the shares will be marked down. But it is important to remember that this prospect represents less than one fifth of our valuation for Oil Quest.

Things like that keep NOP down, and OILQ goes up on the rest of the analysis.

Send me an e-mail if you want me to send you the whole story :)

stanelco@gmail.com

Cheers,
PM

Amities/ UTTER TOSH !! After witnessing weeks of heavy selling todays news is hardly surprising . Like all sensible percentage traders i was out when the s/p hit a totally unjustifiable 90p a few weeks ago .This was NOPs most ambitious project and as with all mining outfits failure brings disaster .Mr market goes a little erratic when a oil outfit strikes a mothball.....And now ABSOLUTE Freefall. Back to penny share status methinks @+ J .......Masterson you are the absolue limit . A "classic" p%$3k ....Your a dangerous man with your dogmatic and cavalier attitude . You will learn ONE day .......hopefully,,,,,,though doubtfully . You have as much acumen as a chocolate frog

UK smallcap opening - Northern Petroleum hit as Bouldnor Copse-1 abandoned
AFX


LONDON (AFX) - Northern Petroleum came under pressure and fell 12 pence to 44-1/2 - a 21.24 pct decline - after the explorer disclosed it has plugged and abandoned the Bouldnor Copse-1 exploration well in PEDL 089(A) on the Isle of Wight because it did not contain significant hydrocarbons.

Managing director Derek Musgrove admitted the implications for the Isle of Wight in the Wessex basin are very discouraging, but believes this does not

reflect adversely upon the mapped and evaluated prospects in the Weald basin,

scheduled for drilling in 2006.

Northern Petroleum has a 70 pct stake in PEDL 089(A), while Oil Quest Resources, 2 adrift at 16, sits on 10 pct.

What utter $&^%"* !, I am staying in NOP the same as the big boys, I don't see them pulling out.

same here MOM...Nop is a good long term bet...although I have to say like TFC I took big profits a while ago...now I have only free shares on a smaller ridethat will be very profitable eventually.
Di

Amities / Slt MOM ...thats the art ,,,,the big boys with all the clever money move out with stealth and cunning .Unfortunately they dont ring you up ....and more likely release an RNS whenever the mood takes them .... Not wishing to sound patronizing Dynamite ; but you did the right thing . Nice play. ...lm on a free ticket ride myself after selling of about 70% of my original stake. @+ J

Ascent buys stake in NOP. ( From Digital Look)

20/10/2005
Oil and gas explorer Ascent saw its shares receive a boost after it aquired a 50% interest in Northern Petroleum Exploration for a consideration of around 370,000 shares and cash from Gold Oil. ends.
What Now?????

Now it'll go to 1 again. EVO has raised the target to +1. Panic at your peril...

For those of us still sitting tight the Independant runs this today;

NORTHERN PETROLEUM (Panmure Gordon research suggests Northern is worth 145p a share)

Alan

Whoopee!!!

I knew I was holding them for some good reason. Really do thing the price will grow by year end when things get underway in Holland.

Good post, Alan - thanks!

Holland seems a good bet, about as near to a safe bet as one can get in this uncertain world, plus the size of the Italian portfolio gives a good deal of hope for the longer term. IMO NOP should not be underestimated!!

investec

Northern is an exploration and production company with operations focused on the commercialisation of discovered oil and gas reserves. Disappointment in the groups UK drilling has to an extent masked a deep well of value lying within its Dutch assets the group awaiting formal receipt of six production licences. We believe Northern offers a clear value opportunity relative to our 211p/share total NAV.

I like the sound of that - thanks Derwent!! I had a feeling the Dutch assets were being undervalued, but 211p was beyond my wilder dreams. That would give a market capital of about 116 million . . .

Bounced about 13% in the last couple of days - obviously somebody's waking up to the unrealised value . . .

Bit of a shake going on me thinks.

MS

Up again this morning by 4p - a small consolation for SBE and VOG going into abrupt reverse!

I always said NOP would go to 1 shame it needed a 5/1 consolidation to get anywhere near there. I sold most of my holding last year at 75p but I still have a good free carry that I intend keeping until this one is worth 's ...whenever that might be.
Di

I agree, Di - I think a little patience with this one ought to bring rewards.