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

Credit Suisse still buying.

Northern Petroleum PLC - Holding(s) in Company
For immediate release: 25 April 2006 Northern Petroleum Plc ('the Company') Notification of Shareholding The Board of Northern Petroleum Plc received notification on 24 April fromCredit Suisse Securities (Europe) Limited ('CSSEL') that, as a result ofacquisitions on 20 April, CSSEL has an interest in 2,225,000 ordinary shares,which represents 4.13% of the issued ordinary share capital of the Company.

Great news about Credit Suisse: it gives us a vote of confidence.

You are absolutely right about the gas thing soul trader, the gas totally outweighs the oil bit, but what i meant to say was 19 million 2p barrels of oil in the dutch portfolio doesn't seem like a lot, but when you do the maths, at say a conservative 40 dollars a barrel *19 million barrels: it works out at circa 800 million dollars!

This of which is discounted over so many years and costs deducted of course which if it was say 650 million would still leave 150 million dollars left - 85 to 90 million pounds, around what our current market cap is.
.
in my view this on its own, without the gas probably supports the share price of today - even without the oil and gas at papekop.

barclay

Keep in mind that costs will be covered by the 1.30 pounds refund from NAM for every pound NOP spend!

Barclay, I believe you're making the right noises, as my old maths teacher used to say, but please bear in mind that the standard method of valuing oil and gas reserves uses the "risked" basis, which takes the estimated reserves x guideline oil price and applies a percentage value to arrive at the net asset value. The percentage value used as a rule of thumb is usually 10%, although I have occasionally seen 15%. I'm not sure of the underlying criteria for which rate to apply.

The following figures are from Panmure's estimate:

"Based on these additional reserves, Northern is now booking 34.6mmboe net 2P reserves and we move our NAV to 341p and our target to 360p from 145p."

Full text under: http://www.northpet.com/research/files/Panmure_Morning_Note_24-03-06.pdf

I'd like to break down the maths a bit further but as I cannot do so with any certainty, I shall refrain. You'll agree that the above is good news, though.

Indeed, very good news and NOP looking cheap at this rate

I think this has got so much headroom, it's unreal, HLYeo.

I will just be patient...soon it will go north

Can someone please wake up the market to NOP's real value...

RAMPERS WANTED: please apply on this thread with full CV and examples of previous ramping experience.

:o)

For my interview, I'd just like to say it's a lovely cuddly share that might be worth a little more than its current sp.
Any good, ST???
Alan

Coming from a lovely cuddly punter like you, that's more than adequate, Al.

Buyer wanted, for undervalued oil + gas company, for sale by public auction;
guide price 360 - 400p per share.

The price reflects solid assets in a politically stable country.

Maybe of interest to Russians seeking stable assets without state intervention.

To register your bid visit MoneyAm Northern Petroleum thread and ask for Soul Trader.

Barclay

Since I shall be taking a 15% commission on sale I shall be delighted to handle any enquiries.

:o)

Whats with the big drop in price, are they trying to test our loyalty?

The market as a whole has dropped, especially mining and oil, hope this is the end of the slide as I'm still holding and the oil price is still above $70.

Does anyone have any ideas where we go from here?

I jumped ship to Monterrico Minerals a few days ago, but Neither has performed well. I think market may be going thorugh a little slump.

NOP should still be profitable if oil slumps to $40, IMO. Not forgetting that Dutch electricity prices are the driver for some of the revenue, and natural gas for the rest.

Oil producers have been basing their feasibility studies on historic prices, not the spikes of recent years, so the business case for NOP's projects remains intact for some time to come even if the current dip continues into a slump.

The price target of NOP at NAV 341p per share/price target 360p was calculated long before $70 oil came along, so I think we'd have a way to go before NOP should simply have to pack up and go home. I think the fact that the SP has not attained the target price is possibly an indicator that the NAV was still a little on the optimistic side, but again, once NOP goes to production the stock will be valued on a multiple of earnings, which takes us back to the feasibility study issue; NOP's and other E&P companies' projects are intended to be profitable at commodity prices way below what we are currently seeing.

Hang in patiently, is what I plan to do, unless the whole market goes so bearish that the safest thing to do is just get out of the way. NOP should be releasing results around the end of June, too, which might give the SP a boost.

All WDIK, IMO, etc.

Couldn't have said it better myself, Panmure Gordon warned that there would be a correction coming, but said NOP and a few other solid companies would be exempt.
But as always when a market dips as a whole even good companies get pulled down.
The difference is the good companies bounce back, and the over-hyped crap stays down, this might even give Northern more press coverage, as the financial media
tells people which few oil companies are the real deal.

Thanks Barclay - good comment on your part, too.

Look at this! In the midst of all the other news going on, it seems we overlooked the main news. I only found it by accident because I checked out Italy JV partner ATI Oil on OFEX.

Anyway, I've tried to paste some of the juicy bits - the full document is massive, so please peruse at your leisure.

Northern Petroleum PLC - Re. Placing to Raise GBP20 Million

16 May 2006

Northern Petroleum plc ('Northern' or 'the Group' or 'the Company')

Placing of 15,384,616 new Ordinary Shares at 130p per new Ordinary Share (the
'Placing Price') to raise 20.0 million gross for the Company ('the Placing')

The Company made arrangements to raise 20.0 million gross (19.0 million net
of expenses) by way of a placing of 15,384,616 new Ordinary Shares (the
'Placing Shares') at a price of 130p per share. The new Ordinary Shares will
represent approximately 17.0% of the enlarged issued share capital of the
Company. The Placing Price of 130p represents a discount of 7.1% to the closing
mid-market price of 140p as at 15 May 2006. Investec and Panmure Gordon & Co
have conditionally placed the Placing Shares with institutional investors. The
Placing has been fully underwritten by Investec and Panmure Gordon & Co
pursuant to the terms of the placing agreement entered into by the Company,
Investec and Panmure Gordon & Co (the 'Placing Agreement'). Following the
Placing there will be 69.6 million Ordinary Shares in issue.

Application has been made to the London Stock Exchange for the admission of the
Placing Shares to trading on AIM. It is expected that Admission will occur and
that dealings will commence on 19th May 2006 at which time it is also expected
that the Placing Shares will be enabled for settlement in CREST.

News on Holland:

Following the grant or transfer of the licences, the key tasks in achieving
this development timetable will be securing the necessary permissions. Subject
to planning consents, Northern is targeting first production in Q1 2007. Based
upon preliminary development schemes, the Company forecasts reaching combined
gross field production levels on proven plus probable reserves of 1,000 bopd
and 40MW of electricity by the end of 2007, rising to 5,500 bopd, 50MW of
electricity and 48mmscfd of gas by 2010.

................. Under its agreements with NAM, NPN has also agreed to farm-in to the Steenwijk
exploration prospect in the Schoonebeek production licence area and in to three
further near field exploration wells within the Drenthe and Andel II licence
areas. NPN will earn these interests by drilling and covering the combined NAM
and NPN expenses of four exploration wells and will, subject to Government
consent, assume operatorship of the activities in the Drenthe and Andel II
exploration part-areas. The agreements provide for NPN to recover all dry hole
costs out of the pre-tax revenues from future discoveries and thereafter share
the profits from the licence interests on an equal basis with NAM. Northern
anticipates the drilling of the Steenwijk well by NAM later this year and the
second exploration well during 2007.