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.

This used to be the glamour company a couple of years ago and very popular with PI's. This market soon put paid to that!

Good things always come back though DD, that is the test.

True and I'm sure it will along with others such as SLN.

Looks good news to me...

RNS Number : 1372Q
Northern Petroleum PLC
03 April 2009



NORTHERN PETROLEUM PLC

RECOMMENDED OFFER FOR ATI OIL PLC

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

3 April 2009

Recommended Proposals

for the acquisition

of

ATI Oil plc

by

Northern Petroleum plc

to be effected by way of a Scheme of Arrangement

under Part 26 of the Companies Act 2006

Summary

The Independent Northern Directors and the Independent ATI Directors are pleased to announce that they have reached agreement on the terms of a recommended acquisition by members of the Northern Group of the entire issued and to be issued share capital of ATI not already owned by Northern. Under the terms of the Proposals, which will be subject to the Conditions:

Independent Scheme Shareholders will be entitled to receive 1 New Northern Share for every 8 ATI Shares held at the Scheme Record Time and so in proportion for any ATI Shares held. Fractions of New Northern Shares will not be issued to ATI Shareholders and any fractional entitlements to New Northern Shares will be disregarded.

It is intended that the acquisition will be implemented by way of a Court-sanctioned Scheme of Arrangement under Part 26 of the Companies Act 2006 and a capital reduction under section 135 of the Companies Act 1985. Based on Northern's Closing Price of 95.5 pence per Northern Share on 2 April 2009, being the last Business Day before the date of this announcement. The Proposals value the outstanding issued share capital of ATI at 11.3 million, or 11.9 pence per ATI Share.

The offer of 1 Northern Share for every 8 ATI Shares held represents a premium of 8.5 per cent. per Share to the closing price of each ATI Share of 11.0 pence per share on 2 April 2009, being the last Business Day before the date of this announcement.

Implementation of the Scheme will be conditional upon, amongst other things, the passing of a resolution by a majority in number of those Independent Scheme Shareholders present (either in person or by proxy) and voting at the Court Meeting representing at least three-fourths in value of all Scheme Shares held by such Independent Scheme Shareholders and the passing of resolutions at the General Meeting of ATI.

The Independent ATI Directors, who have been so advised by KBR, consider the terms of the Proposals to be fair and reasonable. Accordingly, the Independent ATI Directors intend unanimously to recommend that the Independent ATI Shareholders vote in favour of the Scheme at the Court Meeting and the resolutions to be proposed at the General Meeting.

Northern believes that it is in the interests of its shareholders to bring Northern and ATI together. This will allow the enlarged group more direct control over its Italian licence interests. ATI's constrained financial position has created difficulties and complications for Northern in progressing the development of its Italian licence interests, including in attracting external partners to participate in these licences.

Northern has received irrevocable commitments in respect of 47,228,000 ATI Shares, representing 50.1 per cent. of the existing issued share capital of ATI, to vote in favour of the resolutions to be proposed at the Court Meeting and the General Meeting to implement the Proposals.

Members of the Northern Group control 34,908,000 ATI Shares, which are registered in the names of Northern, NP Oil & Gas Holdings Limited and Giltspur Nominees and represent as at the date of this announcement 37.0 per cent. of the existing issued share capital of ATI. As a result of their interests in the Proposals, members of the Northern Group are precluded from voting at the Court Meeting or on the resolutions to be proposed at the General Meeting and, therefore, the ATI Shares held or controlled by them will not count towards the majorities required to approve the Scheme or such resolutions.

The Independent ATI Directors will resign from the Board of ATI on the Effective Date.

It is expected that the Court Meeting and the General Meeting to approve the Scheme, sanction the Capital Reduction and deal with certain related matters will be held on 28 May 2009.

It is expected that the Circular setting out further details of the Proposals and the procedures to be followed in connection with the implementation of the Scheme will be posted on or about 28 April 2009 to Scheme Shareholders and that the Proposals will become effective on or about 24 June 2009, subject, inter alia, to the satisfaction or waiver of the conditions set out in Appendix I to this announcement.

Commenting on today's announcement, Richard Latham, Chairman of Northern, said:

'Northern is delighted to have agreed this proposed deal with the independent directors of ATI. Given the current financial turmoil I believe the combination of Northern and ATI will strengthen our Italian position and is therefore in the interests of both companies' shareholders. Control of the entire commercial interests in the licences will enable Northern greater management flexibilities to progress licence activities or seek new partners to finance operations.'

Commenting on today's announcement, Per Gunnar Loge, Chief Executive of ATI, said:

' ATI has believed fully in the business potential of the joint assets in Italy, however, it has been apparent for some time that the equity market has become very difficult for small oil exploration companies and that such new equity capital that could be available would be at a large discount to the current share price. In the opinion of the Board of ATI the deal with Northern offers a better opportunity for shareholders to maintain their interest in the profit potential of these assets at less risk and less devaluation from incoming new equity'

Commenting on today's announcement, Derek Musgrove, Managing Director of Northern and Chairman of ATI said:

'My colleague, Chris Foss, and I sit on the boards of both companies. As a result, we have not taken part in the commercial deliberations leading up to the offer by Northern or the recommendation from ATI , but Chris and I are delighted with the news.'

Investec is acting as financial adviser to Northern. KBR is acting as financial adviser to ATI.

This summary should be read in conjunction with, and is subject to the full text of, this announcement and its appendices. The Proposals will be subject to the Conditions set out in Appendix I to this announcement and to the further terms to be set out in the Circular. Appendix II to this announcement sets out the sources and bases from which the financial calculation contained in this announcement have been derived. Appendix III contains definitions of certain terms used in this summary and in this announcement.

Enquiries:

Northern

Richard Latham, Chairman

Graham Heard, Exploration & Technical Director
Tel: + 44 (0)20 7469 2900




Investec (financial adviser to Northern)

Patrick Robb

Avital Lobel

Michael Ansell
Tel: +44 (0)20 7597 5000




Buchanan Communications (Analysts)

Tim Thompson
Tel: +44 (0)20 7466 5000

Ben Romney






ATI

Per Gunnar Loge, Chief Executive Officer
Tel: +44 (0)20 7469 2940




KBR (financial adviser to ATI)



Hugh Oram
Tel: +44 (0)20 3100 8300

New deal analysis, click here

http://moneyam.uk-wire.com/cgi-bin/articles/20090415153139M0234.html

Seems to have been taken very positively.

SP moving up strongly on a down day.

Winnie as just given his take on the stock across the road.....

Tom Winnifrith


Reged: 06/03/07
Posts: 765
Re: Northern Petroleum []
#443461 - 16/04/09 07:06 AM Edit Reply Quote



first tipped this at 13.75p. should i be posting this in the Tom's disasters thread?

At 111.5p still only valued at less than 90m (post ATI deal). More than a third of that is cash. It is profitable. We know Dutch assets worth at least 90m after Dyas deal (my valuation is actually far higher). What is Italy worth? Well if one of the farm ins comes in then my 45m base case valuation will look very tame indeed. Then there is the UK...

IMHO still very cheap

Tom Winnifrith
www.t1ps.com

PS NOP is a RSH corporate client and the t1ps fund owns stacks of Northern shares.

Another pro putting his weight behind this one.

Zak Mir pro TAer posted this earlier this morning..


Zak Mir



Reged: 28/06/07
Posts: 750
Re: Northern Petroleum ]
#443469 - 16/04/09 08:21 AM Edit Reply Quote



Above Jan resistance / April support at 88p there is a line of July 2008 resistance projecting a 150p target. Any dips towards 100p look like good buy opportunities, especially with golden moving average crosses between the 10,20,50 day lines over the past few weeks.

CATEGORY: SMALL CAPS NEWS SECTOR: OIL & GAS PRODUCERS
Higher prices lift revenue at Northern Petroleum
Fri 17 Apr 2009

LONDON (SHARECAST) - Last years strong energy prices boosted revenue from Northern Petroleums Waalwijk and P12 gas fields by 11%, the high-flying oil and gas group said today.

The fields contributed revenues of about 6m, up from 5.4m in 2007, with oil revenues at Horndean up to $600,000 from $450,000

Net attributable production dipped to 0.12 million barrels of oil equivalent (boe) from 0.16 million boe the year before, most of which came from the Waalwijk and P12 gas fields.

They came in with a combined total of about 0.66 billion cubic feet (bcf) of gas versus 0.88 bcf in 2007. Production at the Horndean oil field was 2.7% lower at 6,564 barrels for the year.

Northern says it had about 34.9m net cash as at 31 December 2008, much of which is held in euros, providing a natural hedge for the firms ongoing capital expenditure programme. Theres also 8.5m of deferred consideration to come.

"2008 has been another year of significant financial and operational progress, said finance chief Chris Foss. Consequently we stand well positioned to deliver on our primary near term objective of bringing our Dutch developments onstream, whilst looking forward with anticipation to exploration success.

In a separate statement, the company said post hydraulic reservoir fracturing flow testing has been completed on the Ottoland 1 side track during. The well flowed oil and water at improved rates to the July 2007 tests, proving the fracturing programme to be a success.

Full year results are due mid-May.

A rather bullish write up by the t1ps stable yesterday evening, 400p target.

Featured Stock: Northern Petroleum* (NOP)

Tom Winnifrith writes:

We first tipped Northern on t1ps at 13.75p. The t1ps fund started buying in at 60-80p a few months ago and added again aggressivly at 100p the other day. So we are believers. At today's 123.5p the company is valued at c90 million following the all-share buyout of plus listed ATI. Cash and equivalents are worth c35 million. Dutch assets (based on direct trade sale comparables) are worthat least 90 million but recent drilling success suggests 120 million would be cautious. Italian assets could be worth as much again. Northern is profitable and my stance is buy at up to 175p with a target of 400p.Buy.

Zak Mir writes:

Sharecrazy.com community board followers will have read my charting views on Northern a couple of days ago, but it is worth going through the technicals one more time. This is particularly so given the April test for support at former post November resistance of 88p a traditional buy signal. The position now is that while above the green 10 day moving average at 103p on an end of day close stop loss basis one would expect the 3 month target here to be as high as the October rising trend channel at 160p

Embargoed for release: 1030 on 21 April 2009

Northern Petroleum Plc

("Northern" or the "Group")

Two Well Netherlands Drilling Programme Commences

Northern announces that its wholly owned subsidiary Northern Petroleum Nederland B.V ("NPN") has
commenced drilling operations on the exploration well Nieuwendijk-1 in the Andel III licence at
2300 on 20 April 2009 using a newly fabricated rig owned and operated by the Northern Dutch
Drilling Company located in Drachten, The Netherlands.

The prospect is close to the Ottoland field. It has a mean estimated size of 56 million barrels of
oil in place. Upon completion the activities will move to the Tiendeveen site in the Drenthe III
licence in the east of The Netherlands.

Licence and working interests:

NPN: 45%
EBN: 40%
Dyas: B.V. 15%

Post drilling NPN's interests in the Nieuwendijk and Tiendeveen wells will be 22.5%.

In accordance with the AIM Rules - Guidance for Mining and Oil & Gas Companies, the information
contained in this announcement has been reviewed and signed off by the Exploration and Technical
Director of Northern, Mr Graham Heard CGeol FGS, who has over 30 years experience as a petroleum
geologist.

For further information please contact:

Northern Petroleum Plc Tel: +44 (0) 20 7469 2900
Chris Foss, Finance Director
Graham Heard, Exploration & Technical Director

Investec (NOMAD and Financial Adviser) Tel: +44 (0) 20 7597 5000
Michael Ansell / Patrick Robb

Blue Oar (Joint Broker) Tel: +44 (0) 20 7448 4400
Jerry Keen / Toby Gibbs

Jefferies International (Joint Broker) Tel: +44 (0) 20 7029 8000
Chris Snoxall / Schuyler Evans

Bishopsgate Communications (Press) Tel: +44 (0) 20 7562 3350
Nick Rome / Michael Kinirons

Buchanan Communications (Analysts) Tel: +44 (0) 20 7466 5000
Tim Thompson / Ben Romney

For further information on the Group and its activities please refer to the website at

www.northpet.com

NOP has gone down 30% over past couple of weeks

is this another u got wrong as its going up again?

this is now even higher since that muppet hy leo posted that it had recent fall.......the trick is to estimate BEFOEHAND whether a share goes up or down. as always this is another gonzo ala hyleo got wrong.

apologoies to gonzo the muppet

over 130p now.......another hyleo short burning after he probably did this at sub 100p

We might be on the verge of a breakout....I can see the rising trend possibly about to jump upwards sharply...

poor old hyleo

Sp about to jump higher....the trend is there and this has a tendancy to stumble and then rocket sharply....

This is like a recoiled spring....about to fly....

hyleo shorts are burning on this one at under a quid......ouch