Announcement
Northern Petroleum Plc - Italian exploration permit approvals
Northern Petroleum, the AIM quoted oil company focusing on production led growth, announces that the environmental impact assessments ("EIA") for the Company's three remaining exploration permit applications in the southern Adriatic have been approved. These approvals are in addition to the two EIA approvals for exploration permit applications announced by the Company on 10 June 2015. The EIA approvals have been received from the Ministries of the Environment and National Heritage and the final requirement for these applications to become exploration permits is decree by the Ministry of Economic Development.
The EIA approvals across all five exploration permit applications cover the initial work programmes on the permits, which include regional geological studies and the acquisition of up to 1,450 line kms of 2D seismic data.
Keith Bush, Chief Executive Officer, commented:
"With all the southern Adriatic EIAs approved the Company can now work with the Italian authorities to finalise the award of the permits. Once received, a full 2D seismic programme will be designed to evaluate the potential of the Company's 4,500 sq km of contiguous permits and develop further opportunities similar to the Giove discovery and Cygnus exploration prospect."
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For further information please contact:
Northern Petroleum Plc Tel: +44 (0)20 7469 2900
Keith Bush, Chief Executive Officer
Nick Morgan, Finance Director
Westhouse Securities Limited (Nomad and Joint Broker) Tel: +44 (0)20 7601 6100
Alastair Stratton
Robert Finlay
FirstEnergy Capital LLP (Joint Broker) Tel: +44 (0)20 7448 0200
Jonathan Wright
Note to Editors:
Northern Petroleum is an oil and gas company focused on production led growth. The Company is undertaking a redevelopment and production project in north west Alberta and has a broader portfolio of exploration and appraisal opportunities in countries of relatively low political risk, primarily Italy. Comprehensive information on Northern Petroleum and its oil and gas operations, including press releases, annual reports and interim reports are available from Northern Petroleum's website: www.northernpetroleum.com
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