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Northern Petroleum
Full Northern Petroleum profile hereNorthern Petroleum Plc is an oil and gas exploration, development and production company focused on the European Union and nearby areas. The Company is an operator of both onshore and offshore projects including a producing oilfield and boasts a management and technical team of the highest quality.
Edison Investment Research notes that it is 'business as usual' at Northern Petroleum’s Italian ops
Edison Investment Research highlighted that Northern Petroleum (LON:NOP) will continue its operations in Italy with “business as usual”. Last week, the Italian Minister of Environment proposed a ban on drilling in Italian seas within five miles of the coastline, and 12 miles around protected marine parks.
“The company stated that the ruling will have no effect on reported reserves in Italy or on the exploration prospectivity of the Southern Adriatic prospects, and will have a minor impact on the West of Sicily Thrust Belt and Sicily Channel”, Edison stated. “In the Ionian Sea, most of the area of two preliminary awards would be affected, although this is not considered to be a core area for the company”.
The research specialist also noted Northern Petroleum’s recent change of strategy, to focus on the Netherlands and Italy. This new strategy will be funded by the sale of the company’s UK assets, a £10m placing and a Netherlands production based loan facility ring-fenced to the country.
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Northern Petroleum looks to pick up pace of development in Italy and the Netherlands
To this end, the company announced this morning that it had opted to divest of its UK operations, which will be handed by marketing company Envoi Limited
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Northern Petroleum brings Geesbrug gas field on stream to add 307 bcf to production
Northern Petroleum has brought its Geesbrug gas field in the Netherlands on stream, marking the start of what it said will be a period of “satisfying revenue growth.”
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Northern Petroleum - built for growth
Northern sees off-shore Italy as the company’s core area and the one with greatest future potential thanks to a mix of excellent prospectivity, strong demand for domestic sources of energy and good political capital.
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Northern Petroleum to acquire ATI Oil in all share deal
Northern Petroleum (AIM: NOP) announced late on Friday that it had come to an agreement to acquire the remainder of ATI Oil in an all share deal -
Northern Petroleum farms out six licences to Shell and reports progress in The Netherlands
Northern Petroleum answered a lot of questions today, updating the market on progress in Italy and the Netherlands.
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Northern Petroleum – Slow but surefooted
Northern Petroleum certainly looks attractive at today’s depressed prices. For a market cap of around £60m, you get in excess of £30m in cash, 2P reserves of 76 million barrels of oil equivalent, a major stake in several Italian prospects
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27/08/10
Northern Petroleum Finance Director exits -
02/07/10
Italian govt proposes ban on hydrocarbon drilling near coastline -
30/06/10
Northern Petroleum chairman Richard Latham looks ahead to new phase of accelerated growth -
28/06/10
Northern Petroleum signs seismic collaboration pact with PGS to identify new oil and gas licenses -
08/06/10
GE&CR praises Northern Petroleum’s progress in Netherlands, says Italy holds greatest potential -
08/06/10
Northern Petroleum ups oil and gas production and resources in 2009, posts record capex -
15/04/10
Edison Investment Research comments on Northern Petroleum’s Baxters Copse reserve update -
14/04/10
Northern Petroleum says report identifies 15.06m barrels 3P oil reserve at Baxters Copse, Sussex -
07/04/10
Northern Petroleum appoints ex-BP man and former Innovene CFO as finance director -
23/03/10
Northern Petroleum to acquire 44.34% interest in 107 Bcf gas fields in Netherlands
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