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Northern Petroleum Plc provide French Guiana - Guyane Maritime permit operational update

Friday, Dec 21, 2012

Northern Petroleum Plc (AIM: NOP) provides the following update on its fully funded four well drilling programme that has been committed to after the 2011 exploration success in the new oil province of French Guiana. The Zaedyus oil discovery well, GM-ES-1, encountered 72 metres of net oil pay in two turbidite sand systems successfully proving that the Jubilee play is mirrored across the Atlantic from West Africa.

The joint venture led by Shell decided to extend the exploration activities through committing to and funding a four well drilling programme and contracted the Stena IceMAX dynamically positioned drillship.

The recently completed GM-ES-2 was the first exploration well in this current programme and the drillship will be moved onto the GM-ES-3 location to drill the second well in the four well exploration programme.

As previously reported the GM-ES-3 well, will target the Priodontes turbidite fan exploration prospect, which is also within the larger main Cingulata fan system that also contains the Zaedyus discovery fan. The well will be targeting several Cretaceous aged reservoir intervals. The objective of the well is to explore for significant oil volumes in the fan, help determine the Cingulata sub surface model, possibly determine an oil water contact, assess the reservoir potential in the north-western part of the larger Cingulata fan system and better understand the potential of the entire block.

GM-ES-3 is forecast to take approximately three to four months and operational performance should benefit from the learning experiences of the first two successfully completed wells.

Northern through holding 50 per cent. of Northpet Investments Limited, owns a net 1.25 per cent interest in the offshore exploration licence ‘Guyane Maritime’. Northern is in partnership with Shell (Operator, 45%), Total (25%), Tullow Oil (27.5%), and Wessex Exploration (also a 1.25 per cent holder through owning the remaining 50 per cent interest in Northpet Investments Limited).

Source: Northern Petroleum Plc

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