Northern Petroleum says that its subsidiary, NP Weald Limited (NP Weald), has been offered Block SU60 in an “out of round” offer which was announced by the DECC on 4 December 2008 and closed on 9 March 2009. The Block will be licensed as PEDL 256 with NP Weald as Operator, and is located in the Weald Basin, adjacent to PEDL 155. The Block contains a mapped extension of the Havant exploration prospect from PEDL 155 in which Northern also holds a 50% interest.

The PEDL 256 partners will be:

NP Weald

Magellan Petroleum (N.T.) Pty Ltd

Encore Oil Plc

Oil & Gas Investments Limited

Graham Heard, Exploration & Technical Director of Northern, said, “We are very pleased to have been offered Block SU60. The Havant prospect is considered to contain 16 million barrels of oil in place and the structure has similarities to the Horndean field located 5 km to the north. A planning consent has been granted for a drilling site next to the A3(M), previously announced on 12th March 2009, from which to drill an exploration well.”

Tags: Northern Petroleum