Northern Petroleum Confirms Results from Seven Heads Well

Northern Petroleum plc confirms that the well 48/24-5A in the Seven Heads Gas Field offshore Ireland tested 13.7 million cubic feet of gas per day at a flowing tubing pressure of 546 psig, from Upper Wealden sandstones. This is a 3.5 kilometer step out from any previous well and the results are considerably better than any previous tests of the Upper Wealden in the Seven Heads Gas Field. The well will now be suspended and incorporated in future development planning as a potential producer.

In the light of the good results and autumnal weather conditions it has been decided not to drill the second appraisal well at this time. The operator, Ramco Energy Plc, has announced that "the success of the first well and the extensive test data acquired have provided Ramco and its partners with sufficient information to progress development options for the field without the need to drill the second appraisal well this year".

Reserve calculations incorporating the data from 48/24-5A are still being completed and it is too early to confirm reports which have suggested that the recoverable reserves amount to 350 bcf of gas which would be 14 bcf attributable to Northern Petroleum's 5 percent interest in Seven Heads.


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