DECC Offers Northern Petroleum Onshore UK Acreage 'Out of Round'

Northern Petroleum announced 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 December 4, 2008 and closed on March 9, 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, commented, "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 March 12, 2009, from which to drill an exploration well."
 

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