Northern Petroleum today Production led growth in Canada 30,000 acres with over 100 mmbbls original oil in place in north west Alberta Initial primary recovery target of 5 mmbbls (recovery to date is only 18%) Year end production…
The Board Non-executive Directors Executive Directors Jon Murphy, Chairman Keith Bush, Chief Executive Officer previously Venture Production COO previously General Manager at E.ON E & P over 30 years industry experience over 20…
Canadian project Size of play 30,000 acres in north west Alberta Over 100 Keg River carbonate pinnacle reefs containing over 100mmbbls of light oil originally-in-place, as calculated by Alberta Energy Regulator Reefs originally…
Potential for additional recovery Rainbow analogue Majority of reefs at Virgo have a single well penetration Marlow Number of well penetrations per reef at Shekilie (Steen River) Rainbow is much higher Zama recovery factors have…
Redevelopment at Virgo Conditions when drilled in 60s & 70s Better reservoir quality in the reef core 14-22 13-33 water breakthrough from the underlying aquifer edge reef poorly swept Shut in reefs allow oil to migrate and…
Proof of concept results All three well operations were concluded successfully production testing operations were conducted in April 13-33 cleaned up to a very low water cut high rate test produced 230 bopd over a number of days…
Development focus unswept oil Proof of concept conclusion Different well options have proved successful Higher productivity and reduced drilling risk with new 1 2 wells offsets the slightly higher cost versus re-entries Water flood…
Italy Exploration and appraisal Key area of focus in the Southern Adriatic: F.R39 which contains Cygnus prospect and Rovesti oil discovery F.R40 which contains Giove oil discovery continue developing working relationship with…
Italy F.R39 Cygnus prospect Cygnus Isopach Prospect identified on 2D seismic + top structure Aquila oil field (ENI) well data suggests a possible shared oil water contact Aquila oilfield Independent CPR gives a mean prospective…
Other assets French Guiana Four well drilling campaign completed late 2013 Well data and newly processed 3D seismic integrated, interpreted and mapped Operator planning the next activity with potential for further drilling Decision…
Investment opportunity Northern owns over 100mmbbls of STOOIP in Alberta, with a low primary recovery factor to date concept of increasing primary recovery successfully proven production and cashflow now initiated currently producing…
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