Northern Petroleum Annual General Meeting 20 May 2015
2014 a year of contrast Highlights Five wells drilled and one recompleted in Canada Production commenced with more than 30,000 barrels of oil produced by year end Two new Italian permits awarded, one onshore and one offshore Sale…
Key financial events during 2014 Financial statements reflect key events of 2014 Production and revenue established in Canada Sale of the UK assets Significant impairments French Guiana Canada Change in functional currency to US…
Northern Petroleum today Production led growth in Canada 30,000 acres with over 100 mmbbls original oil in place in north west Alberta current recovery only 18% Current production capacity of 500 bopd from five wells 75-100 bopd to…
Virgo project status Existing opportunity 30,000 acres in north west Alberta Over 100 Keg River carbonate pinnacle reefs containing over 100 mmbbls of light oil originally in place, as calculated by Alberta Energy Regulator Reefs…
Virgo 2015 work programme Subsurface Revise subsurface model, integrating well results Evaluate optimum redevelopment option Monitor production well performance and 1 2 incorporate results within revised model Operations Re-instate…
Italy exploration and appraisal High exploration upside Cascina Alberto carried exploration programme operated by Shell Italia Cascina Alberto up to 4 million of seismic acquisition up to 50 million for the first exploration well…
Southern Adriatic seismic and drilling F.R39 Cygnus prospect Prospect identified on 2D seismic Giove oil Aquila discovery Cygnus Aquila oil field well data suggests a prospect oilfield possible shared oil water contact Quaternary…
Investment opportunity Over 100 mmbbls of oil in place in Alberta, with a low primary recovery factor to date Canadian Additional recoverable oil proven through 2014 drilling programme production Production and cashflow will be…
To be a focused exploration and production company, achieving material growth, with a respected reputation
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