Northern Petrol

und sollte nun mit steigender produktion den unternehmenswert steigern können. dazu wurde einiges unternommen. rechne kurz bis mittelfristig mit einer verdoppelung.

the Company also announces that the Record Date for the Capital Reorganisation has been moved to 7 December 2015. The revised timetable is shown below: Latest time and date for receipt of applications by Qualifying Ordinary Shareholders and Qualifying CREST Holders under the Open Offer 11:00 a.m. on 4 December 2015 Announcement of the Results of the Open Offer 7 December 2015 Capital Reorganisation Record Date & Time 5:00 p.m. on 7 December 2015 Admission and commencement of dealings in the Subscription Shares 8:00 a.m. on 8 December 2015 Admission and commencement of dealings in the Open Offer Shares 8:00 a.m. on 10 December 2015 Expected date for crediting of the Open Offer Shares issued to CREST stock accounts in uncertificated form 10 December 2015 Expected date for dispatch of definitive share certificates (where applicable) by 21 December 2015 The dates and times set out above are based on the Company's current expectations and may be subject to change. References to times in this document are to London times, unless otherwise stated. -Ends-

Northern Petroleum Plc ("Northern Petroleum" or "the Company") Subscription to raise £1.2 million Production and reserves acquisition in Canada Open Offer Operations update Northern Petroleum, the AIM quoted oil company focusing on production led growth, announces subject to shareholder approval, a proposed direct subscription of 40,000,000 new ordinary shares at three pence per share, to raise gross proceeds of £1.2 million ("the Subscription") and an acquisition of assets in northwest Alberta with production and reserves ("the Acquisition"), which is conditional upon financing. The Company also announces that a proposed open offer for up to a further 40,000,000 new ordinary shares at three pence per share will be made shortly to existing qualifying shareholders ("the Open Offer"). Highlights § Non-brokered subscription of 40,000,000 ordinary shares at a price of three pence per share to be taken up by two existing shareholders, raising proceeds of £1.2 million, before expenses § Funds raised pursuant to the Subscription to be used primarily to fund the consideration for the Acquisition, which will allow the Company to: - acquire assets near to existing Canadian operations, including wells and facilities, with current production of approximately 211 barrels of oil equivalent per day ("boe/d"), of which approximately 80 per cent. is oil, and proved and probable reserves of 1.185 million barrels of oil equivalent ("boe") - execute an identified work programme of well and facility reinstatement, expected to double production over the next 12 months § Open Offer to be made to enable all qualifying shareholders to participate in the fundraising at the same issue price as the Subscription § Net cashflow from the Acquisition and the Company's existing assets forecast to broadly cover all of the Company's general and administrative cost using an oil price of US$47 per barrel through 2016 § Processing and pipeline tie-in facilities included in the Acquisition are forecast to result in operating cost synergies for existing Virgo operations § The Subscription and Open Offer are subject to shareholder approval in a general meeting mehr auf der Internetseite von Northern Petroleum

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